Venture Cares Option 1 Inc

Nonprofit profile at a glance

EIN
770673263
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-N 2008
Location
Nanuet, NY, USA
Phone
8456243860
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Low-Income & Subsidized Rental Housing

Reported finances

Revenue
$82,181
Expenses
$124,437
Assets
$934,302
Liabilities
$85,992

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

Leadership & pay

6 people listed

Executive titles in this filing

  • MATTHEW SHELLEY (CHIEF EXECUTIVE OFFICER)

Highest reported compensation

  • MATTHEW SHELLEY (CHIEF EXECUTIVE OFFICER): $299,521 total reported compensation
  • CELIA SOLOMITA (CHIEF FINANCIAL OFFICER): $215,538 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 provide housing to disabled individuals.

What it reported doing in 2024

Housing program - agency provides housing to intellectually and developmentally disabled individuals, 11 individuals served.

Operating model

Revenue model
Other-operating. 100% of the money available for current operations came from other operating 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 the filed numbers largely add up. Revenue has declined or grown slowly and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 81
  • Transparency & Controls: 78
  • Accountability: 91
  • Sustainability: 34
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 77.4%; rating input score 77
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 26th percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • 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; 64th 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: -51.4%; rating input score 29; 29th percentile among comparable filings
  • Total-asset coverage ratio: 7.51; rating input score 57; 57th percentile among comparable filings
  • Liabilities to assets ratio: 0.09; rating input score 19; 19th percentile among comparable filings
  • Officer compensation ratio: 35.8%; rating input score 9; 9th percentile among comparable filings

Growth

  • Program expense growth: 0.1% per year; rating input score 100; 51st percentile among comparable filings
  • Revenue growth: -0.7% per year; rating input score 0; 57th percentile among comparable filings
  • Asset growth: -2.3% per year; rating input score 0; 29th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 77.4% of spending went to programs
  • Governance: 4 of 4 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $96K in reported program spending
  • Leadership: top reported pay $300K · 6 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 24 of 24 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 5 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 — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Operating margin scored 29/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Total-asset coverage ratio scored 57/100.
  • High — Sustainability: Officer compensation ratio scored 9/100.
  • High — Sustainability: Liabilities to assets ratio scored 19/100.