Medical Arts at Village Center Condominium Associations Inc

Nonprofit profile at a glance

EIN
593832810
IRS 990 coverage
2021–2024
Forms available
Form 990 2024, Form 990-EZ 2020
Location
Deerfield Beach, FL, USA
Phone
9545708503
Rating
68
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$255,961
Expenses
$237,141
Assets
$66,405
Liabilities
$0

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

Leadership & pay

3 people listed

Executive titles in this filing

  • IRV MARCUS (TREASURER/PRESIDENT)

People named in this filing

  • IRV MARCUS (TREASURER/PRESIDENT)
  • Francine Schwab (DIRECTOR)
  • ROBERT COHEN (SECRETARY)

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

To make and collect assessments on condominium owners for the maintenance of common areas on a quarterly basis.

What it reported doing in 2024

This is a condominium association for the benefit of its members. The association is organized on a non-stock basis as a Florida non-profit corporation. The association makes assessments to each unit on a quarterly basis to be used for the anticipated current operating expenses and for all of the unpaid operating expenses previously incurred. Additionally, the association is responsible for the maintenance of the structural and mechanical elements of any common area. The responsibilities of the association began on june 1, 2006 and have been conducted on a quarterly basis for the collection of assessments and on an as needed basis for the maintenance of the common areas.

Operating model

Revenue model
Membership-supported. 91% of the money available for current operations came from membership dues.
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 total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 85
  • Transparency & Controls: 90
  • Accountability: 0
  • Sustainability: 48
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 92.7%; rating input score 93
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: Limited
  • Governance controls: 0 of 7 controls in place; rating input score 0
    • 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: Fail
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 7.4%; rating input score 55; 55th percentile among comparable filings
  • Total-asset coverage ratio: 0.28; rating input score 15; 15th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 6% per year; rating input score 100; 58th percentile among comparable filings
  • Revenue growth: 3.5% per year; rating input score 100; 44th percentile among comparable filings
  • Asset growth: 5.4% per year; rating input score 100; 49th percentile among comparable filings

Details

  • Where the money goes: 92.7% of revenue deployed · 100% of spending went to programs
  • Governance: 0 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $237K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 16 of 16 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 4 filing years from 2021 to 2024
  • Contacts: How to reach this organization
  • 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 — Accountability: Governance controls: 6 of 6 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 15/100.
  • Review — Sustainability: Operating margin scored 55/100.