Vgmhc Holdings Inc

Nonprofit profile at a glance

EIN
934401335
IRS 990 coverage
2023–2024
Forms available
Form 990 2024
Location
Aloha, OR, USA
Phone
5033598508
Rating
45
Verdict
MIXED
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$694,082
Expenses
$59,013
Assets
$27,705,078
Liabilities
$22,558,528

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

Leadership & pay

5 people listed

Highest reported compensation

  • GIL MUNOZ (CHAIR): $330,947 total reported compensation
  • ARACELI GAYTAN (TREASURER): $278,100 total reported compensation

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

Overview

Mission

Vgmhc holdings, inc. (holdings) was formed in 2024 as a public benefit corporation to exclusively benefit the center. Holdings was established as part of a new markets tax credit (nmtc) transaction for the center's newbergwellness center project. The nmtc program is a federal subsidy program for economic development of depressed areas. The nmtc program is designed to stimulate the flow of investment capital into underserved areas by providing tax credit investment in a "low income community," which is claimed over a seven year credit compliance period. On february 8, 2024, the center closed a nmtc transaction of approximately $25.2 million to develop its newberg wellness center.

What it reported doing in 2024

During fye 2024, holdings was established as part of a new markets tax credit (nmtc) transaction for Virginia garica memorial health center's newberg wellness center project. During fye 2025, the newberg wellness center project was completed and the new center was opened.

Operating model

Revenue model
Affiliate-supported. 100% of the money available for current operations came from contributions from related organizations.
Distribution model
No current program activity. The filing reports no program spending for the current year.
  • Includes noncash contributions: Reported contributions include donated property or goods.

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: 74
  • Accountability: 95
  • Sustainability: 77
  • Growth: 0

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: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • 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: 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: 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: NotApplicable
    • 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: 91.5%; rating input score 99; 99th percentile among comparable filings
  • Total-asset coverage ratio: 469.47; rating input score 100; 100th percentile among comparable filings
  • Liabilities to assets ratio: 0.81; rating input score 9; 9th percentile among comparable filings
  • Officer compensation ratio: 110.3%; rating input score 0; 0th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -146.7% per year; rating input score 0; 0th percentile among comparable filings
  • Asset growth: -1.8% per year; rating input score 0; 12th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 5 of 5 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $331K · 5 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 3 contractors listed · $12.3M reported
  • Consistency: 14 of 14 current checks pass
  • Schedules: 7 filed schedules · includes major donors and executive pay
  • Filing history: 2 filing years from 2023 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 2 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 — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Sustainability: Officer compensation ratio scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 9/100.