Villas Marena AC

Nonprofit profile at a glance

EIN
993283867
IRS 990 coverage
2024–2024
Forms available
Form 990 2024
Location
San Diego, CA, USA
Rating
82
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$1,592,486
Expenses
$1,592,261
Assets
$430,488
Liabilities
$278,143

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

Leadership & pay

8 people listed

Executive titles in this filing

  • Jeffery Sears (President)

People named in this filing

  • David Van Ness (Commitee Leader)
  • Bill Gradu (Commitee Leader)
  • Jeffery Sears (President)

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 promote the social welfare of its members by managing, maintaining, and preserving common areas and facilities of a residential condominium development, ensuring safety, accessibility, and proper administration for the benefit of homeowners.

What it reported doing in 2024

Promoted the social welfare of its members by managing, maintaining, and preserving common areas and facilities of a residential condominium development, ensuring safety, accessibility, and proper administration for the benefit of homeowners

Operating model

Revenue model
Membership-supported. 64% of the money available for current operations came from membership dues.
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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 90
  • Transparency & Controls: 90
  • Accountability: 88
  • Sustainability: 32
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 88.6%; rating input score 89
  • Program expense ratio: 88.6%; rating input score 89
  • Fundraising efficiency: $748.92 raised per $1 spent on fundraising; rating input score 97; 97th percentile among comparable filings

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: Limited
  • 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: Pass
    • 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: Fail

Sustainability

  • Operating margin: 0%; rating input score 36; 36th percentile among comparable filings
  • Total-asset coverage ratio: 0.27; rating input score 13; 13th percentile among comparable filings
  • Liabilities to assets ratio: 0.65; rating input score 12; 12th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 88.6% of revenue deployed · 88.6% of spending went to programs
  • Governance: 6 of 6 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $1.4M in reported program spending
  • Leadership: top reported pay $0 · 8 people listed
  • Consistency: 22 of 22 current checks pass
  • Schedules: 2 filed schedules
  • Contacts: How to reach this organization
  • 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.

  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • Moderate — Sustainability: Operating margin scored 36/100.
  • High — Sustainability: Total-asset coverage ratio scored 13/100.
  • High — Sustainability: Liabilities to assets ratio scored 12/100.