Fob Real Estate Ii Inc

Nonprofit profile at a glance

EIN
822095829
IRS 990 coverage
2024–2024
Forms available
Form 990 2024
Location
Cleveland, OH, USA
Phone
2163737801
Rating
66
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Urban, Community Economic Development

Reported finances

Revenue
$9,460,758
Expenses
$1,696,650
Assets
$5,251,736
Liabilities
$3,945

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

Leadership & pay

44 people listed

Executive titles in this filing

  • SUSAN ERTLE (EXECUTIVE DIRECTOR)

People named in this filing

  • ADEBANJO SOLARU (TRUSTEE)
  • AMANDA BRADY (TRUSTEE)
  • ANDREW BENNETT (TRUSTEE)

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

Our mission is to perform fundraising and advocacy activities that exclusively support the opertions and growth of the breakthrough public schools management organization and all its member schools.

What it reported doing in 2024

Fob real estate ii, inc. Provides real estate to the breakthrough chater school group as part of friends of breakthrough schools. Friends of breakthrough schools, and prior to that, friends of e prep, has a long history of raising funds to fill the gap between the inequitable funding the government provides to the charter schools and what is needed.

Operating model

Revenue model
Other-operating. 93% 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 - 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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 43
  • Transparency & Controls: 90
  • Accountability: 88
  • Sustainability: 90
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 18.3%; rating input score 18
  • Program expense ratio: 100%; rating input score 100
  • 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • 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: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 82.1%; rating input score 98; 98th percentile among comparable filings
  • Total-asset coverage ratio: 3.1; rating input score 74; 74th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 93; 93rd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 18.3% of revenue deployed · 100% of spending went to programs
  • Governance: 42 of 42 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $1.7M in reported program spending
  • Leadership: top reported pay $0 · 44 people listed
  • Consistency: 16 of 16 current checks pass
  • Schedules: 3 filed schedules
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • 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 18/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.