Menlo Gateway Inc

Nonprofit profile at a glance

EIN
770132850
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Foster City, CA, USA
Phone
6503562900
Rating
46
Verdict
MIXED
Rating confidence
Moderate
Sector
Scouting

Reported finances

Revenue
$35,402
Expenses
$2,899
Assets
$402,513
Liabilities
$3,372

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

Leadership & pay

22 people listed

Executive titles in this filing

  • MATTHEW O FRANKLIN (CEO/PRESIDENT/ASST. SECRET)

Highest reported compensation

  • MATTHEW O FRANKLIN (CEO/PRESIDENT/ASST. SECRET): $716,168 total reported compensation
  • MICHAEL J VERGURA (CFO / ASSISTANT SECRETARY): $550,709 total reported compensation
  • KASEY ARCHEY (ASSISTANT SECRETARY): $457,923 total reported compensation

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

Overview

Mission

In conjunction with related organizations, midpen housing corporation's mission is to provide safe, affordable housing of high quality to those in need; to establish stability and opportunity in the lives of residents; and to foster diverse communities that allow people from all ethnic, social and economic backgrounds to live in dignity, harmony and mutual respect.

What it reported doing in 2024

To provide affordable housing for low to moderate income families, theelderly, and the disabled.

Operating model

Revenue model
Investment-supported. 91% of the money available for current operations came from recurring investment income.
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

MIXED - Most voting board members are independent and the filed numbers largely add up. A relatively small share of available resources goes toward mission work and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 13
  • Transparency & Controls: 60
  • Accountability: 95
  • Sustainability: 78
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0.3%; rating input score 0
  • Program expense ratio: 37.7%; rating input score 38
  • 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; 64th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 91.8%; rating input score 98; 98th percentile among comparable filings
  • Total-asset coverage ratio: 138.85; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 29; 29th percentile among comparable filings
  • Officer compensation ratio: 13,478.5%; rating input score 0; 0th percentile among comparable filings

Growth

  • Program expense growth: -14% per year; rating input score 0; 23rd percentile among comparable filings
  • Revenue growth: -10.6% per year; rating input score 0; 31st percentile among comparable filings
  • Asset growth: -10.8% per year; rating input score 0; 13th percentile among comparable filings

Details

  • Where the money goes: 0.3% of revenue deployed · 37.7% of spending went to programs
  • Governance: 14 of 14 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1K in reported program spending
  • Leadership: top reported pay $716K · 22 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 14 of 14 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 14 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 205 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 — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 38/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • High — Sustainability: Officer compensation ratio scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 29/100.