City of Fairfax Renaissance Housing Corp

Nonprofit profile at a glance

EIN
542021535
IRS 990 coverage
2015–2024
Forms available
Form 990 2024, Form 990-EZ 2014
Location
Fairfax, VA, USA
Phone
7033857824
Rating
88
Verdict
STRONG
Rating confidence
Moderate
Sector
Housing Rehabilitation

Official website

Reported finances

Revenue
$5,817
Expenses
$473,839
Assets
$855,269
Liabilities
$37,873

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

Leadership & pay

7 people listed

Executive titles in this filing

  • PAUL CUNNINGHAM (PRESIDENT (BEG 7/2024))
  • ALAN GLENN (VICE-PRESIDENT (UNTIL 7/24))
  • DOUGLAS ROSS (TREASURER & VICE-PRESIDENT (BEG 7/24))

People named in this filing

  • PAUL CUNNINGHAM (PRESIDENT (BEG 7/2024))
  • ALAN GLENN (VICE-PRESIDENT (UNTIL 7/24))
  • JAMES SHIPP (SECRETARY)

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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To encourage community revitalization and redevelopment in the city of fairfax.

What it reported doing in 2024

The corporation participates in a program in conjunction with a local bank under which the bank lends money to qualified homeowners for home improvements, and the corporation pays all the interest on those 2 year bank loans. The corporation establishes the criteria for participation in the program and evaluates applications from homeowners to determine the homeowners' eligibility for the program. The bank determines whether to lend to the homeowner based upon its lending criteria. The purpose of the loan program is to encourage homeowners to improve old and deteriorated homes in order to improve the quality of residential neighborhoods in fairfax.

Operating model

Revenue model
Investment-supported. 73% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 93
  • Accountability: 94
  • Sustainability: 20
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 94.3%; rating input score 94
  • 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: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 6 of 7 controls in place; rating input score 86
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • 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: -8,045.8%; rating input score 2; 2nd percentile among comparable filings
  • Total-asset coverage ratio: 1.8; rating input score 33; 33rd percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 22; 22nd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: 20.4% per year; rating input score 100; 85th percentile among comparable filings
  • Revenue growth: 12.1% per year; rating input score 100; 89th percentile among comparable filings
  • Asset growth: 7.2% per year; rating input score 100; 73rd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 94.3% of spending went to programs
  • Governance: 6 of 6 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $447K in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 21 of 21 current checks pass
  • Schedules: 4 filed schedules · includes grants
  • Filing history: 10 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • 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 — Sustainability: Operating margin scored 2/100.
  • Review — Accountability: Governance controls: Whistleblower policy not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 33/100.
  • High — Sustainability: Liabilities to assets ratio scored 22/100.