Piazza Apartments

Nonprofit profile at a glance

EIN
262377601
IRS 990 coverage
2024–2024
Forms available
Form 990 2024
Location
Plantation, FL, USA
Phone
9548359200
Rating
64
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Official website

Reported finances

Revenue
$513,980
Expenses
$870,020
Assets
$7,890,022
Liabilities
$973,308

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

Leadership & pay

10 people listed

Executive titles in this filing

  • CHRISTOPHER SHELTON (PRESIDENT)

Highest reported compensation

  • MELANIE RIBEIRO (VICE PRESIDE): $521,004 total reported compensation

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

Overview

Mission

Operation of low income housing for the elderly and handicapped. Regulated and assisted by the department of housing and urban development (hud).

Operating model

Revenue model
Earned-program. 99% 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 most voting board members are independent. 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: 76
  • Transparency & Controls: 56
  • Accountability: 74
  • Sustainability: 37
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 62.3%; rating input score 62
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 19th 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; 63rd percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -69.3%; rating input score 2; 2nd percentile among comparable filings
  • Total-asset coverage ratio: 9.07; rating input score 91; 91st percentile among comparable filings
  • Liabilities to assets ratio: 0.12; rating input score 39; 39th percentile among comparable filings
  • Officer compensation ratio: 8.7%; rating input score 41; 41st percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 100% of revenue deployed · 62.3% of spending went to programs
  • Governance: 9 of 9 board members independent · 3 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $542K in reported program spending
  • Leadership: top reported pay $521K · 10 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 31 of 32 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes executive pay
  • 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.

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.
  • Moderate — Accountability: Governance controls: 5 of 8 not reported.
  • High — Sustainability: Operating margin scored 2/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Moderate — Sustainability: Liabilities to assets ratio scored 39/100.
  • Moderate — Sustainability: Officer compensation ratio scored 41/100.
  • Review — Grant Readiness: California registration: this organization could not be resolved against the register, so the check is unfinished.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.