Central Carolina Strategic Developers

Nonprofit profile at a glance

EIN
821730962
IRS 990 coverage
2021–2024
Forms available
Form 990 2024, Form 990-EZ 2020
Location
Sanford, NC, USA
Phone
9197767655
Rating confidence
Limited

Reported finances

Revenue
$0
Expenses
$207,012
Assets
$691,765
Liabilities
$2,345

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

Leadership & pay

9 people listed

Executive titles in this filing

  • Marcus Goodson (Former Interim CEO)
  • Dr Michael Threatt (CEO)

Highest reported compensation

  • Marcus Goodson (Former Interim CEO): $80,000 total reported compensation
  • Dr Michael Threatt (CEO): $5,000 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 corporation is organized and shall be operated exclusively for charitable purposes which are exempt from Federal Income Tax under Section 501(c)(3) of the Internal Revenue Code of 1986 (or the corresponding provisions of any future United States Internal Revenue Laws). The corporation is also a charitable corporation as defined in NCGS SSA-1-40(4). Specifically, the corporation is established as asupporting organization whose exclusive purpose is to support and carry out the purpose of the Sanford Housing Authority in providing affordable housing to low-income persons.

What it reported doing in 2024

Since its incorporation in 2017, CCSD is now the co-manager for Matthews Garden Gilmore, LLC, and responsible for the rehabilitation, day to day operations and management of 176 affordable housing units. The actual day to day operations and management of the units is provided by the Sanford Housing Authority. In addition to providing affordable housing, CCSD strives to promote services to enable and equip its residents with the tools needed for economic self-sufficiency.

Operating model

Revenue model
No positive adjusted resources. The filing reports no positive adjusted operating resources.
Distribution model
Grant intermediary. The nonprofit sent 99% of its reported program spending out as grants.

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: 75
  • Transparency & Controls: 68
  • Accountability: 80
  • Sustainability: 16
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 75%; rating input score 75; 24th percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: Limited
  • Total-asset coverage ratio: 3.34; rating input score 42; 42nd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 32; 32nd percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: 42.6% per year; rating input score 100; 93rd percentile among comparable filings
  • Revenue growth: -38.4% per year; rating input score 0; 11th percentile among comparable filings
  • Asset growth: 19.3% per year; rating input score 100; 90th percentile among comparable filings

Details

  • Where the money goes: 100% of spending went to programs
  • Governance: 6 of 8 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $207K in reported program spending
  • Leadership: top reported pay $80K · 9 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 15 of 15 current checks pass
  • Schedules: 6 filed schedules · includes grants and executive pay
  • Filing history: 4 filing years from 2021 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 42/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • Moderate — Sustainability: Liabilities to assets ratio scored 32/100.