Harvard Plaza Inc

Nonprofit profile at a glance

EIN
953377301
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Pasadena, CA, USA
Phone
3232583512
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Low-Income & Subsidized Rental Housing

Reported finances

Revenue
$2,441,278
Expenses
$2,599,008
Assets
$14,870,461
Liabilities
$11,100,240

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

Leadership & pay

11 people listed

Executive titles in this filing

  • ELVAN MOEN (PRESIDENT)

People named in this filing

  • ELVAN MOEN (PRESIDENT)
  • JANE CASEY (TREASURER)
  • LISA FIKE (SECRETARY)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

To provide low income housing to elderly and handicapped persons.

What it reported doing in 2024

The organization is a non-profit apartment complex renting to low income, handicapped or elderly persons. The operations are regulated and controlled by u.s. Dept. Of hud. A coin operated laundry facility is provided.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Hybrid. The nonprofit split its reported program spending across 66% for direct work, and 34% for grants.

The verdict

STRONG - 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: 94
  • Accountability: 88
  • Sustainability: 46
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 90.5%; rating input score 91
  • Program expense ratio: 82.6%; rating input score 83
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • 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: -6.5%; rating input score 18; 18th percentile among comparable filings
  • Total-asset coverage ratio: 5.72; rating input score 85; 85th percentile among comparable filings
  • Liabilities to assets ratio: 0.75; rating input score 12; 12th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: 3.8% per year; rating input score 100; 32nd percentile among comparable filings
  • Revenue growth: 3.2% per year; rating input score 100; 28th percentile among comparable filings
  • Asset growth: 11.1% per year; rating input score 100; 63rd percentile among comparable filings

Details

  • Where the money goes: 90.5% of revenue deployed · 82.6% of spending went to programs
  • Governance: 11 of 11 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $2.1M in reported program spending
  • Leadership: top reported pay $0 · 11 people listed
  • Highest-paid contractors: 1 contractor listed · $138K reported
  • Consistency: 31 of 31 current checks pass
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 5 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 7 not reported.
  • High — Sustainability: Operating margin scored 18/100.
  • High — Sustainability: Liabilities to assets ratio scored 12/100.