Macarthur Park Towers

Nonprofit profile at a glance

EIN
953000996
IRS 990 coverage
2009–2023
Forms available
Form 990 2023
Location
Long Beach, CA, USA
Phone
5622575100
Rating
86
Verdict
STRONG
Rating confidence
Moderate
Sector
Senior Citizens' Housing/Retirement Communities

Reported finances

Revenue
$639,352
Expenses
$1,648,880
Assets
$14,841,863
Liabilities
$21,800

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

Leadership & pay

36 people listed

Executive titles in this filing

  • HARTMAN STUART J (PRESIDENT/CEO)
  • DESAEGHER NORMA N (VICE PRESIDENT)

Highest reported compensation

  • HARTMAN STUART J (PRESIDENT/CEO): $685,724 total reported compensation
  • AMBERG ROBERT R (EXECUTIVE VP GEN COUNSEL): $489,502 total reported compensation
  • ROSSELLO FRANK JR (CFO AND VP OF FINANCE): $403,817 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 affordable housing for low-income seniors, based on need, in an environment enhancing the quality of life as it relates to their physical, mental and spiritual well-being.

What it reported doing in 2023

To provide affordable housing assistance and services to low-income elderly persons and financing to affordable housing facilities to create an environment that enhances the quality of life as it relates to their physical, mental and spiritual well-being.

Operating model

Revenue model
Earned-program. 98% of the money available for current operations came from fees and other program revenue.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 86
  • Accountability: 91
  • Sustainability: 37
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 99.9%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -157.9%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 9; rating input score 91; 91st percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 40.2%; rating input score 3; 3rd percentile among comparable filings

Growth

  • Program expense growth: 19.4% per year; rating input score 100; 81st percentile among comparable filings
  • Revenue growth: 2.5% per year; rating input score 100; 30th percentile among comparable filings
  • Asset growth: 1.9% per year; rating input score 100; 26th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 99.9% of spending went to programs
  • Governance: 7 of 7 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1.6M in reported program spending
  • Leadership: top reported pay $686K · 36 people listed · 4 of 6 pay-setting controls reported
  • Consistency: 14 of 14 current checks pass
  • Schedules: 6 filed schedules · includes grants and executive pay
  • Filing history: 15 filing years from 2009 to 2023
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 237 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 — Sustainability: Operating margin scored 1/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Officer compensation ratio scored 3/100.