Gis Housing V Inc

Nonprofit profile at a glance

EIN
593152020
IRS 990 coverage
2021–2024
Forms available
Form 990 2024
Location
St Petersburg, FL, USA
Phone
7275231512
Rating
64
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Official website

Reported finances

Revenue
$731,947
Expenses
$893,052
Assets
$1,998,627
Liabilities
$167,157

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

Leadership & pay

10 people listed

Executive titles in this filing

  • DEBORAH PASSERINI (PRES./CEO AT GOODWILL IND-SUN.)

Highest reported compensation

  • DEBORAH PASSERINI (PRES./CEO AT GOODWILL IND-SUN.): $600,282 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, on a not-for-profit charitable basis, subsidized rental housing facilities and services to people who are disabled, or elderly. The subsidized rental housing services are specifically designed to meet the physical, social and psychological needs, and to promote the health, security, happiness and usefulness of people who are disabled and elderly.

What it reported doing in 2024

Provides low income housing for the elderly and disabled and is designed to meet their physical, social and psychological needs. The corporation operates as an apartment community of 94 units under section 202 of the national housing act. G.i.s. Housing v, inc. Served 111 residents during the fiscal year.

Operating model

Revenue model
Other-operating. 100% 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. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 57
  • Transparency & Controls: 64
  • Accountability: 89
  • Sustainability: 34
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 68.6%; rating input score 69
  • Program expense ratio: 56.1%; rating input score 56
  • 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: 88.9%; rating input score 89; 22nd percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -22%; rating input score 8; 8th percentile among comparable filings
  • Total-asset coverage ratio: 2.24; rating input score 68; 68th percentile among comparable filings
  • Liabilities to assets ratio: 0.08; rating input score 45; 45th percentile among comparable filings
  • Officer compensation ratio: 7.6%; rating input score 45; 45th percentile among comparable filings

Growth

  • Program expense growth: -0.9% per year; rating input score 0; 15th percentile among comparable filings
  • Revenue growth: 5.8% per year; rating input score 100; 48th percentile among comparable filings
  • Asset growth: -5.8% per year; rating input score 0; 6th percentile among comparable filings

Details

  • Where the money goes: 68.6% of revenue deployed · 56.1% of spending went to programs
  • Governance: 8 of 9 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $501K in reported program spending
  • Leadership: top reported pay $600K · 10 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 26 of 26 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 4 filing years from 2021 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 6 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.
  • Review — Financial Efficiency: Program expense ratio scored 56/100.
  • High — Sustainability: Operating margin scored 8/100.
  • High — Growth: Program expense growth scored 0/100.
  • Review — Accountability: Governance controls: CEO compensation review process not reported.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 45/100.
  • Moderate — Sustainability: Officer compensation ratio scored 45/100.