MNC 1240 Valencia Inc

Nonprofit profile at a glance

EIN
853358007
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
San Francisco, CA, USA
Phone
8778295500
Rating
59
Verdict
MIXED
Rating confidence
Moderate
Sector
Youth Development N.E.C.

Reported finances

Revenue
$386,855
Expenses
$669,070
Assets
$17,929,973
Liabilities
$18,181,465

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

Leadership & pay

6 people listed

Executive titles in this filing

  • JOSE A RODRIGUEZ (BOARD PRESIDENT)

Highest reported compensation

  • SEBASTIAN ALIOTO (Treasurer): $289,261 total reported compensation
  • JOSE A RODRIGUEZ (BOARD PRESIDENT): $134,451 total reported compensation
  • SANTIAGO RUIZ (Executive Dir.): $52,000 total reported compensation

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

Overview

Mission

The purpose of the Corporation is to hold the leasehold intererst in the property located at 1240 Valencia Street, SAn francisco, CA 94102 which is leased to MNC.

What it reported doing in 2024

MNC 1240 is considered a support organization to support the activities of MNC. MNC 1240 is operating the site in a manner enabling it to qualify as a Qualified Active Low Income Community Business (QALICB) that receives Qualified Low Income Community Investment (QLICI) loans under a New Market Tax Credit (NMTC).

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

Rating breakdown

  • Financial Efficiency: 78
  • Transparency & Controls: 60
  • Accountability: 14
  • Sustainability: 34
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 68.1%; rating input score 68
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 0%; rating input score 0; 7th percentile among comparable filings
  • Governance controls: 3 of 9 controls in place; rating input score 33
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -73%; rating input score 3; 3rd percentile among comparable filings
  • Total-asset coverage ratio: 26.8; rating input score 97; 97th percentile among comparable filings
  • Liabilities to assets ratio: 1.01; rating input score 5; 5th percentile among comparable filings
  • Officer compensation ratio: 7.7%; rating input score 31; 31st percentile among comparable filings

Growth

  • Program expense growth: 29.1% per year; rating input score 100; 90th percentile among comparable filings
  • Revenue growth: 12.1% per year; rating input score 100; 77th percentile among comparable filings
  • Asset growth: 13.4% per year; rating input score 100; 74th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 68.1% of spending went to programs
  • Governance: 0 of 5 board members independent · 3 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $456K in reported program spending
  • Leadership: top reported pay $289K · 6 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 18 of 18 current checks pass
  • Schedules: 6 filed schedules · includes executive pay
  • Filing history: 5 filing years from 2020 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 — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Accountability: Governance controls: 6 of 9 not reported.
  • High — Sustainability: Operating margin scored 3/100.
  • High — Sustainability: Liabilities to assets ratio scored 5/100.
  • Moderate — Sustainability: Officer compensation ratio scored 31/100.