Village Oduduwa Corp of Marin City

Nonprofit profile at a glance

EIN
680031899
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Marin City, CA, USA
Phone
4153322100
Rating
69
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Low-Income & Subsidized Rental Housing

Reported finances

Revenue
$593,676
Expenses
$602,200
Assets
$832,978
Liabilities
$731,986

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

Leadership & pay

8 people listed

Executive titles in this filing

  • REV EMMANUEL O AKOGNON (President)
  • SHOLA AKOGNON (Vice President)

Highest reported compensation

  • REV EMMANUEL O AKOGNON (President): $81,400 total reported compensation
  • SHOLA AKOGNON (Vice President): $8,000 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 incorporated for the purpose of developing and operating a 25-unit apartment complex that provides housing for elderly and handicapped persons of low and moderate income.

What it reported doing in 2024

The corporation operates a low and moderate income housing for elderly and handicapped persons, consisting of 25 units subsidized by chfa.

Operating model

Revenue model
Grant-funded. 81% of the money available for current operations came from government grants.
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. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 85
  • Transparency & Controls: 92
  • Accountability: 5
  • Sustainability: 34
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 95.7%; rating input score 96
  • Program expense ratio: 94.3%; rating input score 94
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 0%; rating input score 0; 5th percentile among comparable filings
  • Governance controls: 1 of 8 controls in place; rating input score 12
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -1.4%; rating input score 31; 31st percentile among comparable filings
  • Total-asset coverage ratio: 1.38; rating input score 53; 53rd percentile among comparable filings
  • Liabilities to assets ratio: 0.88; rating input score 7; 7th percentile among comparable filings
  • Officer compensation ratio: 14.8%; rating input score 23; 23rd percentile among comparable filings

Growth

  • Program expense growth: 4.3% per year; rating input score 100; 38th percentile among comparable filings
  • Revenue growth: 6.7% per year; rating input score 100; 53rd percentile among comparable filings
  • Asset growth: 0.2% per year; rating input score 100; 18th percentile among comparable filings

Details

  • Where the money goes: 95.7% of revenue deployed · 94.3% of spending went to programs
  • Governance: 0 of 6 board members independent · 1 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $568K in reported program spending
  • Leadership: top reported pay $81K · 8 people listed
  • Highest-paid contractors: 1 contractor listed
  • Consistency: 27 of 27 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 12 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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 — Accountability: Independent voting board scored 0/100.
  • High — Accountability: Governance controls: 6 of 7 not reported.
  • Moderate — Sustainability: Operating margin scored 31/100.
  • Review — Sustainability: Total-asset coverage ratio scored 53/100.
  • High — Sustainability: Liabilities to assets ratio scored 7/100.
  • High — Sustainability: Officer compensation ratio scored 23/100.