Civic 411 Wales Corporation

Nonprofit profile at a glance

EIN
822312084
IRS 990 coverage
2018–2024
Forms available
Form 990 2024
Location
New York, NY, USA
Phone
2125717260
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Low-Income & Subsidized Rental Housing

Reported finances

Revenue
$2,758,111
Expenses
$3,737,244
Assets
$42,030,115
Liabilities
$43,211,270

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

Leadership & pay

13 people listed

Executive titles in this filing

  • DAVID UMANSKY (PRESIDENT)

Highest reported compensation

  • DAVID UMANSKY (PRESIDENT): $559,678 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 was formed as a 501(c)(3) organization for the purpose of furthering the charitable purposes of civic builders, inc., a 501(c)(3) organization that provides turn-key solutions for charter school real estate needs. Specifically, this corporation was formed to secure financing, make an investment, lease, renovate, and sublease a charter school building located at 411 wales avenue, bronx, ny. Renovation was completed and the charter school subtenants took occupancy in august 2019.

What it reported doing in 2024

Provide turn-key real estate solutions for charter schoolsexpenses were incurred in connection with developing, financing, leasing, and subleasing a charter school building located at 411 wales avenue, bronx, ny which is occupied by by ncs.

Operating model

Revenue model
Earned-program. 99% 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. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 60
  • Accountability: 85
  • Sustainability: 38
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 98.8%; rating input score 99
  • 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: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 92.3%; rating input score 92; 23rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • 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: -35.5%; rating input score 3; 3rd percentile among comparable filings
  • Total-asset coverage ratio: 11.25; rating input score 92; 92nd percentile among comparable filings
  • Liabilities to assets ratio: 1.03; rating input score 4; 4th percentile among comparable filings
  • Officer compensation ratio: 1.3%; rating input score 79; 79th percentile among comparable filings

Growth

  • Program expense growth: 22.5% per year; rating input score 100; 87th percentile among comparable filings
  • Revenue growth: 24.1% per year; rating input score 100; 91st percentile among comparable filings
  • Asset growth: 8.7% per year; rating input score 100; 53rd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 98.8% of spending went to programs
  • Governance: 12 of 13 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $3.7M in reported program spending
  • Leadership: top reported pay $560K · 13 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 22 of 22 current checks pass
  • Schedules: 6 filed schedules · includes executive pay
  • Filing history: 7 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 7 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.
  • High — Sustainability: Operating margin scored 3/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 4/100.