Retirement Housing Foundation

Legal name: Pioneer Towers

Nonprofit profile at a glance

EIN
953103749
IRS 990 coverage
2009–2023
Official website data refreshed
Sep 2026
Forms available
Form 990 2023
Location
Long Beach, CA, US
Phone
562-257-5100
Rating
37
Verdict
REVIEW
Rating confidence
Moderate
Sector
Supportive Housing for Older Adults

Official website

Reported finances

Revenue
$689,966
Expenses
$0
Assets
$16,924,668
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2023. 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): $685,724 total reported compensation
  • AMBERG ROBERT R (EXECUTIVE VP GEN COUNSEL): $489,502 total reported compensation
  • ROSSELLO FRANK JR (CFO AND VP OF FINANCE): $403,817 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide and promote affordable housing and services for older adults, working-class families, and persons with disabilities.

What it reported doing in 2023

Pioneer towers is a California nonprofit operated for the benefit of, to perform the functions of, or to carry out the purposes of retirement housing foundation, as a publicly supported organization described in section 509(a)(2). Retirement housing foundation is organized and operated to develop, build, equip, operate and maintain affordable housing and accessory facilities. On april 28, 2011 the project sold to a related partnership, and now holds a role as a financing arm of the low income housing partnership as the sole member of pioneer towers rhf housing, llc.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

REVIEW - 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 few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 60
  • Accountability: 86
  • Sustainability: 11
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 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: Limited
  • Total-asset coverage ratio: Limited
  • Liabilities to assets ratio: 0; rating input score 92; 92nd percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: -11.8% per year; rating input score 0; 4th percentile among comparable filings
  • Revenue growth: -18.8% per year; rating input score 0; 2nd percentile among comparable filings
  • Asset growth: 3.5% per year; rating input score 100; 33rd percentile among comparable filings

Details

  • What they do: 4 programs and campaigns described on the official site · 1 operating location identified
  • Where the money goes: 0% of revenue deployed
  • Governance: 7 of 7 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $686K · 36 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 10 of 10 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 15 filing years from 2009 to 2023
  • 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.