AmeriDream Inc

Nonprofit profile at a glance

EIN
522145694
IRS 990 coverage
2011–2011
Forms available
Form 990 2011
Location
Bethesda, MD, USA
Phone
3015719469
Rating confidence
Limited
Sector
Housing Expense Reduction Support

Official website

Reported finances

Revenue
$957,368
Expenses
$1,870,218
Assets
$8,848,046
Liabilities
$5,316,132

Source: IRS Form 990. Selected filing: tax year 2011. Amounts in USD.

Leadership & pay

5 people listed

Source: IRS Form 990. Selected filing: tax year 2011. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

AmeriDream, Inc. is committed to building strong communities and individual prosperity by expanding housing opportunities for underserved groups through its downpayment assistance, community development, educational and other charitable services. Specifically, AmeriDream's charitable purposes include: 1. Relieving the poor and distressed or the underprivileged by providing the means for families to acquire affordable housing through the downpayment assistance program; 2. Lessening neighborhood tensions, eliminating prejudice and discrimination and combating community deterioration by expanding the supply of decent housing for low and moderate income households; 3. Serving social welfare through education programs to home buyers to make informed financial decisions before and after settlement; and 4. Lessening the burden of federal, state and local governments by increasing the availability of affordable housing through downpayment assistance and redevelopment activities.

What it reported doing in 2011

The redevelopment program worked with local governments and community agencies in distressed areas to combat community deterioration and lessen neighborhood tensions by rehabilitating abandoned and blighted housing units and building newly constructed affordable housing units. We also provided $154,500 in homeownership subsidies to low and moderate income first time homebuyers.

Operating model

Revenue model
Other-operating. 85% of the money available for current operations came from other operating revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

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: NotEnoughData
  • Transparency & Controls: 95
  • Accountability: 62
  • Sustainability: 35
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 60th percentile among comparable filings
  • Pay-setting controls: 6 of 6 controls in place; rating input score 100
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 73rd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Scored; rating input score 0

Accountability

  • Independent voting board: 50%; rating input score 50; 10th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: -95.3%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 4.73; rating input score 83; 83rd percentile among comparable filings
  • Liabilities to assets ratio: 0.6; rating input score 20; 20th percentile among comparable filings
  • Officer compensation ratio: 3.7%; rating input score 63; 63rd percentile among comparable filings

Growth

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

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 1 of 2 board members independent · 7 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $1.7M in reported program spending
  • Leadership: top reported pay $302K · 5 people listed · 6 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed
  • Consistency: 39 of 39 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, executive pay, and related organizations
  • Money network: 1 filed money-flow record
  • Related organizations: 4 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 — Accountability: Independent voting board scored 50/100.
  • High — Sustainability: Operating margin scored 1/100.
  • High — Transparency & Controls: Related-party transparency scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Liabilities to assets ratio scored 20/100.