Retail Store Employees Building Corporation

Nonprofit profile at a glance

EIN
237134096
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
San Jose, CA, USA
Phone
4082945380
Rating
62
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Low-Income & Subsidized Rental Housing

Reported finances

Revenue
$1,070,455
Expenses
$23,391
Assets
$35,630,259
Liabilities
$0

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

Leadership & pay

3 people listed

Executive titles in this filing

  • JOHN FRAHM (PRESIDENT)

People named in this filing

  • RON LIND (DIRECTOR)
  • JOHN FRAHM (PRESIDENT)
  • HUASCAR CASTRO (BOARD MEMBER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

Retail store employees building corporation is a not-for-profit corporation formed in accordance with the not-for-profit statutes of the state of California. The corporation was formed to provide rental housing and related facilities or the elderly designed to meet their physical, social and psychological needs and which will contribute to their health, security, happiness and usefulness in longer living.a partnership purchased the project and retail store employees building corporation now funds casa del pueblo preservation limited partnership via a seller surplus cash note. The main purpose of this entity on a go forward basis will to be a financing arm of the low income housing project through the partnership.

What it reported doing in 2024

The corporation was organized to own and operate an apartment complex consisting of 165 rental units in san jose, California under section 236 of the national housing act. Such projects are regulated by hud as to rent charges and operating methods.a partnership purchased the project and retail store employees building corporation now funds casa del pueblo preservation limited partnership via a seller surplus cash note. The main purpose of this entity on a go forward basis will be a financing arm of the low income housing project through the partnership.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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 - 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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 34
  • Transparency & Controls: 90
  • Accountability: 76
  • Sustainability: 97
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0.9%; rating input score 1
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • 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 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 97.8%; rating input score 100; 100th percentile among comparable filings
  • Total-asset coverage ratio: 1,523.25; rating input score 100; 100th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: -34% per year; rating input score 0; 1st percentile among comparable filings
  • Revenue growth: -9.6% per year; rating input score 0; 3rd percentile among comparable filings
  • Asset growth: 12.3% per year; rating input score 100; 66th percentile among comparable filings

Details

  • Where the money goes: 0.9% of revenue deployed · 100% of spending went to programs
  • Governance: 3 of 3 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $23K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 11 of 11 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 14 filing years from 2010 to 2024
  • 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.

  • High — Financial Efficiency: Mission deployment rate scored 1/100.
  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.