Federation Housing Inc D/b/a Federation Gardens

Nonprofit profile at a glance

EIN
592232035
IRS 990 coverage
2011–2020
Forms available
Form 990 2020
Location
Sunrise, FL, USA
Phone
9547461879
Rating
64
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Senior Citizens' Housing/Retirement Communities

Reported finances

Revenue
$49
Expenses
$177,775
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • WILLIAM SHERMAN (VICE PRESIDENT)
  • MICHAEL BALABAN (PRESIDENT)
  • PETER BERG (VICE PRESIDENT)
  • ALAN COHN (PRESIDENT)

Highest reported compensation

  • MICHAEL BALABAN (PRESIDENT): $337,123 total reported compensation
  • BRUCE YUDEWITZ (SECRETARY/TREASURER): $158,387 total reported compensation
  • HEATHER BARRAZA (SECRETARY/TREASURER): $148,643 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2020. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide housing for the handicapped and/or low income families and the elderly.

What it reported doing in 2020

A united states department of housing and urban development project for elderly families and individuals of low or moderate income levels - 123 units.

Operating model

Revenue model
Other-operating. 100% 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 - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 66
  • Accountability: 43
  • Sustainability: 2
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 82.3%; rating input score 82
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 50%; rating input score 50; 19th percentile among comparable filings
  • Governance controls: 3 of 9 controls in place; rating input score 33
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -362,706.1%; rating input score 0; 0th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 31.7%; rating input score 10; 10th percentile among comparable filings

Growth

  • Program expense growth: -6.3% per year; rating input score 0; 47th percentile among comparable filings
  • Revenue growth: 27.1% per year; rating input score 100; 97th percentile among comparable filings
  • Asset growth: -8.2% per year; rating input score 0; 16th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 82.3% of spending went to programs
  • Governance: 2 of 4 board members independent · 3 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $146K in reported program spending
  • Leadership: top reported pay $337K · 6 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 17 of 17 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 10 filing years from 2011 to 2020
  • Contacts: How to reach this organization
  • 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: Independent voting board scored 50/100.
  • Moderate — Accountability: Governance controls: 5 of 8 not reported.
  • High — Sustainability: Operating margin scored 0/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 10/100.