Community Ventures Corporation

Nonprofit profile at a glance

EIN
311064807
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Lexington, KY, USA
Phone
8592310054
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Community Improvement, Capacity Building N.E.C.

Official website

Reported finances

Revenue
$11,943,588
Expenses
$15,019,786
Assets
$100,313,664
Liabilities
$67,018,399

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

Leadership & pay

33 people listed

Executive titles in this filing

  • DANIEL HEFFERNAN (PRESIDENT NMTC)
  • JEFF POE (PRESIDENT HOUSING)
  • SHANE DARRISAW (PRESIDENT MPACT PRO)
  • BRENDA WEAVER (PRESIDENT DISASTER RECOVERY)
  • KEVIN SMITH (PRESIDENT & CEO)
  • MARK JOHNSON (PRESIDENT OF ART INC)

Highest reported compensation

  • KEVIN SMITH (PRESIDENT & CEO): $286,792 total reported compensation
  • MILTON SHARP (PRESIDENT - EHOME): $183,951 total reported compensation
  • BRENDA WEAVER (PRESIDENT DISASTER RECOVERY): $180,406 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Community ventures corporation, inc.'s (cvc) central mission is to provide individuals and families with the skills, income, and assets they need to achieve financial independence. Cvc helps people increase income and build assets with three main strategies: small business ownership, home ownership, and job creation through business expansion.

What it reported doing in 2024

Cvc assists families accompolish their dreams of purchasing homes, reducing debt, and increasing financial literacy through their ehome america platform. Ehome america is an online financial education platform that offers affordable financial education to customers across the globe. The courses are offered on demand at the customers convenience. The platform offers eduction in the following areas: 1) homebuyer education - comprehensive 8 hour online homebuyer course that is offered in english and spansish and sanctioned by hud and usda 2.) money management - a 2-3 hour course with a professional partner to assist customers in taking control of their finanaces and generating peace of mind for their financial futures 3.) forecolsure prevention - course is designed to assist customers navigate the challenges of the foreclosure process and steps that can be taken to avoid the loss of their home.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 92% 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

STRONG - 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 fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 68
  • Accountability: 91
  • Sustainability: 31
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 82.8%; rating input score 83
  • Fundraising efficiency: $10.66 raised per $1 spent on fundraising; rating input score 40; 40th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 10th 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: 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; 66th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -25.8%; rating input score 4; 4th percentile among comparable filings
  • Total-asset coverage ratio: 6.68; rating input score 88; 88th percentile among comparable filings
  • Liabilities to assets ratio: 0.67; rating input score 19; 19th percentile among comparable filings
  • Officer compensation ratio: 18%; rating input score 5; 5th percentile among comparable filings

Growth

  • Program expense growth: 10.8% per year; rating input score 100; 73rd percentile among comparable filings
  • Revenue growth: 4.9% per year; rating input score 100; 43rd percentile among comparable filings
  • Asset growth: 9.3% per year; rating input score 100; 62nd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 82.8% of spending went to programs
  • Governance: 17 of 17 board members independent · 7 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $12.4M in reported program spending
  • Leadership: top reported pay $287K · 33 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $3.5M reported
  • Consistency: 29 of 30 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 20 filed money-flow records
  • Related organizations: 5 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.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 40/100.
  • High — Sustainability: Operating margin scored 4/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Officer compensation ratio scored 5/100.
  • High — Sustainability: Liabilities to assets ratio scored 19/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.