Charlotte-mecklenburg Development Corporation

Nonprofit profile at a glance

EIN
562054058
IRS 990 coverage
2009–2011
Forms available
Form 990 2011
Location
Charlotte, NC, USA
Phone
7043781300
Rating confidence
Limited
Sector
Community, Neighborhood Development

Official website

Reported finances

Revenue
$283,987
Expenses
$258,594
Assets
$5,432,902
Liabilities
$2,084,438

Source: IRS Form 990. Selected filing: tax year 2011. Amounts in USD.

Leadership & pay

15 people listed

Source: IRS Form 990. Selected filing: tax year 2011. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To help improve the charlotte, nc community for residents in depressed areas of the city.

What it reported doing in 2011

To engage in redevelopment, development, business recruitment, and retention activities for the benefit of inner city areas of charlotte, nc and its residents.

Operating model

Revenue model
Grant-funded. 88% 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: 100
  • Accountability: 95
  • Sustainability: 63
  • Growth: 60

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: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th 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: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 8.9%; rating input score 68; 68th percentile among comparable filings
  • Total-asset coverage ratio: 21.01; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 0.38; rating input score 21; 21st percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: Limited
  • Revenue growth: 70.7% per year; rating input score 100; 95th percentile among comparable filings
  • Asset growth: 9% per year; rating input score 100; 72nd percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 17 of 17 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $184K in reported program spending
  • Leadership: top reported pay $60K · 15 people listed
  • Highest-paid contractors: 1 contractor listed
  • Consistency: 22 of 22 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 3 filing years from 2009 to 2011
  • Related organizations: 2 filed related-organization links
  • 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: CEO compensation review process not reported.
  • High — Sustainability: Liabilities to assets ratio scored 21/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.