Tassafaronga Housing Corporation
Nonprofit profile at a glance
- EIN
- 261358548
- IRS 990-EZ coverage
- 2012–2024
- Forms available
- Form 990 2011, Form 990-EZ 2024
- Location
- Oakland, CA, USA
- Phone
- 5108741500
- Rating
- 87
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Housing Development, Construction, Management
Reported finances
- Revenue
- $26,351
- Expenses
- $2,027,298
- Assets
- $131,812
- Liabilities
- $8,879,302
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
6 people listed
Executive titles in this filing
- PATRICIA WELLS (DIRECTOR & CEO)
- JANNY CASTILLO (PRESIDENT (START 12/24))
- LYNETTE JUNG LEE (PRESIDENT (THRU 12/24))
- WILLIAM MAYES (VICE PRESIDENT (START 12/24))
People named in this filing
- PATRICIA WELLS (DIRECTOR & CEO)
- JANNY CASTILLO (PRESIDENT (START 12/24))
- LYNETTE JUNG LEE (PRESIDENT (THRU 12/24))
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The specific charitable and public purpose for which the corporation is organized is to benefit and support the housing authority of the city of oakland, a public body coporate and politic (the "housing authority") and its purposes in accordance with section 509(a)(3)(a) of the internal revenue code (the "code") by (i) providing affordable housing for low-income persons and households where no adequate housing exists for such groups, (ii) providing decent, safe and sanitary housing for and assisting low-income persons and households by enabling them to secure the basic human need of decent shelter, (iii) acting as the general partner of two limited partnerships (the limited partnerships") to develop and own affordable housing for low-income persons and households in the city of oakland ("oakland"), California.
What it reported doing in 2024
Acting as the general managing partner of two limited partnerships to develop and own affordable housing for low-income persons and households in the city of oakland, California.
Operating model
- Revenue model
- Earned-program. 86% 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 total assets are small relative to annual expenses; liquid coverage is unknown.
Rating breakdown
- Financial Efficiency: 99
- Transparency & Controls: 82
- Sustainability: 10
- Growth: 80
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 98.1%; rating input score 98
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
- Major donor itemization: Limited
Sustainability
- Operating margin: -7,593.4%; rating input score 1; 1st percentile among comparable filings
- Total-asset coverage ratio: 0.07; rating input score 9; 9th percentile among comparable filings
- Liabilities to assets ratio: 67.36; rating input score 0; 0th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings
Growth
- Program expense growth: 27.5% per year; rating input score 100; 86th percentile among comparable filings
- Revenue growth: 8% per year; rating input score 100; 78th percentile among comparable filings
- Asset growth: -35.1% per year; rating input score 0; 6th percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 98.1% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 1 filed program accomplishment · $2M in reported program spending
- Leadership: top reported pay $0 · 6 people listed
- Consistency: 8 of 8 current checks pass
- Schedules: 2 filed schedules
- Filing history: 13 filing years from 2012 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 — Sustainability: Operating margin scored 1/100.
- High — Sustainability: Total-asset coverage ratio scored 9/100.
- High — Growth: Asset growth scored 0/100.
- High — Sustainability: Liabilities to assets ratio scored 0/100.
- Review — Sustainability: Officer compensation ratio scored 56/100.