Ballston Station Housing Corporation

Nonprofit profile at a glance

EIN
811605999
IRS 990 coverage
2016–2017
Forms available
Form 990 2017
Location
Arlington, VA, USA
Phone
7035271798
Rating confidence
Limited
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$0
Expenses
$0
Assets
$3,462,695
Liabilities
$3,462,695

Source: IRS Form 990. Selected filing: tax year 2017. Amounts in USD.

Leadership & pay

9 people listed

Executive titles in this filing

  • GENE CROSS (PRESIDENT)
  • SARAH HARRISON-MCQUEEN (CHIEF EXECUTIVE OFFICER)

People named in this filing

  • GENE CROSS (PRESIDENT)
  • AMANDA BASTA (SECRETARY, DIRECTOR)
  • JENNIFER LIU (DIRECTOR)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2017. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Ballston station housing corporation was organized as a Virginia nonstock, nonprofit corporation on march 22, 2016, for the purpose of constructing and operating a multifamily rental real estate building known as ballston station. The primary purposes of the corporation shall be to provide safe and affordable housing to low-income and moderate-income individuals in arlington, Virginia, and to provide additional social services to residents and the community. The corporation intends to develop and provide rental apartments.

What it reported doing in 2017

See schedule othe primary purposes of the corporation shall be to provide safe and affordable housing to low-income and moderate-income individuals in arlington, Virginia, and to provide additional social services to residents and the community. The corporation intends to develop and provide rental apartments. The corporation will meet the 40-60 test of internal revenue code 142(d)(1)(b) by having at least 40 percent of the apartments occupied by individuals whose income is 60 percent or less of the area's median gross income. In addition, the corporation will comply with restrictions imposed by the Virginia housing development authority and arlington county on the rental rates for the low-income units. These restrictions will ensure that the designated units are affordable for low- and moderate-income individuals and families. The corporation intends to participate in the affordable housing investment fund, which is the main financing program of arlington county, Virginia, for affordable housing development. In addition, the corporation also will offer the following social services to the low-income residents of its development and other low-income individuals in the local community: (1) a business center that provides free internet access, (2) public transportation subsidies, (3) community programs including financial management education, (4) community programs to alleviate nutrition and food insecurity through partnership with other local non-profit organizations, and (5) educational programs through partnership with an on-site non-profit pre-school.

Operating model

Revenue model
No positive adjusted resources. The filing reports no positive adjusted operating resources.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 79
  • Accountability: 76
  • Sustainability: 1
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 87.5%; rating input score 88; 4th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: Limited
  • Total-asset coverage ratio: Limited
  • Liabilities to assets ratio: 1; rating input score 6; 6th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: 105.8% per year; rating input score 100; 99th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 8 of 8 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 10 of 11 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules
  • Filing history: 2 filing years from 2016 to 2017
  • Contacts: How to reach this organization
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Sustainability: Liabilities to assets ratio scored 6/100.
  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • Moderate — Transparency & Controls: Series filing activity did not reconcile in the filed values.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.