Ulgm Real Estate Holdings Inc

Nonprofit profile at a glance

EIN
874082659
IRS 990 coverage
2022–2024
Forms available
Form 990 2024
Location
Madison, WI, USA
Phone
6087291200
Rating
41
Verdict
MIXED
Rating confidence
Moderate
Sector
Support N.E.C.

Reported finances

Revenue
$2,254,270
Expenses
$484,515
Assets
$28,684,673
Liabilities
$21,974,845

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

Leadership & pay

5 people listed

Executive titles in this filing

  • RUBEN L ANTHONY JR (PRESIDENT)
  • GLORIA LADSON-BILLINGS (VICE PRESIDENT)

Highest reported compensation

  • RUBEN L ANTHONY JR (PRESIDENT): $263,184 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 hold title to property (black business hub), collect income therefrom, and turn the entire amount, less expenses, to the urban league of greater madison, inc.

What it reported doing in 2024

Ulgm real estate holdings, inc (ulgmreh). Owns the new urban league black business hub (the hub), and master leases the building back to urban league of greater madison, inc (ulgm). The hub is an 80,000 square foot building located on prominently at one of the gateway's into downtown madison and the university of Wisconsin's flagship campus, but also conversely in a "severely distressed" census tract that has experienced decades of under-investment. The hub is both a physical building and an ecosystem of supports for small businesses and emerging entrepreneurs. Construction began in april of 2022. The building has an unprecedented mix of spaces including office suites for mission aligned business development agencies and coworking spaces, education and event spaces, commercial cooking spaces, pop-up market spaces, and retail spaces available at discounted rents for small businesses and emerging entrepreneurs. Spaces in the building were continue to be built out to tenant specifications through 2024, with approximately 10,000 square feet of space remaining to be built and/or leased as of december 31, 2024. The building also includes spaces used for a wide variety of small business development programing including group education classes, coaching and mentoring services, community engagement activities, programs to help emerging businesses access capital, and much more. As of the end of 2024, nearly 200 businesses had participated in ulgm programs, more than 600 classes, meetings, and events were held in the building, more than $500,000 in discounted rent was provided, and the ulgm provides over $1,100,000 of loans and grants to support these businesses.

Operating model

Revenue model
Donor-supported. 71% of the money available for current operations came from contributions and gifts.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

MIXED - 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: 65
  • Accountability: 83
  • Sustainability: 85
  • 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; 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: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 80%; rating input score 80; 14th percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 78.5%; rating input score 97; 97th percentile among comparable filings
  • Total-asset coverage ratio: 59.2; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0.77; rating input score 11; 11th percentile among comparable filings
  • Officer compensation ratio: 2.4%; rating input score 73; 73rd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -1.8% per year; rating input score 0; 7th percentile among comparable filings
  • Asset growth: 2.4% per year; rating input score 100; 21st percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 4 of 5 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $263K · 5 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 14 of 14 current checks pass
  • Schedules: 5 filed schedules · includes major donors and executive pay
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: 3 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: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: CEO compensation review process not reported.
  • High — Sustainability: Liabilities to assets ratio scored 11/100.