Grandview Apartment Affordable Housing Corporation

Nonprofit profile at a glance

EIN
223389093
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Neptune, NJ, USA
Phone
7323892958
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Low-Income & Subsidized Rental Housing

Official website

Reported finances

Revenue
$1,838,148
Expenses
$1,680,148
Assets
$9,091,206
Liabilities
$523,090

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

Leadership & pay

6 people listed

Executive titles in this filing

  • Randi Moore (Executive Director)

Highest reported compensation

  • Randi Moore (Executive Director): $197,917 total reported compensation
  • Warren Sidosky (Treasurer): $167,007 total reported compensation

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

Overview

Mission

The organization has been formed as its sole purpose, to provide and manage housing facilities and services for individuals and families with low, very low, and moderate incomes in keansburg, monmouth county, nj in a manner of such nature that it is consistent with their needs and promotes and improves their quality of life and useful enjoyment of their living environment.

What it reported doing in 2024

The project is a 131 unit apartment complex located in New Jersey. The project is operated under sec. 236 of the national housing act and sec. 221 of the low income housing preservation and resident homeowner act.

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

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 program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 76
  • Transparency & Controls: 71
  • Accountability: 91
  • Sustainability: 65
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 81.7%; rating input score 82
  • Program expense ratio: 89.6%; rating input score 90
  • 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: Yes; rating input score 100

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: 8.6%; rating input score 58; 58th percentile among comparable filings
  • Total-asset coverage ratio: 5.41; rating input score 86; 86th percentile among comparable filings
  • Liabilities to assets ratio: 0.06; rating input score 50; 50th percentile among comparable filings
  • Officer compensation ratio: 2.4%; rating input score 58; 58th percentile among comparable filings

Growth

  • Program expense growth: -1.3% per year; rating input score 0; 14th percentile among comparable filings
  • Revenue growth: 0.6% per year; rating input score 100; 17th percentile among comparable filings
  • Asset growth: -0.2% per year; rating input score 0; 17th percentile among comparable filings

Details

  • Where the money goes: 81.7% of revenue deployed · 89.6% of spending went to programs
  • Governance: 3 of 3 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1.5M in reported program spending
  • Leadership: top reported pay $198K · 6 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 29 of 29 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 2 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 — Growth: Program expense growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Operating margin scored 58/100.
  • Review — Sustainability: Liabilities to assets ratio scored 50/100.
  • Review — Sustainability: Officer compensation ratio scored 58/100.