Federation Gulfstream Housing Inc

Nonprofit profile at a glance

EIN
592541344
IRS 990 coverage
2013–2019
Forms available
Form 990 2019
Location
Boca Raton, FL, USA
Phone
5618526029
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Senior Citizens' Housing/Retirement Communities

Reported finances

Revenue
$28,667,255
Expenses
$27,693,203
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2019. Amounts in USD.

Leadership & pay

7 people listed

Executive titles in this filing

  • WESLEY FINCH (PRESIDENT)
  • BARRY PODOLSKY (VICE PRESIDENT)

Highest reported compensation

  • MATTHEW C LEVIN (DIRECTOR): $253,632 total reported compensation
  • MEL LOWELL (TREASURER/DIRECTOR): $203,031 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2019. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide rental housing for the elderly, including facilities and services designed to meet the physical, social, and psychological needs of the elderly.

What it reported doing in 2019

Operated hud low income housing facility (100 units) for elderly and handicapped residents.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
Grant intermediary. The nonprofit sent 95% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 86
  • Accountability: 79
  • Sustainability: 34
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 99.8%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 67th percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 3.4%; rating input score 50; 50th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0.1%; rating input score 93; 93rd percentile among comparable filings

Growth

  • Program expense growth: 56.9% per year; rating input score 100; 99th percentile among comparable filings
  • Revenue growth: 58.1% per year; rating input score 100; 99th percentile among comparable filings
  • Asset growth: -15.3% per year; rating input score 0; 1st percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 99.8% of spending went to programs
  • Governance: 7 of 7 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $27.6M in reported program spending
  • Leadership: top reported pay $254K · 7 people listed · 4 of 6 pay-setting controls reported
  • Consistency: 25 of 25 current checks pass
  • Schedules: 7 filed schedules · includes grants and executive pay
  • Filing history: 7 filing years from 2013 to 2019
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 3 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.

  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.
  • Review — Sustainability: Operating margin scored 50/100.
  • High — Growth: Asset growth scored 0/100.