Easton Redevelopment Corporation

Nonprofit profile at a glance

EIN
141861533
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Easton, MD, USA
Phone
4108225358
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$138,243
Expenses
$87,708
Assets
$563,394
Liabilities
$771,003

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

Leadership & pay

4 people listed

Executive titles in this filing

  • Don Bibb (CEO)

People named in this filing

  • Carlene Phoenix (Director)
  • Carolyn Jaffe (Director)
  • Don Bibb (CEO)

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 assist various government entities in providing and developing housing opportunities for the low income population. To provide management services for affordable/low income housing

What it reported doing in 2024

Manage and maintain 85 units and related agency funds for other agency.

Operating model

Revenue model
Other-operating. 92% of the money available for current operations came from other operating 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 - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 68
  • Transparency & Controls: 92
  • Accountability: 76
  • Sustainability: 73
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 62.5%; rating input score 63
  • Program expense ratio: 98.5%; rating input score 99
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • 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: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 36.6%; rating input score 86; 86th percentile among comparable filings
  • Total-asset coverage ratio: 6.42; rating input score 83; 83rd percentile among comparable filings
  • Liabilities to assets ratio: 1.37; rating input score 3; 3rd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -1.7% per year; rating input score 0; 25th percentile among comparable filings
  • Revenue growth: 5.3% per year; rating input score 100; 54th percentile among comparable filings
  • Asset growth: -1.1% per year; rating input score 0; 21st percentile among comparable filings

Details

  • Where the money goes: 62.5% of revenue deployed · 98.5% of spending went to programs
  • Governance: 3 of 3 board members independent · 3 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $86K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 42 of 42 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 5 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • 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 — Accountability: Governance controls: 4 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 3/100.