Rodeo Senior Apartments Inc

Nonprofit profile at a glance

EIN
680449067
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
San Rafael, CA, USA
Phone
4152581800
Rating
66
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Senior Citizens' Housing/Retirement Communities

Reported finances

Revenue
$655,468
Expenses
$591,803
Assets
$7,213,581
Liabilities
$7,913,820

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

Leadership & pay

3 people listed

Executive titles in this filing

  • LESLIE DABI (PRESIDENT)
  • WELTON JORDAN (VICE PRESIDENT)

Highest reported compensation

  • LAURA HALL (SECRETARY/TREAS): $673,413 total reported compensation
  • WELTON JORDAN (VICE PRESIDENT): $492,640 total reported compensation
  • LESLIE DABI (PRESIDENT): $262,609 total reported compensation

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

Overview

Mission

To provide low-income housing for the elderly

What it reported doing in 2024

The corporation serves as the sole member of a limited liability company that serves as the general partner in a limited partnership which provides 50 units of low-income housing in rodeo, calfornia.

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 94% 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 the filed numbers largely add up. A relatively small share of voting board members are independent and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 61
  • Accountability: 28
  • Sustainability: 59
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 94.1%; rating input score 94
  • Program expense ratio: 100%; rating input score 100
  • 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: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 5th percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 67
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 9.7%; rating input score 61; 61st percentile among comparable filings
  • Total-asset coverage ratio: 12.19; rating input score 93; 93rd percentile among comparable filings
  • Liabilities to assets ratio: 1.1; rating input score 5; 5th percentile among comparable filings
  • Officer compensation ratio: 15.9%; rating input score 21; 21st percentile among comparable filings

Growth

  • Program expense growth: 5% per year; rating input score 100; 42nd percentile among comparable filings
  • Revenue growth: 17.1% per year; rating input score 100; 82nd percentile among comparable filings
  • Asset growth: 1.6% per year; rating input score 100; 24th percentile among comparable filings

Details

  • Where the money goes: 94.1% of revenue deployed · 100% of spending went to programs
  • Governance: 0 of 3 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $592K in reported program spending
  • Leadership: top reported pay $673K · 3 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 15 of 16 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors and executive pay
  • Filing history: 12 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 54 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 — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 3 of 9 not reported.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 5/100.
  • High — Sustainability: Officer compensation ratio scored 21/100.