Menlo Charter Properties

Nonprofit profile at a glance

EIN
462869768
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
Redondo Beach, CA, USA
Phone
3102143400
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

Reported finances

Revenue
$2,057,064
Expenses
$2,167,479
Assets
$41,511,141
Liabilities
$35,610,785

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

Leadership & pay

7 people listed

Executive titles in this filing

  • BRUCE GREENSPON (PRESIDENT/CEO)

Highest reported compensation

  • FARNAZ GOLSHANI FLECHNER (SUPERINTENDENT (ENDING 05/2025)): $240,777 total reported compensation
  • DANIELLE KELSICK (SUPERINTENDENT (AS OF 05/2025)): $206,942 total reported compensation

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

Overview

Mission

To acquire, develop, construct, and/or renovate and lease to environmental charter schools such school facilities as may be required by environmental charter schools for operation of its public charter schools.

What it reported doing in 2024

Acquire, develop and construct school facilities to lease to environmental charter schools. Menlo charter properties leased three (3) properties to environmental charter schools for use by its public charter schools. During the year, roughly $16.8 million in capital outlay projects were converted from construction in progress to land and buildings with an additional $609,739 invested in additional construction projects that remained in progress at year end.

Operating model

Revenue model
Earned-program. 88% 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. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 60
  • Accountability: 84
  • Sustainability: 46
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 97.4%; rating input score 97
  • 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: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -5.4%; rating input score 19; 19th percentile among comparable filings
  • Total-asset coverage ratio: 19.15; rating input score 95; 95th percentile among comparable filings
  • Liabilities to assets ratio: 0.86; rating input score 9; 9th percentile among comparable filings
  • Officer compensation ratio: 3.3%; rating input score 67; 67th percentile among comparable filings

Growth

  • Program expense growth: 27.7% per year; rating input score 100; 91st percentile among comparable filings
  • Revenue growth: 21.9% per year; rating input score 100; 90th percentile among comparable filings
  • Asset growth: 19% per year; rating input score 100; 82nd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 97.4% of spending went to programs
  • Governance: 5 of 5 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $2.1M in reported program spending
  • Leadership: top reported pay $241K · 7 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 22 of 22 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 11 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • 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.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Sustainability: Operating margin scored 19/100.
  • High — Sustainability: Liabilities to assets ratio scored 9/100.