Avondale Development Corporation

Nonprofit profile at a glance

EIN
452412695
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Cincinnati, OH, USA
Rating
60
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Urban, Community Economic Development

Official website

Reported finances

Revenue
$869,429
Expenses
$845,836
Assets
$775,322
Liabilities
$496,216

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

Leadership & pay

16 people listed

Executive titles in this filing

  • RUSSELL HAIRSTON (Executive Director)
  • VINCE TERRY (Vice President)

Highest reported compensation

  • RUSSELL HAIRSTON (Executive Director): $110,062 total reported compensation
  • AISHA TXILLAH (Director of Real Estat): $82,567 total reported compensation
  • PATRICK CARTIER (Diector of Operations): $57,427 total reported compensation

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

Overview

Mission

See Schedule O

What it reported doing in 2024

Community Engagement to develop effective methods of outreach and communication with Avondale residens in a way that invites them to be part of redevelopment initiatives by using various forms of messaging to connect and engage with owners, renters, and busineses through community engagement forums, print and electromic media forms of communication.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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

SUPPORTED - The filed numbers largely add up and program spending has grown recently. 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: 48
  • Transparency & Controls: 93
  • Accountability: 32
  • Sustainability: 35
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 53%; rating input score 53
  • Program expense ratio: 54.5%; rating input score 55
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 12th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 5th 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: 2.7%; rating input score 44; 44th percentile among comparable filings
  • Total-asset coverage ratio: 0.92; rating input score 40; 40th percentile among comparable filings
  • Liabilities to assets ratio: 0.64; rating input score 12; 12th percentile among comparable filings
  • Officer compensation ratio: 29.6%; rating input score 7; 7th percentile among comparable filings

Growth

  • Program expense growth: 9.5% per year; rating input score 100; 61st percentile among comparable filings
  • Revenue growth: 8.4% per year; rating input score 100; 60th percentile among comparable filings
  • Asset growth: 18.1% per year; rating input score 100; 78th percentile among comparable filings

Details

  • Where the money goes: 53% of revenue deployed · 54.5% of spending went to programs
  • Governance: 0 of 13 board members independent · 7 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $461K in reported program spending
  • Leadership: top reported pay $110K · 16 people listed
  • Consistency: 27 of 28 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 11 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • 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 53/100.
  • High — Accountability: Independent voting board scored 0/100.
  • Review — Financial Efficiency: Program expense ratio scored 55/100.
  • Moderate — Sustainability: Operating margin scored 44/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 40/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 7/100.
  • High — Sustainability: Liabilities to assets ratio scored 12/100.