Club 720 Development Corporation
Nonprofit profile at a glance
- EIN
- 208263324
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024, Form 990-EZ 2016
- Location
- Fort Wayne, IN, USA
- Phone
- 2606152614
- Rating
- 76
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Community Improvement, Capacity Building N.E.C.
Reported finances
- Revenue
- $3,621,820
- Expenses
- $1,486,039
- Assets
- $4,097,654
- Liabilities
- $1,527,370
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
6 people listed
Executive titles in this filing
- HEATHER PRESLEY-COWEN (CEO)
Highest reported compensation
- HEATHER PRESLEY-COWEN (CEO): $109,097 total reported compensation
- RYAN CHASEY (COO): $92,769 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Club 720 development corporation is organized for purposes that are exclusively charitable and educational and consist of the following: (1) to provide basic living facilities for economically distressed individuals through housing development in order to improve the living conditions and economic well-being of individuals and to engage in related activities in order to improve the living conditions and economic well-being of said individuals. (2) to create a social environment of self-determination and cooperation that encourages economically distressed residents to pursue their life goals and aspirations, especially with regard to adequate housing, with a sense of self-respect and dignity. (3) to do any and all lawful activities which may be necessary, useful, or desirable for the furtherance, accomplishment, fostering, or attainment of the foregoing purposes, either directly or indirectly and either alone or in conjunction or cooperation with others, whether such others be persons o
What it reported doing in 2024
Club 720 development corporation d/b/a housing resource hub completed several projects directly related to its vision of "cultivating thriving communities." the organization worked intensively in communities to create and implement housing strategies that are designed to develop actionable housing solutions and financial education programs. This work helped to create a foundation for economic empowerment and stability. The work included directly leading pre-development activities for housing projects that were highly prioritized by the community. The organization worked regionally by supporting the mayors and commissioners caucus of northeast Indiana.
Operating model
- Revenue model
- Grant-funded. 71% of the money available for current operations came from government grants.
- Distribution model
- Direct operator. The filing allocates 85% 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 - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.
Rating breakdown
- Financial Efficiency: 56
- Transparency & Controls: 94
- Accountability: 82
- Sustainability: 71
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 30.3%; rating input score 30
- Program expense ratio: 89%; rating input score 89
- Fundraising efficiency: $116.11 raised per $1 spent on fundraising; rating input score 88; 88th percentile among comparable filings
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; 72nd percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 5 of 9 controls in place; rating input score 56
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Fail
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 59%; rating input score 94; 94th percentile among comparable filings
- Total-asset coverage ratio: 2.76; rating input score 71; 71st percentile among comparable filings
- Liabilities to assets ratio: 0.37; rating input score 29; 29th percentile among comparable filings
- Officer compensation ratio: 13.6%; rating input score 21; 21st percentile among comparable filings
Growth
- Program expense growth: 19.3% per year; rating input score 100; 84th percentile among comparable filings
- Revenue growth: 17.7% per year; rating input score 100; 86th percentile among comparable filings
- Asset growth: 23.4% per year; rating input score 100; 88th percentile among comparable filings
Details
- Where the money goes: 30.3% of revenue deployed · 89% of spending went to programs
- Governance: 4 of 4 board members independent · 5 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $1.3M in reported program spending
- Leadership: top reported pay $109K · 6 people listed
- Highest-paid contractors: 5 contractors listed · $3.4M reported
- Consistency: 29 of 29 current checks pass
- Schedules: 6 filed schedules · includes major donors and grants
- Filing history: 13 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 5 filed money-flow records
- Related organizations: 1 filed related-organization link
- 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.
- Moderate — Financial Efficiency: Mission deployment rate scored 30/100.
- Review — Accountability: Governance controls: 3 of 8 not reported.
- High — Sustainability: Officer compensation ratio scored 21/100.
- High — Sustainability: Liabilities to assets ratio scored 29/100.