Pahc Sheridan Apartments Inc
Nonprofit profile at a glance
- EIN
- 770480421
- IRS 990 coverage
- 2014–2024
- Forms available
- Form 990 2024
- Location
- Palo Alto, CA, USA
- Phone
- 6503219709
- Rating
- 80
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Housing Development, Construction, Management
Reported finances
- Revenue
- $128,828
- Expenses
- $484,149
- Assets
- $172,678
- Liabilities
- $2,372,081
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
17 people listed
Executive titles in this filing
- RANDAL TSUDA (PRESIDENT & CEO)
Highest reported compensation
- RANDAL TSUDA (PRESIDENT & CEO): $362,066 total reported compensation
- MARC GARCIA (CFO): $266,315 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 provide housing for low-income persons; to serve as a general partner in a limited partnership which owns and operates housing for the benefit of low-income persons and to support the purposes of palo alto housing corporation.
What it reported doing in 2024
The organization serves as general partner to two partnerships which provide low-income rental housing to approximately 110 low-income families. The specific charitable and public purposes for which the corporation is organized are (1) to provide housing for low-income persons, where no adequate housing exists for such groups; (2) to serve as general partner in a limited partnership which owns and operates housing for the benefit of low-income persons who are in need of affordable, decent, safe and sanitary housing and related services, where no adequate housing exists for such groups; and (3) to support the purposes of palo alto housing corporation, a California nonprofit public benefit corporation which is exempt from federal income tax as an organization described in irc section 501(c)(3).
Operating model
- Revenue model
- Earned-program. 100% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Hybrid. The nonprofit split its reported program spending across 76% for direct work, and 24% for grants.
The verdict
STRONG - 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 expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 89
- Transparency & Controls: 68
- Accountability: 100
- Sustainability: 8
- Growth: 80
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 99.6%; rating input score 100
- 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: 100%; rating input score 100; 80th percentile among comparable filings
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 9 of 9 controls in place; rating input score 100
- 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: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -275.8%; rating input score 1; 1st percentile among comparable filings
- Total-asset coverage ratio: 0.36; rating input score 18; 18th percentile among comparable filings
- Liabilities to assets ratio: 13.74; rating input score 0; 0th percentile among comparable filings
- Officer compensation ratio: 24.2%; rating input score 15; 15th percentile among comparable filings
Growth
- Program expense growth: 16% per year; rating input score 100; 80th percentile among comparable filings
- Revenue growth: 4.1% per year; rating input score 100; 47th percentile among comparable filings
- Asset growth: -18.4% per year; rating input score 0; 3rd percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 99.6% of spending went to programs
- Governance: 15 of 15 board members independent · 9 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $482K in reported program spending
- Leadership: top reported pay $362K · 17 people listed · 0 of 6 pay-setting controls reported
- Consistency: 15 of 15 current checks pass
- Schedules: 6 filed schedules · includes grants and executive pay
- Filing history: 10 filing years from 2014 to 2024
- Contacts: How to reach this organization
- Money network: 2 filed money-flow records
- Related organizations: 25 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 — Sustainability: Operating margin scored 1/100.
- High — Sustainability: Total-asset coverage ratio scored 18/100.
- High — Growth: Asset growth scored 0/100.
- High — Sustainability: Liabilities to assets ratio scored 0/100.
- High — Sustainability: Officer compensation ratio scored 15/100.