Friendship Plaza I Inc

Nonprofit profile at a glance

EIN
311635371
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Marion, OH, USA
Phone
7403824885
Rating
48
Verdict
MIXED
Rating confidence
Moderate
Sector
Senior Citizens' Housing/Retirement Communities

Official website

Reported finances

Revenue
$345,396
Expenses
$328,758
Assets
$949,063
Liabilities
$2,436,849

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

Leadership & pay

12 people listed

Executive titles in this filing

  • Cathy Green (President)
  • Daniel C Fagan Jr (Vice President)

Highest reported compensation

  • John Renner (Treasurer): $462,483 total reported compensation
  • Terry Spitznagel (Secretary): $459,103 total reported compensation
  • Daniel C Fagan Jr (Vice President): $213,228 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 Safe and Affordable Housing to Low-Income Elderly and/or Handicapped Persons.

What it reported doing in 2024

The Sole Purpose is to Provide Subsidized Apt. Rental Housing to Approximately 30 Low-Income Elderly and/or Hanicapped Persons Through the U.S. of HUD Sections 202 Program.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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

MIXED - 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 a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 26
  • Transparency & Controls: 69
  • Accountability: 63
  • Sustainability: 45
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 28.1%; rating input score 28
  • Program expense ratio: 29.6%; rating input score 30
  • 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: 60%; rating input score 60; 17th percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 67
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 4.8%; rating input score 50; 50th percentile among comparable filings
  • Total-asset coverage ratio: 2.89; rating input score 68; 68th percentile among comparable filings
  • Liabilities to assets ratio: 2.57; rating input score 2; 2nd percentile among comparable filings
  • Officer compensation ratio: 36.4%; rating input score 8; 8th percentile among comparable filings

Growth

  • Program expense growth: -9.1% per year; rating input score 0; 12th percentile among comparable filings
  • Revenue growth: 2.1% per year; rating input score 100; 35th percentile among comparable filings
  • Asset growth: -4.6% per year; rating input score 0; 11th percentile among comparable filings

Details

  • Where the money goes: 28.1% of revenue deployed · 29.6% of spending went to programs
  • Governance: 6 of 10 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $97K in reported program spending
  • Leadership: top reported pay $462K · 12 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: 14 filing years from 2010 to 2024
  • 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 28/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 30/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 3 of 9 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • Review — Sustainability: Operating margin scored 50/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 2/100.
  • High — Sustainability: Officer compensation ratio scored 8/100.