Brown Foundation Community Dev Corp

Nonprofit profile at a glance

EIN
843204688
IRS 990 coverage
2021–2023
Forms available
Form 990 2023, Form 990-EZ 2022
Location
Memphis, TN, USA
Phone
5014244030
Rating
46
Verdict
MIXED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$249,316
Expenses
$65,328
Assets
$297,173
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

12 people listed

Executive titles in this filing

  • GENE ADAMS (CEO)

People named in this filing

  • OSSIE GLASPER (Director)
  • LESLEY GLASPER (Director)
  • DEE BROWN II (Director)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide affordable housing to low-income individuals

What it reported doing in 2023

Providing affordable housing to low-income individuals

Operating model

Revenue model
Other-operating. 86% of the money available for current operations came from other operating 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 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: 22
  • Transparency & Controls: 90
  • Accountability: 6
  • Sustainability: 86
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 12.1%; rating input score 12
  • Program expense ratio: 46.2%; rating input score 46
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 7th percentile among comparable filings
  • Governance controls: 1 of 7 controls in place; rating input score 14
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 73.8%; rating input score 97; 97th percentile among comparable filings
  • Total-asset coverage ratio: 4.55; rating input score 78; 78th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 81; 81st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 1.9% per year; rating input score 100; 41st percentile among comparable filings
  • Revenue growth: 50.5% per year; rating input score 100; 97th percentile among comparable filings
  • Asset growth: 28.4% per year; rating input score 100; 90th percentile among comparable filings

Details

  • Where the money goes: 12.1% of revenue deployed · 46.2% of spending went to programs
  • Governance: 0 of 12 board members independent · 1 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $30K in reported program spending
  • Leadership: top reported pay $0 · 12 people listed
  • Consistency: 16 of 16 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 3 filing years from 2021 to 2023
  • Contacts: How to reach this organization
  • Related organizations: 2 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.

  • High — Financial Efficiency: Mission deployment rate scored 12/100.
  • High — Accountability: Independent voting board scored 0/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 46/100.
  • High — Accountability: Governance controls: 5 of 6 not reported.