Fruitvale Development Corporation

Nonprofit profile at a glance

EIN
943235482
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Oakland, CA, USA
Phone
5105356900
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Community, Neighborhood Development

Official website

Reported finances

Revenue
$5,487,915
Expenses
$6,489,663
Assets
$27,200,122
Liabilities
$23,969,673

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

Leadership & pay

19 people listed

Executive titles in this filing

  • CHRISTOPHER IGLESIAS (CEO)

Highest reported compensation

  • CHRISTOPHER IGLESIAS (CEO): $442,624 total reported compensation
  • SANDRA DALIDA (CFO): $284,136 total reported compensation
  • TERESA ESTRADA (CHIEF HR OFFICER): $239,799 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 plan, develop, rehabilitate and manage housing (for low and moderate income and the elderly) and community, cultural, commercial, office, government, transit, and other facilities to combat deterioration of the community and contribute to the strengthening and physical development in the community.

What it reported doing in 2024

Fruitvale transit village: provides a sustainable community service center to the fruitvale district of the city of oakland, located at a mass transit hub. By providing a nexus of community and social services located at a multi-modal mass transit center, the organization can provide opportunities for low income and moderate income individuals to access necessary services in a location conveniently accessible by mass transit. The organization provides more than 115,000 square feet of community services, including preschool, high school, senior services, public library, health clinic, low to no cost tenant immigrant and employee legal services, financial counseling, and others, serving more than 1,500 clients each week. Additionally, the organization has provided a centralized and tenant-friendly location to encourage the creation and development of small businesses that can contribute to the overall improvement in the fruitvale district economy, as well as the financial health of the city of oakland, as supported through property taxes and sales taxes. The organization has encouraged the creation of more than 30 small businesses generated more than $300,000 in annual property taxes to the county, along with more than $100,000 in annual sales taxes.

Operating model

Revenue model
Earned-program. 100% 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 most voting board members are independent. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 60
  • Accountability: 91
  • Sustainability: 37
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 94.5%; rating input score 95
  • 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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -18.3%; rating input score 8; 8th percentile among comparable filings
  • Total-asset coverage ratio: 4.19; rating input score 81; 81st percentile among comparable filings
  • Liabilities to assets ratio: 0.88; rating input score 8; 8th percentile among comparable filings
  • Officer compensation ratio: 2.7%; rating input score 71; 71st percentile among comparable filings

Growth

  • Program expense growth: 1.4% per year; rating input score 100; 19th percentile among comparable filings
  • Revenue growth: 2.6% per year; rating input score 100; 24th percentile among comparable filings
  • Asset growth: -4.3% per year; rating input score 0; 4th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 94.5% of spending went to programs
  • Governance: 11 of 11 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $6.1M in reported program spending
  • Leadership: top reported pay $443K · 19 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $1.8M reported
  • Consistency: 29 of 29 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 15 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 5 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 — Sustainability: Operating margin scored 8/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 8/100.