640 Improvement Corporation C/o John M Mullins

Nonprofit profile at a glance

EIN
841428857
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Highlands Ranch, CO, USA
Phone
3036839382
Rating
51
Verdict
MIXED
Rating confidence
Moderate
Sector
Community, Neighborhood Development

Reported finances

Revenue
$1,045,000
Expenses
$851,709
Assets
$2,132,229
Liabilities
$0

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

Leadership & pay

2 people listed

Executive titles in this filing

  • JOHN M MULLINS (PRESIDENT)

Highest reported compensation

  • JOHN M MULLINS (PRESIDENT): $634,000 total reported compensation
  • BILL JENKINS (DIRECTOR): $233,500 total reported compensation

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

Overview

Mission

Organization entered into an agreement with city of lakewood, co to construct & maintain public improvements dedicated to the city utilizing a portion of sales tax revenue.

What it reported doing in 2024

The organization provided operating support for elk valley public improvement corporation, a related 501(c)(3) organization, which is providing public improvements maintenance in the area served by the organization.

Operating model

Revenue model
Earned-program. 100% 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 - 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: 20
  • Transparency & Controls: 71
  • Accountability: 77
  • Sustainability: 67
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 21.1%; rating input score 21
  • Program expense ratio: 25.9%; rating input score 26
  • 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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 4 of 9 controls in place; rating input score 44
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 18.5%; rating input score 74; 74th percentile among comparable filings
  • Total-asset coverage ratio: 2.5; rating input score 71; 71st percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: 74.4%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: -10.1% per year; rating input score 0; 4th percentile among comparable filings
  • Revenue growth: 1.2% per year; rating input score 100; 20th percentile among comparable filings
  • Asset growth: 26.4% per year; rating input score 100; 88th percentile among comparable filings

Details

  • Where the money goes: 21.1% of revenue deployed · 25.9% of spending went to programs
  • Governance: 2 of 2 board members independent · 4 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $221K in reported program spending
  • Leadership: top reported pay $634K · 2 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $211K reported
  • Consistency: 14 of 14 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Financial Efficiency: Mission deployment rate scored 21/100.
  • High — Financial Efficiency: Program expense ratio scored 26/100.
  • Moderate — Accountability: Governance controls: 4 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 1/100.