2700 Diamond Development Corporation

Nonprofit profile at a glance

EIN
233041374
IRS 990 coverage
2011–2021
Forms available
Form 990 2021
Location
Philadelphia, PA, USA
Phone
2152327229
Rating confidence
Limited
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$0
Expenses
$164,208
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2021. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • S MARY SCULLION (PRESIDENT)

Highest reported compensation

  • JOAN DAWSON MCCONNON (TREASURER): $360,646 total reported compensation
  • S MARY SCULLION (PRESIDENT): $174,001 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2021. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The purpose of the organization is to acquire and rehabilitate real property in philadelphia, pa and operate an 8 unit residence under section 221 of the national housing act.

Operating model

Revenue model
No positive adjusted resources. The filing reports no positive adjusted operating resources.
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

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: 75
  • Transparency & Controls: 56
  • Accountability: 53
  • Sustainability: 1
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: 99.9%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 25th 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: 60%; rating input score 60; 21st percentile among comparable filings
  • Governance controls: 4 of 9 controls in place; rating input score 44
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: Limited
  • Total-asset coverage ratio: 0; rating input score 3; 3rd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 85.1%; rating input score 4; 4th percentile among comparable filings

Growth

  • Program expense growth: -0.3% per year; rating input score 0; 58th percentile among comparable filings
  • Revenue growth: 13.4% per year; rating input score 100; 88th percentile among comparable filings
  • Asset growth: -12.3% per year; rating input score 0; 12th percentile among comparable filings

Details

  • Where the money goes: 99.9% of spending went to programs
  • Governance: 3 of 5 board members independent · 4 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $164K in reported program spending
  • Leadership: top reported pay $361K · 6 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 12 of 12 current checks pass
  • Schedules: 7 filed schedules · includes executive pay
  • Filing history: 11 filing years from 2011 to 2021
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Accountability: Governance controls: 4 of 8 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 3/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 4/100.
  • High — Growth: Asset growth scored 0/100.