Highbridge Facilities Llc

Nonprofit profile at a glance

EIN
844944973
IRS 990 coverage
2020–2024
Forms available
Form 990 2024, Form 990-EZ 2020, Form 990-T 2024
Location
Bronx, NY, USA
Phone
2022851115
Rating
86
Verdict
STRONG
Rating confidence
Moderate
Sector
Single Organization Support

Reported finances

Revenue
$8,190,735
Expenses
$11,719,352
Assets
$129,982,250
Liabilities
$130,561,858

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

Leadership & pay

5 people listed

People named in this filing

  • JOEL RIVERA (CHAIRMAN)
  • ROSA MERCADO (SECRETARY)
  • NILZA OYOLA (DIRECTOR)

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

The purpose of highbridge facilities llc is to acquire, develop, construct, own, lease, operate and maintain real property assets for the benefit of family life academy charter school (flacs), a network of community-based tax-exempt charter schools.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
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

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: 88
  • Transparency & Controls: 92
  • Accountability: 82
  • Sustainability: 40
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 98.1%; rating input score 98
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 7th 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • 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: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -43.1%; rating input score 3; 3rd percentile among comparable filings
  • Total-asset coverage ratio: 11.09; rating input score 92; 92nd percentile among comparable filings
  • Liabilities to assets ratio: 1; rating input score 5; 5th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: 44.6% per year; rating input score 100; 96th percentile among comparable filings
  • Revenue growth: 39.7% per year; rating input score 100; 96th percentile among comparable filings
  • Asset growth: 18.8% per year; rating input score 100; 82nd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 98.1% of spending went to programs
  • Governance: 4 of 4 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $11.5M in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 19 of 20 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules
  • Filing history: 5 filing years from 2020 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.

  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Sustainability: Operating margin scored 3/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 5/100.