Cape Fear Regional Community Development Corporation

Nonprofit profile at a glance

EIN
581871390
IRS 990 coverage
2016–2024
Forms available
Form 990 2024
Location
Wilmington, NC, USA
Phone
9107627555
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Support

Official website

Reported finances

Revenue
$46,395
Expenses
$73,696
Assets
$1,900,980
Liabilities
$2,072,356

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

Leadership & pay

4 people listed

Executive titles in this filing

  • INEZ EASON (PRESIDENT)
  • PAULA HUMPHREY (VICE PRESIDENT)
  • STANLEY TURNER (EXECUTIVE DIRECTOR)

Highest reported compensation

  • STANLEY TURNER (EXECUTIVE DIRECTOR): $65,096 total reported compensation

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

Overview

Mission

The cape fear regional community development corporation is a non-profit 501(c)(3) community-based organization whose mission is providing information, education, and counseling related to homeownership and entrepreneurship to low and moderate income residents of the greater cape fear region and facilitating and administering communicty and economic development programs in cooperation with other community organizations of local units of government.

What it reported doing in 2024

Neighborhood stabilization program (nsp) acquisition, rehabilitation and resale / rental of foreclosed properties to benefit lower and moderate income families, funded by nc community development institute. Four (4) single-family homes are maintained as affordable rental housing for moderate income families.

Operating model

Revenue model
Earned-program. 100% 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

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of total spending goes to programs and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 68
  • Transparency & Controls: 90
  • Accountability: 84
  • Sustainability: 38
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 89.2%; rating input score 89
  • Program expense ratio: 56.2%; rating input score 56
  • 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: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -58.8%; rating input score 27; 27th percentile among comparable filings
  • Total-asset coverage ratio: 25.79; rating input score 84; 84th percentile among comparable filings
  • Liabilities to assets ratio: 1.09; rating input score 5; 5th percentile among comparable filings
  • Officer compensation ratio: 88.3%; rating input score 4; 4th percentile among comparable filings

Growth

  • Program expense growth: -20% per year; rating input score 0; 17th percentile among comparable filings
  • Revenue growth: -19.1% per year; rating input score 0; 20th percentile among comparable filings
  • Asset growth: -1% per year; rating input score 0; 35th percentile among comparable filings

Details

  • Where the money goes: 89.2% of revenue deployed · 56.2% of spending went to programs
  • Governance: 3 of 3 board members independent · 5 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $41K in reported program spending
  • Leadership: top reported pay $65K · 4 people listed
  • Consistency: 21 of 21 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 2 filing years from 2016 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • Review — Financial Efficiency: Program expense ratio scored 56/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 27/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 5/100.
  • High — Sustainability: Officer compensation ratio scored 4/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.