Hace Management Company

Nonprofit profile at a glance

EIN
232862437
IRS 990 coverage
2011–2024
Forms available
Form 990 2024, Form 990-N 2009
Location
Philadelphia, PA, USA
Phone
2154268025
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Official website

Reported finances

Revenue
$441,874
Expenses
$434,667
Assets
$1,011,117
Liabilities
$549,073

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

Leadership & pay

5 people listed

Executive titles in this filing

  • DAVID GONZALEZ (PRESIDENT)

Highest reported compensation

  • DAVID GONZALEZ (PRESIDENT): $190,817 total reported compensation

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

Overview

Mission

Under the hace umbrella of companies and projects, hace builds just and equitable neighborhoods for residents and small businesses of eastern north philadelphia. We build neighborhoods of choice by developing affordable housing and commercial spaces, providing supportive services, engaging residents and stakeholders, and supporting small businesses to grow the neighborhood's economic base and increase job opportunities to nurture the community's rich cultural diversity. Hace management is charged with management of the low-income housing projects.

What it reported doing in 2024

Manages nine low-income housing projects during the course of the year. These projects offer affordable housing for various low-income tenants.

Operating model

Revenue model
Earned-program. 90% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 92% 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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 78
  • Transparency & Controls: 65
  • Accountability: 84
  • Sustainability: 41
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 87.5%; rating input score 87
  • Program expense ratio: 88.9%; rating input score 89
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 25th percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 80.4%; rating input score 80; 48th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: 1.6%; rating input score 43; 43rd percentile among comparable filings
  • Total-asset coverage ratio: 2.33; rating input score 63; 63rd percentile among comparable filings
  • Liabilities to assets ratio: 0.54; rating input score 10; 10th percentile among comparable filings
  • Officer compensation ratio: 43.9%; rating input score 5; 5th percentile among comparable filings

Growth

  • Program expense growth: 4.4% per year; rating input score 100; 51st percentile among comparable filings
  • Revenue growth: 4.8% per year; rating input score 100; 51st percentile among comparable filings
  • Asset growth: 16.2% per year; rating input score 100; 79th percentile among comparable filings

Details

  • Where the money goes: 87.5% of revenue deployed · 88.9% of spending went to programs
  • Governance: 4 of 4 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $387K in reported program spending
  • Leadership: top reported pay $191K · 5 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 26 of 27 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes grants and executive pay
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 11 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: 3 of 8 not reported.
  • Moderate — Sustainability: Operating margin scored 43/100.
  • High — Sustainability: Officer compensation ratio scored 5/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 10/100.