Fellowship Square Foundation

Nonprofit profile at a glance

EIN
526067043
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Reston, VA, USA
Phone
7038602536
Rating
61
Verdict
SUPPORTED
Rating confidence
Standard
Sector
Housing Development, Construction, Management

Official website

Reported finances

Revenue
$2,473,393
Expenses
$1,870,174
Assets
$36,018,340
Liabilities
$160,552

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

Leadership & pay

12 people listed

Executive titles in this filing

  • Kristin Norris (President)
  • Mark Fleming (Vice President)
  • Christina Zeitz (CEO)

Highest reported compensation

  • Christina Zeitz (CEO): $220,209 total reported compensation

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

Overview

Mission

The Organization provides affordable housing and services to older adults.

What it reported doing in 2024

Fellowship Square provides affordable housing and services to 800+ seniors through four apartment communities in the Washington, DC area. Fellowship Square is working to add to its inventory of affordable housing units for older adults. Currently, each Fellowship House offers a robust monthly calendar of programs and activities; and includes an onsite social worker to help residents navigate Medicare, Medicaid, and other federal and state benefits, and access community resources that help them through the aging process. Fellowship Square provides governance, legal, and financial oversight to each property along with support through fundraising, volunteers, community outreach, and public relations services to each Fellowship House property. All Fellowship House properties operate under Section 223 (F) of the National Housing Act and participate in the Section 8 Housing Assistance rental program.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 85% 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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

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 a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 28
  • Transparency & Controls: 70
  • Accountability: 100
  • Sustainability: 80
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 21.4%; rating input score 21
  • Program expense ratio: 46.8%; rating input score 47
  • Fundraising efficiency: $0.72 raised per $1 spent on fundraising; rating input score 2; 2nd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 88.9%; rating input score 89; 3rd 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: Pass
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 81.1%; rating input score 81; 22nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 24.4%; rating input score 81; 81st percentile among comparable filings
  • Total-asset coverage ratio: 19.26; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 89; 89th percentile among comparable filings
  • Officer compensation ratio: 11.8%; rating input score 25; 25th percentile among comparable filings

Growth

  • Program expense growth: 2% per year; rating input score 100; 22nd percentile among comparable filings
  • Revenue growth: 6.7% per year; rating input score 100; 52nd percentile among comparable filings
  • Asset growth: 13.3% per year; rating input score 100; 70th percentile among comparable filings

Details

  • Where the money goes: 21.4% of revenue deployed · 46.8% of spending went to programs
  • Governance: 11 of 11 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $875K in reported program spending
  • Leadership: top reported pay $220K · 12 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 30 of 32 current checks pass · 2 findings to review
  • Schedules: 9 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • Related organizations: 7 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 — Financial Efficiency: Mission deployment rate scored 21/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 47/100.
  • High — Financial Efficiency: Fundraising efficiency scored 2/100.
  • High — Sustainability: Officer compensation ratio scored 25/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.