Golden Opportunity Living Development

Nonprofit profile at a glance

EIN
910889527
IRS 990 coverage
2009–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Tacoma, WA, USA
Phone
2533833363
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Low-Income & Subsidized Rental Housing

Official website

Reported finances

Revenue
$2,874,376
Expenses
$2,603,536
Assets
$5,273,917
Liabilities
$114,751

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

Leadership & pay

8 people listed

Executive titles in this filing

  • Caroline Robinson (Executive Director)
  • Ron Hastie (Vice President)
  • Colby Richards (President)

Highest reported compensation

  • Michelle Cox (Director): $215,525 total reported compensation
  • Kerry Prosser (Chief Financial Officer): $193,772 total reported compensation
  • Caroline Robinson (Executive Director): $101,547 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Provide independent living rental housing and related facilities to individuals 55 years of age or older.

What it reported doing in 2024

Provided rental housing and related facilities to seniors 55 and over. There are a total of 212 rental units. All of our residents live fully and independently in a safe, secure and friendly environment. Active lifestyle choices and abundant community resources allow our residents personal freedom and flexibility. This relaxed and inviting lifestyle encourages and supports and interactive community where residents have the opportunity to get involved and make new friends. Residents enjoy a variety of amenities including social activities, laundry facilities and parking.

Operating model

Revenue model
Other-operating. 99% of the money available for current operations came from other operating revenue.
Distribution model
Direct operator. The filing allocates 83% 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. Some filing-based governance responses are negative or unanswered and reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 75
  • Transparency & Controls: 77
  • Accountability: 76
  • Sustainability: 60
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 80.6%; rating input score 81
  • Program expense ratio: 88.8%; rating input score 89
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 75%; rating input score 75; 13th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • 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: Pass

Sustainability

  • Operating margin: 9.4%; rating input score 61; 61st percentile among comparable filings
  • Total-asset coverage ratio: 2.03; rating input score 62; 62nd percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 10.2%; rating input score 29; 29th percentile among comparable filings

Growth

  • Program expense growth: 9.9% per year; rating input score 100; 63rd percentile among comparable filings
  • Revenue growth: 3.9% per year; rating input score 100; 33rd percentile among comparable filings
  • Asset growth: 10.1% per year; rating input score 100; 59th percentile among comparable filings

Details

  • Where the money goes: 80.6% of revenue deployed · 88.8% of spending went to programs
  • Governance: 6 of 8 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $2.3M in reported program spending
  • Leadership: top reported pay $216K · 8 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 24 of 24 current checks pass
  • Schedules: 6 filed schedules · includes grants and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 3 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.

  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Officer compensation ratio scored 29/100.