Convergence Collaborative Inc

Nonprofit profile at a glance

EIN
992800518
IRS 990 coverage
2025–2025
Forms available
Form 990 2025
Location
Washington, DC, USA
Phone
2025572869
Rating
69
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Professional Societies, Associations

Reported finances

Revenue
$979,828
Expenses
$230,554
Assets
$1,250,531
Liabilities
$29,338

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

11 people listed

People named in this filing

  • Michael Briggs (Secretary)
  • Chuck Bishop (Board Director)
  • Pete Carroll (Board Director)

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 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

CONVERGENCE addresses the information trust market and resource gaps that hold back potential homebuyers. It utilizes a comprehensive toolbox of resources support and expertise to equip aspiring homebuyers with the necessary tools to achieve homeownership.

What it reported doing in 2025

CONVERGENCE Memphis organized a Land Expo to address land access and housing for developers and a Home Expo to empower first-time homebuyers in Memphis. The organization also built 10 energy-efficient homes through The Zodiac Road Project to offer affordable housing solutions and collaborated with the Memphis Area Association of REALTORS to provide a course on discrimination in housing for real estate professionals.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 44% for direct work, and 56% for grants.

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: 42
  • Transparency & Controls: 100
  • Accountability: 88
  • Sustainability: 85
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 21.4%; rating input score 21
  • Program expense ratio: 89.8%; rating input score 90
  • 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; 78th 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; 64th percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 76.5%; rating input score 96; 96th percentile among comparable filings
  • Total-asset coverage ratio: 5.42; rating input score 85; 85th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 52; 52nd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 78; 78th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 21.4% of revenue deployed · 89.8% of spending went to programs
  • Governance: 10 of 10 board members independent · 5 of 7 filing controls reported
  • Programs: 4 filed program accomplishments · $207K in reported program spending
  • Leadership: top reported pay $0 · 11 people listed
  • Consistency: 42 of 42 current checks pass
  • Schedules: 4 filed schedules · includes major donors and grants
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • 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 — Financial Efficiency: Mission deployment rate scored 21/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Review — Sustainability: Liabilities to assets ratio scored 52/100.