South Beach Plaza Inc

Nonprofit profile at a glance

EIN
830500200
IRS 990 coverage
2010–2020
Forms available
Form 990 2020
Location
N Miami Beach, FL, USA
Phone
3059170460
Rating
39
Verdict
REVIEW
Rating confidence
Moderate
Sector
Parks and Playgrounds
Affiliation
Judaism

Official website

Reported finances

Revenue
$1,000
Expenses
$1,000
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • ELAINE BLOOM (CEO & PRESIDENT)

Highest reported compensation

  • ELAINE BLOOM (CEO & PRESIDENT): $369,178 total reported compensation
  • HARRY FRUHMAN (CHIEF FINANCIAL OFFICER): $367,616 total reported compensation
  • DANIEL GALBUT (DIRECTOR OF OPERATIONS): $252,362 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2020. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The organization rented a skilled nursing facility to hebrew homes of south beach, inc., a related 501(c)(3) organization, and supports its overall mission until october 2013. The organization is in the process of dissolving.

What it reported doing in 2020

The organization rented a skilled nursing facility to hebrew homes of south beach, inc., a related 501(c)(3) organization, for the purpose of assisting this affiliated entity in achieving its tax-exempt purpose. As of october 21, 2013, south beach plaza, inc. And hebrew homes of south beach, inc., discontinued its operations.

Operating model

Revenue model
Affiliate-supported. 100% of the money available for current operations came from contributions from related organizations.
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 a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 67
  • Accountability: 83
  • Sustainability: 27
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • 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: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 85.7%; rating input score 86; 24th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 0%; rating input score 57; 57th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 8,131.1%; rating input score 0; 0th percentile among comparable filings

Growth

  • Program expense growth: -50.5% per year; rating input score 0; 8th percentile among comparable filings
  • Revenue growth: -12.7% per year; rating input score 0; 31st percentile among comparable filings
  • Asset growth: 7.6% per year; rating input score 100; 74th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 6 of 7 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $369K · 10 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 15 of 15 current checks pass
  • Schedules: 5 filed schedules · includes executive pay and related organizations
  • Filing history: 11 filing years from 2010 to 2020
  • Contacts: How to reach this organization
  • Related organizations: 20 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 — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • Review — Sustainability: Operating margin scored 57/100.
  • High — Sustainability: Officer compensation ratio scored 0/100.