Florence Rhf Housing Inc

Nonprofit profile at a glance

EIN
570845047
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Long Beach, CA, USA
Phone
5622575100
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Senior Citizens' Housing/Retirement Communities

Reported finances

Revenue
$20,688
Expenses
$21,237
Assets
$20,688
Liabilities
$0

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

Leadership & pay

35 people listed

Executive titles in this filing

  • HARTMAN STUART J (PRESIDENT/CEO)
  • DESAEGHER NORMA N (VICE PRESIDENT)

Highest reported compensation

  • HARTMAN STUART J (PRESIDENT/CEO): $770,133 total reported compensation
  • AMBERG ROBERT R (EXECUTIVE VP GEN COUNSEL): $530,647 total reported compensation
  • ROSSELLO FRANK JR (CFO AND VP OF FINANCE): $488,122 total reported compensation

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

Overview

Mission

To provide housing options for older adults in an environment that enhances their quality of life physically, mentally and spiritually

What it reported doing in 2024

To provide housing and assisted living facilites for senior citizens. Facility includes 38 assisted living units and 109 apartment units located in florence, South Carolina.the carolinian retirement community is proud to be a retirement housing foundation (rhf) community, offering affordable living options and services to older adults. Rhf is one of the nation's largest non-profit providers of housing and services for older adults, persons with disabilities, and low-income families. The facility was sold in 2023.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 71
  • Accountability: 77
  • Sustainability: 40
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 94.7%; rating input score 95
  • Program expense ratio: 92.2%; rating input score 92
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 100%; rating input score 100; 80th 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; 64th percentile among comparable filings
  • Governance controls: 4 of 9 controls in place; rating input score 44
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -2.7%; rating input score 52; 52nd percentile among comparable filings
  • Total-asset coverage ratio: 0.97; rating input score 24; 24th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 3,590.5%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: -9.1% per year; rating input score 0; 30th percentile among comparable filings
  • Revenue growth: -3.1% per year; rating input score 0; 49th percentile among comparable filings
  • Asset growth: -8.5% per year; rating input score 0; 15th percentile among comparable filings

Details

  • Where the money goes: 94.7% of revenue deployed · 92.2% of spending went to programs
  • Governance: 7 of 7 board members independent · 4 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $20K in reported program spending
  • Leadership: top reported pay $770K · 35 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 15 of 15 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 234 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.
  • Moderate — Accountability: Governance controls: 4 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Sustainability: Operating margin scored 52/100.
  • High — Sustainability: Total-asset coverage ratio scored 24/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 1/100.