Grant Street Office Corporation

Nonprofit profile at a glance

EIN
522337216
IRS 990 coverage
2010–2018
Forms available
Form 990 2018
Location
Fairfax, VA, USA
Phone
7037397000
Rating
25
Verdict
REVIEW
Rating confidence
Moderate
Sector
Real Estate Associations

Reported finances

Revenue
$-2,996,031
Expenses
$0
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2018. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

  • LORI WOOD (PRESIDENT)

Highest reported compensation

  • LORI WOOD (PRESIDENT): $272,431 total reported compensation
  • TIM MYERS (SEC/TREASURER): $234,642 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2018. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To hold title to property on behalf of qualifying exempt entities.

What it reported doing in 2018

Held title to property, collected the income, paid expenses, and turned over the net profit to the exempt related entity.

Operating model

Revenue model
Other-operating. 100% of the money available for current operations came from other operating revenue.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

REVIEW - The filed numbers largely add up. A relatively small share of available resources goes toward mission work and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 60
  • Accountability: 34
  • Sustainability: 8
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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: 50%; rating input score 50; 19th percentile among comparable filings
  • Governance controls: 1 of 9 controls in place; rating input score 11
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -100%; rating input score 18; 18th percentile among comparable filings
  • Total-asset coverage ratio: Limited
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: Limited
  • Revenue growth: -327.4% per year; rating input score 0; 0th percentile among comparable filings
  • Asset growth: -6.4% per year; rating input score 0; 22nd percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed
  • Governance: 2 of 4 board members independent · 1 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $272K · 4 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 10 of 10 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 9 filing years from 2010 to 2018
  • 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 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Accountability: Governance controls: 7 of 8 not reported.
  • Review — Accountability: Independent voting board scored 50/100.
  • High — Sustainability: Operating margin scored 18/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.