First Shared Housing Corp

Nonprofit profile at a glance

EIN
222536011
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Philadelphia, PA, USA
Phone
2158258800
Rating
64
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$105,697
Expenses
$102,201
Assets
$77,746
Liabilities
$519,650

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

Leadership & pay

3 people listed

Executive titles in this filing

  • ANDREW ANDERSON (PRESIDENT/SECRETARY)
  • HOLLISTER KNOWLTON (VICE PRESIDENT/TREASURER)

Highest reported compensation

  • ANDREW ANDERSON (PRESIDENT/SECRETARY): $227,046 total reported compensation
  • SUZANNE DAVIS (ASST SECRETARY): $146,801 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 corporation owns and manages 6 units of shared senior housing for low income senior citizens and the disabled at 540 south 61st street, philadelphia, Pennsylvania

What it reported doing in 2024

Managed and maintained 6 units of shared housing for low income senior citizens

Operating model

Revenue model
Grant-funded. 83% of the money available for current operations came from government grants.
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. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 65
  • Transparency & Controls: 65
  • Accountability: 62
  • Sustainability: 35
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 71.5%; rating input score 72
  • Program expense ratio: 74%; rating input score 74
  • 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: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 50%; rating input score 50; 16th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 3.3%; rating input score 47; 47th percentile among comparable filings
  • Total-asset coverage ratio: 0.76; rating input score 34; 34th percentile among comparable filings
  • Liabilities to assets ratio: 6.68; rating input score 1; 1st percentile among comparable filings
  • Officer compensation ratio: 13.3%; rating input score 26; 26th percentile among comparable filings

Growth

  • Program expense growth: 6.2% per year; rating input score 100; 59th percentile among comparable filings
  • Revenue growth: 2.1% per year; rating input score 100; 35th percentile among comparable filings
  • Asset growth: -5% per year; rating input score 0; 10th percentile among comparable filings

Details

  • Where the money goes: 71.5% of revenue deployed · 74% of spending went to programs
  • Governance: 1 of 2 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $76K in reported program spending
  • Leadership: top reported pay $227K · 3 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 23 of 23 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 14 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 4 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.
  • Review — Accountability: Independent voting board scored 50/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • Moderate — Sustainability: Operating margin scored 47/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 34/100.
  • High — Sustainability: Liabilities to assets ratio scored 1/100.
  • High — Sustainability: Officer compensation ratio scored 26/100.