South Bay Improvement Association

Nonprofit profile at a glance

EIN
770210296
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
San Luis Obispo, CA, USA
Phone
8057813088
Rating
85
Verdict
STRONG
Rating confidence
Moderate
Sector
Low-Income & Subsidized Rental Housing

Reported finances

Revenue
$1,297,337
Expenses
$1,471,076
Assets
$4,892,469
Liabilities
$5,336,342

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

Leadership & pay

6 people listed

Executive titles in this filing

  • Griffin Moore (Vice President)

People named in this filing

  • Christi Ware (Director)
  • Anna Miller (Director)
  • Griffin Moore (Vice President)

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

Provide affordable rental housing for 104 total rental units, serving low-income seniors and disabled persons.

What it reported doing in 2024

Provide affordable housing and social services for low-income households including seniors and disabled persons. Sea Breeze Apartments and South Bay Apartments, total of 104 rental housing units.

Operating model

Revenue model
Earned-program. 99% of the money available for current operations came from fees and other program revenue.
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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 90
  • Accountability: 88
  • Sustainability: 39
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 90.4%; rating input score 90
  • 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: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • 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: -13.4%; rating input score 14; 14th percentile among comparable filings
  • Total-asset coverage ratio: 3.33; rating input score 77; 77th percentile among comparable filings
  • Liabilities to assets ratio: 1.09; rating input score 5; 5th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 4.9% per year; rating input score 100; 42nd percentile among comparable filings
  • Revenue growth: 2.7% per year; rating input score 100; 29th percentile among comparable filings
  • Asset growth: -1.3% per year; rating input score 0; 14th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 90.4% of spending went to programs
  • Governance: 6 of 6 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $1.3M in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 11 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 2 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 — Sustainability: Operating margin scored 14/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 5/100.