Flexible Psh Solutions Inc

Nonprofit profile at a glance

EIN
824332625
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Los Angeles, CA, USA
Phone
2139166806
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Homeless Shelters

Official website

Reported finances

Revenue
$1,290
Expenses
$612,642
Assets
$60,616,226
Liabilities
$61,270,971

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

Leadership & pay

5 people listed

Executive titles in this filing

  • Stephen L Hicks (CEO)

People named in this filing

  • Paul Fox (Director)
  • Curtis Holguin (Director)
  • James Kohn (Director)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

Flexible PSH Solutions, Inc. develops and operates permanent supportive housing (PSH) by offering a creative approach to increasing the volume of PSH that serves the chronically homeless in California and provides supportive services to help keep its tenants living in homes and not in the streets. The Organization advanced its development progress in respect of its Enlightenment Plaza project by completing its project funding for the Montesquieu, Rousseau, and Voltaire project phases. Substantial progress was made in the construction of each of the buildings making up the first three phases of Enlightenment Plaza. As of the close of the calendar year, funding decisions based on certain application requests made by F-PSH for the 4th phase of of the Project, Locke Lofts, were pending with the expectation that such applications would receive funding awards in the 1st qtr of 2024.

What it reported doing in 2024

Flexible PSH Solutions substantially advanced the development of the first 3 phases of its 5-phase Enlightenment Plaza affordable housing project in 2024, nearing construction completion of Montesquieu Manor, Rousseau Residences, and Voltaire Villas in support of more than 150 units of the total 387 planned units for the project. In addition, F-PSH secured funding commitments in support of its next project phase, Locke Lofts, a project phase that will build an additional 150 affordable permanent supportive housing units within the Enlightenment Plaza campus. Construction completion and receipt of its Certificates of Occupancy issued by the City of Los Angeles on the first three phases is expected in the 4th quarter of 2025 and the 1st quarter of 2025. The funding preparation work and commitments received for Locke Lofts that F-PSH accomplished in 2022 is anticipated to lead to construction financing closing during 4th qtr 2025, with ground-breaking occuring by the 1st qtr of 2026.

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 total spending goes to programs and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 73
  • Transparency & Controls: 90
  • Accountability: 65
  • Sustainability: 36
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 53.4%; rating input score 53
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 80%; rating input score 80; 25th percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -47,391.6%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 98.94; rating input score 95; 95th percentile among comparable filings
  • Liabilities to assets ratio: 1.01; rating input score 5; 5th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: 37.1% per year; rating input score 100; 92nd percentile among comparable filings
  • Revenue growth: -30.7% per year; rating input score 0; 13th percentile among comparable filings
  • Asset growth: 39.2% per year; rating input score 100; 97th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 53.4% of spending went to programs
  • Governance: 4 of 5 board members independent · 3 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $327K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 17 of 17 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 4 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • 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 — Financial Efficiency: Program expense ratio scored 53/100.
  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Sustainability: Operating margin scored 1/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 5/100.