Ridgeway Place Inc

Nonprofit profile at a glance

EIN: 421416064
IRS 990 coverage: 2009–2017
Forms available: Form 990 2017
Location: Wheaton, IL, USA
Phone: 6309096600
Rating: 41
Verdict: MIXED
Rating confidence: Moderate
Sector: Housing Development, Construction, Management

Reported finances

Revenue: $923,506
Expenses: $85,168
Assets: $0
Liabilities: $0

Source: IRS Form 990. Selected filing: tax year 2017. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

JOHN OLIVERIO (PRESIDENT/VICE CHAIR)

Highest reported compensation

JOHN OLIVERIO (PRESIDENT/VICE CHAIR): $2,711,132 total reported compensation
SUSAN DILLBERG (CHAIR/DIRECTOR): $362,722 total reported compensation
SHARI L KOEHLER (SECRETARY/TREASURER): $181,368 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2017. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

What it reported doing in 2017

Ridgeway place, inc., a wholly owned subsidiary of franciscan ministries, inc., was formed on october 20, 1993 in accordance with the not-for-profit statutes of the state of Iowa for the purpose of providing housing and related services, especially for families and individuals of low-income, and particulary for low and moderate income housing and retirement housing for the elderly in waterloo, Iowa.after a period of discernment, the decision was made that the housing units would be best served under new sponsorship. A new sponsor was not found for ridgeway place inc and the organization ceased operations at the end of february 2017.

Operating model

Revenue model: Other-operating. 100% of the money available for current operations came from other operating revenue.
Distribution model: Direct operator. The filing allocates 88% 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

MIXED - The filed numbers largely add up. A relatively small share of available resources goes toward mission work and a relatively small share of voting board members are independent.

Rating breakdown

Financial Efficiency: 37
Transparency & Controls: 68
Accountability: 18
Sustainability: 47
Growth: 0

Detailed rating inputs

Financial Efficiency

Mission deployment rate: 8.7%; rating input score 9
Program expense ratio: 94.5%; rating input score 95
Fundraising efficiency: Limited

Transparency & Controls

Consistency checks: 100%; rating input score 100; 62nd 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; 74th percentile among comparable filings
Major donor itemization: Limited
Related-party transparency: Limited

Accountability

Independent voting board: 0%; rating input score 0; 4th percentile among comparable filings
Governance controls: 4 of 9 controls in place; rating input score 44
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Fail
- Other executive compensation review process: Fail
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail

Sustainability

Operating margin: 90.8%; rating input score 99; 99th percentile among comparable filings
Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
Liabilities to assets ratio: Limited
Officer compensation ratio: 59%; rating input score 1; 1st percentile among comparable filings

Growth

Program expense growth: -33.5% per year; rating input score 0; 2nd percentile among comparable filings
Revenue growth: -4.9% per year; rating input score 0; 11th percentile among comparable filings
Asset growth: -11.2% per year; rating input score 0; 6th percentile among comparable filings

Details

Where the money goes: 8.7% of revenue deployed · 94.5% of spending went to programs
Governance: 0 of 4 board members independent · 4 of 9 filing controls reported
Programs: 1 filed program accomplishment · $81K in reported program spending
Leadership: top reported pay $2.7M · 4 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: 8 filing years from 2009 to 2017
Contacts: How to reach this organization
Money network: 1 filed money-flow record
Related organizations: 8 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 9/100.
High — Accountability: Independent voting board scored 0/100.
High — Transparency & Controls: Pay-setting controls scored 0/100.
Moderate — Accountability: Governance controls: 4 of 8 not reported.
High — Growth: Program expense growth scored 0/100.
High — Growth: Revenue growth scored 0/100.
High — Sustainability: Total-asset coverage ratio scored 0/100.
High — Growth: Asset growth scored 0/100.
High — Sustainability: Officer compensation ratio scored 1/100.