Bennett Elderly Housing Inc

Nonprofit profile at a glance

EIN
330274917
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Long Beach, CA, USA
Phone
5622575100
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$125,113
Expenses
$238,702
Assets
$3,011,385
Liabilities
$110,000

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

36 people listed

Executive titles in this filing

  • HARTMAN STUART J (PRESIDENT/CEO)
  • DESAEGHER NORMA N (VICE PRESIDENT)

Highest reported compensation

  • HARTMAN STUART J (PRESIDENT/CEO): $770,133 total reported compensation
  • AMBERG ROBERT R (EXECUTIVE VP GEN COUNSEL): $530,647 total reported compensation
  • ROSSELLO FRANK JR (CFO AND VP OF FINANCE): $488,122 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Bennett elderly housing, inc. Is a not-for-profit corporation formed in accordance with the not-for-profit statutes of the state of Pennsylvania. The corporation was formed for the purpose of operating a 52 unit community known as bennett place located in pittsburgh, Pennsylvania, which provides housing for low income elderly persons pursuant to section 202 of the national housing act, as amended.bennett elderly housing, inc. Sold 9/20/2022 to bennett rhf partners, lp. Bennett elderly housing, inc. Now funds the partnership through a seller carryback loan, and is the majority member of bennett rhf mgp, llc. The main purpose of this entity going forward will be a financing arm of the low income housing project through the new partnership.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 68
  • Accountability: 86
  • Sustainability: 32
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 67
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -90.8%; rating input score 2; 2nd percentile among comparable filings
  • Total-asset coverage ratio: 12.62; rating input score 92; 92nd percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 35; 35th percentile among comparable filings
  • Officer compensation ratio: 319.4%; rating input score 0; 0th percentile among comparable filings

Growth

  • Program expense growth: -8% per year; rating input score 0; 13th percentile among comparable filings
  • Revenue growth: 3.6% per year; rating input score 100; 45th percentile among comparable filings
  • Asset growth: 4.2% per year; rating input score 100; 43rd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 7 of 7 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $239K in reported program spending
  • Leadership: top reported pay $770K · 36 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 14 of 14 current checks pass
  • Schedules: 6 filed schedules · includes grants and executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 237 filed related-organization links
  • 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.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Sustainability: Operating margin scored 2/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 0/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 35/100.