Pine Crest Rhf Housing Inc
Nonprofit profile at a glance
- EIN
- 760713635
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024, Form 990-N 2020
- Location
- Long Beach, CA, USA
- Phone
- 5622575100
- Rating
- 48
- Verdict
- MIXED
- Rating confidence
- Moderate
- Sector
- Educational Services and Schools - Other
Reported finances
- Revenue
- $74,406
- Expenses
- $250
- Assets
- $1,656,947
- Liabilities
- $185,171
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
36 people listed
Executive titles in this filing
- HARTMAN STUART J (PRESIDENT/CEO)
- DESAEGHER NORMA N (VICE PRESIDENT)
Highest reported compensation
- HARTMAN STUART J (PRESIDENT/CEO): $770,133 total reported compensation
- AMBERG ROBERT R (EXECUTIVE VP GEN COUNSEL): $530,647 total reported compensation
- ROSSELLO FRANK JR (CFO AND VP OF FINANCE): $488,122 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Pine crest rhf housing, inc. Is a not-for-profit corporation formed in accordance with the not-for-profit statutes of the commonwealth of Massachusetts. The corporation was formed for the purpose of providing housing to low income families and operated a 114 unit community known as pine crest apartments located in orange, Massachusetts. On december 27, 2018 this property was transferred to a related entity. On august 28, 2020, the entity acquired and began operating a 100 unit community known as hillcrest apartments in attleboro, Massachusetts. On september 16, 2022, the property sold to hillcrest rhf partners, limited partnership. Pine crest rhf housing, inc. Now funds the project through a seller carryback loan, and is the majority member of hillcrest rhf mgp, llc. The main purpose of this entity going forward will be a financing arm of the low income housing project through the new partnership.
Operating model
- Revenue model
- Investment-supported. 100% of the money available for current operations came from recurring investment income.
- Distribution model
- No current program activity. The filing reports no program spending for the current year.
The verdict
MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.
Rating breakdown
- Financial Efficiency: 0
- Transparency & Controls: 82
- Accountability: 86
- Sustainability: 79
- Growth: 40
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 0%; rating input score 0
- Program expense ratio: 0%; rating input score 0
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: 4 of 6 controls in place; rating input score 67
- Compensation committee: Pass
- Independent consultant: Pass
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Pass
- Board or committee approval: Pass
- 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; 64th 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: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 99.7%; rating input score 100; 100th percentile among comparable filings
- Total-asset coverage ratio: 6,627.79; rating input score 100; 100th percentile among comparable filings
- Liabilities to assets ratio: 0.11; rating input score 18; 18th percentile among comparable filings
- Officer compensation ratio: 305,006.8%; rating input score 0; 0th percentile among comparable filings
Growth
- Program expense growth: -7.6% per year; rating input score 0; 33rd percentile among comparable filings
- Revenue growth: 0.2% per year; rating input score 100; 60th percentile among comparable filings
- Asset growth: -5.9% per year; rating input score 0; 19th percentile among comparable filings
Details
- Where the money goes: 0% of revenue deployed · 0% of spending went to programs
- Governance: 7 of 7 board members independent · 6 of 9 filing controls reported
- Programs: 1 filed program accomplishment
- Leadership: top reported pay $770K · 36 people listed · 4 of 6 pay-setting controls reported
- Consistency: 16 of 16 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: 236 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 — Financial Efficiency: Mission deployment rate scored 0/100.
- High — Financial Efficiency: Program expense ratio scored 0/100.
- Review — Accountability: Governance controls: 2 of 8 not reported.
- High — Growth: Program expense growth scored 0/100.
- High — Growth: Asset growth scored 0/100.
- High — Sustainability: Officer compensation ratio scored 0/100.
- High — Sustainability: Liabilities to assets ratio scored 18/100.