Brand New Day Inc

Nonprofit profile at a glance

EIN
222600977
IRS 990 coverage
2010–2012
Forms available
Form 990 2012
Location
Elizabeth, NJ, USA
Phone
9082820781
Rating confidence
Limited
Sector
Low-Income & Subsidized Rental Housing

Official website

Reported finances

Revenue
$2,645,176
Expenses
$2,506,473
Assets
$13,308,614
Liabilities
$12,935,751

Source: IRS Form 990. Selected filing: tax year 2012. Amounts in USD.

Leadership & pay

17 people listed

Source: IRS Form 990. Selected filing: tax year 2012. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The brand new day inc.'s mission is to revitalize and enhance the quality of life in elizabethport and surrounding communities for low and moderate income families. Through the development, management and preservation of affordable housing, expanding wealth creation opportunities through home ownership and neighborhood-based economic development and advocate for social stability.

What it reported doing in 2012

Community education and organization: the community education and organizaton division reaches into the community to provide adult financial literacy education, homebuyer education, post purchase education, foreclosure prevention and intervention, homeownership counseling, education and leadership development and community involvement.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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: 86
  • Accountability: 84
  • Sustainability: 61
  • Growth: 60

Detailed rating inputs

Financial Efficiency

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

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 8th 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; 65th percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 5.2%; rating input score 61; 61st percentile among comparable filings
  • Total-asset coverage ratio: 5.31; rating input score 85; 85th percentile among comparable filings
  • Liabilities to assets ratio: 0.97; rating input score 8; 8th percentile among comparable filings
  • Officer compensation ratio: 4.3%; rating input score 52; 52nd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 6.3% per year; rating input score 100; 62nd percentile among comparable filings
  • Asset growth: 8.5% per year; rating input score 100; 69th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 15 of 15 board members independent · 5 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $2M in reported program spending
  • Leadership: top reported pay $97K · 17 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 3 filing years from 2010 to 2012
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.

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.

  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 8/100.
  • Review — Sustainability: Officer compensation ratio scored 52/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.