Binghampton Development Corporation

Nonprofit profile at a glance

EIN
200062075
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Memphis, TN, USA
Phone
9013470504
Rating
92
Verdict
STRONG
Rating confidence
Standard
Sector
Urban, Community Economic Development

Reported finances

Revenue
$1,635,057
Expenses
$2,219,947
Assets
$14,663,877
Liabilities
$5,867,833

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

Leadership & pay

10 people listed

Executive titles in this filing

  • Robert Montague (President)
  • DAndrea Franklin (Executive Director)

Highest reported compensation

  • DAndrea Franklin (Executive Director): $118,410 total reported compensation

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

Overview

Mission

Build a healthy community by supporting the revitalization of the Binghampton neighborhood of Memphis, Tennessee, through housing and economic development.

What it reported doing in 2024

To improve the quality of life in the Binghampton community.

Operating model

Revenue model
Earned-program. 70% 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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 92
  • Transparency & Controls: 94
  • Accountability: 100
  • Sustainability: 37
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 91.4%; rating input score 91
  • Fundraising efficiency: $19.74 raised per $1 spent on fundraising; rating input score 58; 58th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 22nd 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -35.8%; rating input score 5; 5th percentile among comparable filings
  • Total-asset coverage ratio: 6.61; rating input score 88; 88th percentile among comparable filings
  • Liabilities to assets ratio: 0.4; rating input score 19; 19th percentile among comparable filings
  • Officer compensation ratio: 5.3%; rating input score 52; 52nd percentile among comparable filings

Growth

  • Program expense growth: 5.1% per year; rating input score 100; 43rd percentile among comparable filings
  • Revenue growth: 1.1% per year; rating input score 100; 19th percentile among comparable filings
  • Asset growth: 8.8% per year; rating input score 100; 54th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 91.4% of spending went to programs
  • Governance: 9 of 9 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $2M in reported program spending
  • Leadership: top reported pay $118K · 10 people listed
  • Consistency: 30 of 30 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 13 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 3 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Sustainability: Operating margin scored 5/100.
  • Review — Financial Efficiency: Fundraising efficiency scored 58/100.
  • High — Sustainability: Liabilities to assets ratio scored 19/100.
  • Review — Sustainability: Officer compensation ratio scored 52/100.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.