Heritage Plaza Phase I

Nonprofit profile at a glance

EIN
911749104
IRS 990 coverage
2011–2023
Forms available
Form 990 2023
Location
Redding, CA, USA
Phone
5302417740
Rating
58
Verdict
MIXED
Rating confidence
Moderate
Sector
Housing Support

Official website

Reported finances

Revenue
$64,407
Expenses
$38,460
Assets
$1,605,991
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • Robert Miller (President)
  • Michael Daniels (Vice President)

Highest reported compensation

  • Ron Smith (Treasurer): $3,368 total reported compensation
  • Ron Stone (Director): $315 total reported compensation
  • Robert Miller (President): $187 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide low income housing funding, in part, through HUD funding and rent subsidies.

What it reported doing in 2023

The organization provides low income housing funding, in part, with rent subsidies provided by the U.S. Department of Housing and Urban Development. Additionally, the project was originally constructed with funds provided by FHA. Both sources of support require the project to comply with HUD requirements concerning eligibility of program participants.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 80% 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

MIXED - The filed numbers largely add up and program spending has grown recently. A relatively small share of available resources goes toward mission work and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 50
  • Transparency & Controls: 90
  • Accountability: 9
  • Sustainability: 76
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 44.6%; rating input score 45
  • Program expense ratio: 74.7%; rating input score 75
  • 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: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 9th percentile among comparable filings
  • Governance controls: 2 of 9 controls in place; rating input score 22
    • 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: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 40.3%; rating input score 85; 85th percentile among comparable filings
  • Total-asset coverage ratio: 41.76; rating input score 90; 90th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 10.1%; rating input score 16; 16th percentile among comparable filings

Growth

  • Program expense growth: 5.6% per year; rating input score 100; 68th percentile among comparable filings
  • Revenue growth: 7.6% per year; rating input score 100; 84th percentile among comparable filings
  • Asset growth: 8.7% per year; rating input score 100; 78th percentile among comparable filings

Details

  • Where the money goes: 44.6% of revenue deployed · 74.7% of spending went to programs
  • Governance: 0 of 6 board members independent · 2 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $29K in reported program spending
  • Leadership: top reported pay $3K · 6 people listed
  • Consistency: 16 of 16 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 13 filing years from 2011 to 2023
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 45/100.
  • High — Accountability: Independent voting board scored 0/100.
  • High — Accountability: Governance controls: 6 of 8 not reported.
  • High — Sustainability: Officer compensation ratio scored 16/100.