CARING Housing Ministries

Nonprofit profile at a glance

EIN
954540601
IRS 990 coverage
2016–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Glendale, CA, USA
Phone
6263002440
Rating
63
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Health - General and Rehabilitative N.E.C.

Official website

Reported finances

Revenue
$6,641,211
Expenses
$3,338,928
Assets
$65,654,179
Liabilities
$38,066,710

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

Leadership & pay

15 people listed

Executive titles in this filing

  • Sean Kelly (CEO)
  • Soraya Diaz (President - CARING Housing Ministries)
  • Martin Lakatos (Vice President - Development)

Highest reported compensation

  • Sean Kelly (CEO): $1,459,056 total reported compensation
  • Eduardo Salvador (CFO): $906,991 total reported compensation
  • Rachel Vranich (Chief Legal Officer / Secretary): $562,741 total reported compensation

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

Overview

Mission

Management of affordable housing to approximately 3,000 persons throughout the state of California and Arizona.

What it reported doing in 2024

Caring housing ministries, inc. Manages 23 and owns 9 hud-subsidized and tax credit facilities, which provide housing to approximately 2,615 residents. Its owned communities are all in California and its managed communities are located throughout California and glendale, Arizona.

Operating model

Revenue model
Other-operating. 74% of the money available for current operations came from other operating revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 38
  • Transparency & Controls: 71
  • Accountability: 86
  • Sustainability: 78
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 37.8%; rating input score 38
  • Program expense ratio: 52%; rating input score 52
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

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: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 49.7%; rating input score 92; 92nd percentile among comparable filings
  • Total-asset coverage ratio: 19.66; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 0.58; rating input score 17; 17th percentile among comparable filings
  • Officer compensation ratio: 8.5%; rating input score 35; 35th percentile among comparable filings

Growth

  • Program expense growth: 10.7% per year; rating input score 100; 66th percentile among comparable filings
  • Revenue growth: 16.7% per year; rating input score 100; 84th percentile among comparable filings
  • Asset growth: 47.3% per year; rating input score 100; 97th percentile among comparable filings

Details

  • Where the money goes: 37.8% of revenue deployed · 52% of spending went to programs
  • Governance: 7 of 7 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1.7M in reported program spending
  • Leadership: top reported pay $1.5M · 15 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 30 of 30 current checks pass
  • Schedules: 6 filed schedules · includes major donors, executive pay, and related organizations
  • Filing history: 9 filing years from 2016 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 13 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 38/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Financial Efficiency: Program expense ratio scored 52/100.
  • Review — Accountability: Governance controls: 3 of 9 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 17/100.
  • Moderate — Sustainability: Officer compensation ratio scored 35/100.