Martin Luther Tower Inc

Nonprofit profile at a glance

EIN
946108510
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
San Francisco, CA, USA
Phone
4158851084
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Senior Citizens' Housing/Retirement Communities

Official website

Reported finances

Revenue
$1,470,696
Expenses
$1,582,545
Assets
$16,934,114
Liabilities
$8,483,649

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

Leadership & pay

10 people listed

Executive titles in this filing

  • BARBARA BOCK (VICE PRESIDENT)
  • SUSIE SMITH (VICE PRESIDENT)
  • SHANNON CHENG (PRESIDENT)

People named in this filing

  • BARBARA BOCK (VICE PRESIDENT)
  • SUSIE SMITH (VICE PRESIDENT)
  • SHANNON CHENG (PRESIDENT)

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 corporation is the general partner of a partnership that operates a 121-unit apartment complex that provides rental housing for the benefit of elderly residents. Residents have access to some activities and social services.

What it reported doing in 2024

Interest income and investment in low income housing rental real estate, which includes resident and social services for tenants.

Operating model

Revenue model
Earned-program. 94% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 92% 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. Expenses are high relative to revenue and some filed totals do not add up.

Rating breakdown

  • Financial Efficiency: 69
  • Transparency & Controls: 90
  • Accountability: 100
  • Sustainability: 48
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 79.2%; rating input score 79
  • Program expense ratio: 74.8%; rating input score 75
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 22nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 7 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -7.6%; rating input score 20; 20th percentile among comparable filings
  • Total-asset coverage ratio: 10.7; rating input score 92; 92nd percentile among comparable filings
  • Liabilities to assets ratio: 0.5; rating input score 16; 16th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 3.3% per year; rating input score 100; 33rd percentile among comparable filings
  • Revenue growth: 7.5% per year; rating input score 100; 57th percentile among comparable filings
  • Asset growth: 2% per year; rating input score 100; 25th percentile among comparable filings

Details

  • Where the money goes: 79.2% of revenue deployed · 74.8% of spending went to programs
  • Governance: 10 of 10 board members independent · 7 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $1.2M in reported program spending
  • Leadership: top reported pay $0 · 10 people listed
  • Highest-paid contractors: 1 contractor listed · $193K reported
  • Consistency: 24 of 25 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 4 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 20/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 16/100.