Charleston Area Community Development Corporation

Nonprofit profile at a glance

EIN
571011856
IRS 990 coverage
2012–2012
Forms available
Form 990 2012
Location
Charleston, SC, USA
Phone
8437473311
Rating confidence
Limited
Sector
Urban, Community Economic Development

Reported finances

Revenue
$401,399
Expenses
$417,264
Assets
$1,317,229
Liabilities
$708,603

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

Leadership & pay

6 people listed

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

Overview

Mission

Our core business is community revitalization. We specialize in working with you, the community, to provide programs and services in the areas of housing, community education and economic stability. These programs provide access, opportunities and awareness vital to helping communities and families regain and maintain stability, create growth and build resiliency.

What it reported doing in 2012

Charleston area community development corporation provides community revitalization and asset building programs and services to low-moderate income families and struggling communities. These programs and services include: down payment assistance, owner occupied home rehabilitation, emergency home repair, affordable housing development for low-income rental homes or for sale and financial capacity training for homeowners specifically with keeping homes preserved and maintained after services received. Through our owner occupied home repair program 5 units within the city of charleston that are owned and occupied by low income owners received complete rehabilitation services to bring the homes up to code and remove hazards, through our emergency home repair program 7 homes within the city of north charleston received emergency repair services to failing components in their home that posed a safety hazard or cause the family harm, 10 families received down payment assistance to purchase their first home and 35 households received financial capacity training. In addition, the organization received 3 donated homes from wells fargo reo program 1 of which was sold in 2012.

Operating model

Revenue model
Grant-funded. 90% of the money available for current operations came from government grants.
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: 90
  • Accountability: 90
  • Sustainability: 41
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

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

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 60th 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; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -4%; rating input score 32; 32nd percentile among comparable filings
  • Total-asset coverage ratio: 3.16; rating input score 70; 70th percentile among comparable filings
  • Liabilities to assets ratio: 0.54; rating input score 16; 16th percentile among comparable filings
  • Officer compensation ratio: 13.7%; rating input score 31; 31st percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 5 of 5 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $388K in reported program spending
  • Leadership: top reported pay $57K · 6 people listed
  • Consistency: 21 of 21 current checks pass
  • Schedules: 3 filed schedules
  • 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.

  • Moderate — Sustainability: Operating margin scored 32/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Liabilities to assets ratio scored 16/100.
  • Moderate — Sustainability: Officer compensation ratio scored 31/100.