Montrose Voa Elderly Housing Inc Centennial Tower

Nonprofit profile at a glance

EIN
721259853
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Alexandria, VA, USA
Phone
7033415000
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$488,398
Expenses
$502,638
Assets
$1,452,089
Liabilities
$66,203

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

Leadership & pay

24 people listed

Executive titles in this filing

  • MICHAEL W KING (PRESIDENT)

Highest reported compensation

  • MICHAEL W KING (PRESIDENT): $868,407 total reported compensation
  • DAVID NISIVOCCIA (ASST. TREAS/): $516,603 total reported compensation
  • JOSEPH BUDZYNSKI (ASST TREAS/S): $465,439 total reported compensation

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

Overview

Mission

Provides housing to elderly and disabled persons & families under section 202 of the national housing act under an agreement with the department of hud.

Operating model

Revenue model
Earned-program. 98% 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: 83
  • Transparency & Controls: 60
  • Accountability: 83
  • Sustainability: 40
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 93.5%; rating input score 94
  • Program expense ratio: 92.7%; rating input score 93
  • 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: 86.7%; rating input score 87; 23rd percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -2.9%; rating input score 33; 33rd percentile among comparable filings
  • Total-asset coverage ratio: 2.89; rating input score 68; 68th percentile among comparable filings
  • Liabilities to assets ratio: 0.05; rating input score 33; 33rd percentile among comparable filings
  • Officer compensation ratio: 124.3%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: 1.5% per year; rating input score 100; 37th percentile among comparable filings
  • Revenue growth: 3.3% per year; rating input score 100; 43rd percentile among comparable filings
  • Asset growth: -2% per year; rating input score 0; 18th percentile among comparable filings

Details

  • Where the money goes: 93.5% of revenue deployed · 92.7% of spending went to programs
  • Governance: 13 of 15 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $466K in reported program spending
  • Leadership: top reported pay $868K · 24 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 26 of 26 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 188 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • Moderate — Sustainability: Operating margin scored 33/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 1/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 33/100.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.