Verdugo Tower Inc

Nonprofit profile at a glance

EIN
954401836
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Pasadena, CA, USA
Phone
3232583512
Rating
67
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Low-Income & Subsidized Rental Housing

Reported finances

Revenue
$2,684,889
Expenses
$1,326,590
Assets
$6,350,937
Liabilities
$88,169

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

Leadership & pay

11 people listed

Executive titles in this filing

  • ELVAN MOEN (PRESIDENT)

People named in this filing

  • ELVAN MOEN (PRESIDENT)
  • JANE CASEY (TREASURER)
  • LISA FIKE (SECRETARY)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

To provide low income housing to elderly and handicapped persons.

What it reported doing in 2024

The organization is a non-profit apartment complex renting to low income, handicapped or elderly persons. The operations are regulated and controlled by u.s. Dept. Of hud. A coin operated laundry facility is provided.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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 - 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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 44
  • Transparency & Controls: 86
  • Accountability: 88
  • Sustainability: 88
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 35.7%; rating input score 36
  • Program expense ratio: 71.3%; rating input score 71
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 13th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • 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: 50.6%; rating input score 92; 92nd percentile among comparable filings
  • Total-asset coverage ratio: 4.79; rating input score 83; 83rd percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 83; 83rd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: -0.4% per year; rating input score 0; 12th percentile among comparable filings
  • Revenue growth: 7.1% per year; rating input score 100; 55th percentile among comparable filings
  • Asset growth: -2.8% per year; rating input score 0; 6th percentile among comparable filings

Details

  • Where the money goes: 35.7% of revenue deployed · 71.3% of spending went to programs
  • Governance: 11 of 11 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $946K in reported program spending
  • Leadership: top reported pay $0 · 11 people listed
  • Highest-paid contractors: 1 contractor listed · $106K reported
  • Consistency: 26 of 27 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 4 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 36/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.