Vwe Properties Corp

Nonprofit profile at a glance

EIN
113485165
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Jamaica, NY, USA
Phone
7182068081
Rating
54
Verdict
MIXED
Rating confidence
Moderate
Sector
Health - General and Rehabilitative N.E.C.

Reported finances

Revenue
$3,075,494
Expenses
$1,696,575
Assets
$1,699,985
Liabilities
$7,539,639

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

Leadership & pay

2 people listed

Executive titles in this filing

  • BRUCE FLANZ (PRESIDENT & CEO)

Highest reported compensation

  • BRUCE FLANZ (PRESIDENT & CEO): $3,198,225 total reported compensation
  • MOUNIR F DOSS (EXECUTIVE VP & CFO): $2,009,903 total reported compensation

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

Overview

Mission

Provide parking facilities for the benefit of jamaica hospital and the jamaica hospital nursing home.

What it reported doing in 2024

Operation of various parking facilities for the benefit of jamaica hospital and the jamaica hospital nursing home.

Operating model

Revenue model
Earned-program. 99% of the money available for current operations came from fees and other program 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

MIXED - A large share of total spending goes to programs and the filed numbers largely add up. A relatively small share of available resources goes toward mission work and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 60
  • Transparency & Controls: 60
  • Accountability: 23
  • Sustainability: 58
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 51.7%; rating input score 52
  • Program expense ratio: 94.2%; rating input score 94
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 3rd percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 56
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 44.8%; rating input score 91; 91st percentile among comparable filings
  • Total-asset coverage ratio: 1; rating input score 37; 37th percentile among comparable filings
  • Liabilities to assets ratio: 4.44; rating input score 0; 0th percentile among comparable filings
  • Officer compensation ratio: 8.3%; rating input score 36; 36th percentile among comparable filings

Growth

  • Program expense growth: 5.9% per year; rating input score 100; 45th percentile among comparable filings
  • Revenue growth: 5.1% per year; rating input score 100; 42nd percentile among comparable filings
  • Asset growth: -7.7% per year; rating input score 0; 2nd percentile among comparable filings

Details

  • Where the money goes: 51.7% of revenue deployed · 94.2% of spending went to programs
  • Governance: 0 of 2 board members independent · 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1.6M in reported program spending
  • Leadership: top reported pay $3.2M · 2 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 23 of 23 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: 20 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.

  • Review — Financial Efficiency: Mission deployment rate scored 52/100.
  • High — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 37/100.
  • High — Sustainability: Liabilities to assets ratio scored 0/100.
  • Moderate — Sustainability: Officer compensation ratio scored 36/100.