Nickerson Area Properties

Nonprofit profile at a glance

EIN
300099064
IRS 990 coverage
2011–2013
Forms available
Form 990 2013
Location
Seattle, WA, USA
Phone
2126821106
Rating
66
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Nonmonetary Support N.E.C.

Reported finances

Revenue
$2,444,200
Expenses
$1,106,093
Assets
$5,585
Liabilities
$5,429

Source: IRS Form 990. Selected filing: tax year 2013. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • STEPHANIE DUGAN (PRESIDENT)

Highest reported compensation

  • PATRICIA THOMSON (TREASURER): $418,907 total reported compensation
  • JOHN FINKE (VICE PRES.): $385,296 total reported compensation
  • KEVIN GREMSE (SECRETARY): $229,912 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2013. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Promotion of education and social welfare and the construction and operation of a residential facility for occupancy by students, faculty and staff of seattle pacific university.

What it reported doing in 2013

To lessen the burden of government by obtaining financing to construct, own and operate two residence buildings for student housing on the campus of seattle pacific university.

Operating model

Revenue model
Earned-program. 96% 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 a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 60
  • Accountability: 40
  • Sustainability: 47
  • Growth: 40

Detailed rating inputs

Financial Efficiency

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

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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: 20%; rating input score 20; 6th percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 67
    • 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: Fail

Sustainability

  • Operating margin: 54.7%; rating input score 95; 95th percentile among comparable filings
  • Total-asset coverage ratio: 0.01; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: 0.97; rating input score 8; 8th percentile among comparable filings
  • Officer compensation ratio: 23.1%; rating input score 6; 6th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 40.2% per year; rating input score 100; 95th percentile among comparable filings
  • Asset growth: -76.2% per year; rating input score 0; 0th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 1 of 5 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1.1M in reported program spending
  • Leadership: top reported pay $419K · 5 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 18 of 18 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 3 filing years from 2011 to 2013
  • Contacts: How to reach this organization
  • Related organizations: 7 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Accountability: Independent voting board scored 20/100.
  • Review — Accountability: Governance controls: 3 of 9 not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • High — Sustainability: Officer compensation ratio scored 6/100.
  • High — Sustainability: Liabilities to assets ratio scored 8/100.