Fountain West Apartments Inc

Nonprofit profile at a glance

EIN
680371264
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
San Rafael, CA, USA
Phone
4152581800
Rating
67
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Support

Reported finances

Revenue
$906,428
Expenses
$996,630
Assets
$2,755,308
Liabilities
$1,870,349

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

Leadership & pay

4 people listed

Executive titles in this filing

  • BLANCA CASTILLEJA (PRESIDENT)
  • KATHERINE FLEMING (VICE PRESIDENT)

Highest reported compensation

  • KATHERINE FLEMING (VICE PRESIDENT): $354,634 total reported compensation
  • BLANCA CASTILLEJA (PRESIDENT): $176,100 total reported compensation
  • MICHELLE PARKER (SECRETARY/TREAS): $142,701 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 low-income housing

What it reported doing in 2024

The corporation operates an apartment complex consisting of 72 units of low-income housing for families in fresno, California under section 236 of the national housing act. Such projects are regulated by hud as to rent charges.

Operating model

Revenue model
Earned-program. 67% of the money available for current operations came from fees and other program 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. 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: 86
  • Transparency & Controls: 65
  • Accountability: 33
  • Sustainability: 35
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 91.8%; 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: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 25%; rating input score 25; 10th percentile among comparable filings
  • Governance controls: 4 of 9 controls in place; rating input score 44
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -10%; rating input score 17; 17th percentile among comparable filings
  • Total-asset coverage ratio: 2.76; rating input score 73; 73rd percentile among comparable filings
  • Liabilities to assets ratio: 0.68; rating input score 11; 11th percentile among comparable filings
  • Officer compensation ratio: 9%; rating input score 40; 40th percentile among comparable filings

Growth

  • Program expense growth: 5.2% per year; rating input score 100; 43rd percentile among comparable filings
  • Revenue growth: 6.1% per year; rating input score 100; 50th percentile among comparable filings
  • Asset growth: 3.3% per year; rating input score 100; 31st percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 91.8% of spending went to programs
  • Governance: 1 of 4 board members independent · 4 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $915K in reported program spending
  • Leadership: top reported pay $355K · 4 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 27 of 27 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 10 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 52 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.
  • High — Accountability: Independent voting board scored 25/100.
  • Moderate — Accountability: Governance controls: 5 of 9 not reported.
  • High — Sustainability: Operating margin scored 17/100.
  • High — Sustainability: Liabilities to assets ratio scored 11/100.
  • Moderate — Sustainability: Officer compensation ratio scored 40/100.