The Rancho Meridian Mobilehome Park Corp

Nonprofit profile at a glance

EIN
330719907
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Santa Ana, CA, USA
Phone
7147444993
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$1,282,227
Expenses
$1,811,801
Assets
$3,371,328
Liabilities
$7,056,083

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

Leadership & pay

12 people listed

Executive titles in this filing

  • DENNIS KAZARIAN (President)
  • RICHARD SIMONIAN (Vice President)

Highest reported compensation

  • GARY BRENDZEL (Secretary/COO): $84,000 total reported compensation
  • JOHN YEANDLE (Director): $79,500 total reported compensation
  • DENNIS KAZARIAN (President): $68,200 total reported compensation

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

Overview

Mission

The corporation was created to lessen the governmental burdens by providing assistance to the former redevelopment agency of the city of san bernardino in its redevelopment efforts to promote economic development within the city of san bernardino, including, but not limited to, assuming the ownership and operation of rancho meridian mobile home corporation in irder to increase the availability of low and moderate income housing within the city.

What it reported doing in 2024

Rancho meridian mobile home park (rancho meridian) is located at 2686 west mill street in the city of san bernardino, California. Rancho meridian consists of 143 mobile home spaces. Rancho meridian, which is primarily a family park, consists of doublewide spaces; however, there are some triple wide spaces. Most of the homes have awnings and concrete or asphalt driveways, as well as covered carports. Rancho meridian has a total area of approximately 18.63 acres. Rancho meridian and rancho meridian-owned buildings were constructed in 1973. The overall range for rents is $494 to $931 per month with an average monthly rental of $652 per month.

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

SUPPORTED - A large share of available resources goes toward mission work and most voting board members are independent. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 60
  • Accountability: 90
  • Sustainability: 20
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 96.3%; rating input score 96
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: Limited

Accountability

  • Independent voting board: 81.8%; rating input score 82; 18th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: -41.3%; rating input score 4; 4th percentile among comparable filings
  • Total-asset coverage ratio: 1.86; rating input score 62; 62nd percentile among comparable filings
  • Liabilities to assets ratio: 2.09; rating input score 2; 2nd percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: 8.8% per year; rating input score 100; 59th percentile among comparable filings
  • Revenue growth: 4% per year; rating input score 100; 37th percentile among comparable filings
  • Asset growth: 0.2% per year; rating input score 100; 18th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 96.3% of spending went to programs
  • Governance: 9 of 11 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1.7M in reported program spending
  • Leadership: top reported pay $84K · 12 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 24 of 24 current checks pass
  • Schedules: 6 filed schedules · includes executive pay
  • Filing history: 12 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Sustainability: Operating margin scored 4/100.
  • High — Sustainability: Liabilities to assets ratio scored 2/100.