King-west Properties Inc

Nonprofit profile at a glance

EIN
205211100
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
Alexandria, VA, USA
Phone
7032993100
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

Reported finances

Revenue
$1,287,812
Expenses
$898,581
Assets
$13,432,603
Liabilities
$5,123,944

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

Leadership & pay

14 people listed

Executive titles in this filing

  • DAVID RELLING (PRESIDENT)
  • MICHELE THORMAN (VICE PRESIDENT)
  • WILLIAM HATHERILL (CEO)

Highest reported compensation

  • WILLIAM HATHERILL (CEO): $1,259,571 total reported compensation
  • LINDA MICHELSEN (CFO (THRU 8/16/24)): $302,669 total reported compensation
  • DAVID SIGMAN (CFO (EFF 9/16/24)): $100,423 total reported compensation

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

Overview

Mission

The sole purpose of the company is to hold title to property, collect income from such property and to turn over such income, less expenses, to the federation of state boards of physical therapy, an exempt 501(c)(6) organization in accordance with irc section 501(c)(2).

What it reported doing in 2024

The office building was put into service in july 2007. Two floors of the building are occupied by the organization's parent company, the federation of state boards of physical therapy, as its administrative offices. Space on the two floors is also rented to the foreign credentialing commission of physical therapy, a related 501(c)(6) organization.

Operating model

Revenue model
Earned-program. 84% 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 most voting board members are independent. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 67
  • Transparency & Controls: 60
  • Accountability: 100
  • Sustainability: 70
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 60.1%; rating input score 60
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • 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: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 30.2%; rating input score 84; 84th percentile among comparable filings
  • Total-asset coverage ratio: 14.95; rating input score 95; 95th percentile among comparable filings
  • Liabilities to assets ratio: 0.38; rating input score 20; 20th percentile among comparable filings
  • Officer compensation ratio: 39.1%; rating input score 4; 4th percentile among comparable filings

Growth

  • Program expense growth: -0.5% per year; rating input score 0; 16th percentile among comparable filings
  • Revenue growth: 7.7% per year; rating input score 100; 58th percentile among comparable filings
  • Asset growth: 3.3% per year; rating input score 100; 31st percentile among comparable filings

Details

  • Where the money goes: 60.1% of revenue deployed · 100% of spending went to programs
  • Governance: 8 of 8 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $899K in reported program spending
  • Leadership: top reported pay $1.3M · 14 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 21 of 21 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 12 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 3 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.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 4/100.
  • High — Sustainability: Liabilities to assets ratio scored 20/100.