Hollyhock Residential Association
Nonprofit profile at a glance
- EIN
- 384004976
- IRS 990 coverage
- 2018–2018
- Forms available
- Form 990 2018
- Location
- Scottsdale, AZ, USA
- Phone
- 4692463513
- Rating
- 78
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Homeowners & Tenants Associations
Reported finances
- Revenue
- $1,023,642
- Expenses
- $1,047,117
- Assets
- $205,375
- Liabilities
- $203,517
Source: IRS Form 990. Selected filing: tax year 2018. Amounts in USD.
Leadership & pay
3 people listed
Executive titles in this filing
- STEVE MAGLISCEAU (PRESIDENT)
People named in this filing
- STEVE MAGLISCEAU (PRESIDENT)
- TRACY SIMMONS (VICE PRESIDE)
- JASON WIGHT (SECRETARY/TR)
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 2018. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The association is responsible for the operation, maintenance, security, upkeep, improvement and administration of the common areas within the development, such as grounds, swimming pool and fitness area.
What it reported doing in 2018
The association maintained the common areas such as parks, playgrounds and swimming pool and provided security and monitoring for the benefit of the entire community. The association provided community leadership, architechtural control, covenant enforcement, community events, accounting and finance, operation and maintenance of recreation facilities.
Operating model
- Revenue model
- Earned-program. 100% of the money available for current operations came from fees and other program revenue.
- 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
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: 88
- Transparency & Controls: 90
- Accountability: 70
- Sustainability: 27
- Growth: NotEnoughData
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 97.9%; rating input score 98
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 62nd 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: 2 of 7 controls in place; rating input score 29
- Conflict-of-interest policy: Fail
- 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: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: -2.3%; rating input score 29; 29th percentile among comparable filings
- Total-asset coverage ratio: 0.2; rating input score 10; 10th percentile among comparable filings
- Liabilities to assets ratio: 0.99; rating input score 7; 7th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 84; 84th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: Limited
- Asset growth: Limited
Details
- Where the money goes: 100% of revenue deployed · 97.9% of spending went to programs
- Governance: 3 of 3 board members independent · 2 of 7 filing controls reported
- Programs: 1 filed program accomplishment · $1M in reported program spending
- Leadership: top reported pay $0 · 3 people listed
- Highest-paid contractors: 2 contractors listed · $544K reported
- Consistency: 22 of 22 current checks pass
- Schedules: 3 filed schedules
- Contacts: How to reach this organization
- 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.
Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.
- High — Accountability: Governance controls: 4 of 6 not reported.
- High — Sustainability: Operating margin scored 29/100.
- High — Sustainability: Total-asset coverage ratio scored 10/100.
- High — Sustainability: Liabilities to assets ratio scored 7/100.
- High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.