Everence Community Investments Inc

Nonprofit profile at a glance

EIN
352097293
IRS 990 coverage
2011–2014
Forms available
Form 990 2014
Location
Goshen, IN, USA
Phone
5745339511
Rating
69
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Community, Neighborhood Development

Official website

Reported finances

Revenue
$345,705
Expenses
$354,535
Assets
$8,882,774
Liabilities
$8,201,237

Source: IRS Form 990. Selected filing: tax year 2014. Amounts in USD.

Leadership & pay

19 people listed

Executive titles in this filing

  • LARRY D MILLER (PRESIDENT (RETIRED 08/14))
  • KENNETH D HOCHSTETLER (PRESIDENT)
  • RODNEY D DILLER (VICE PRESIDENT)
  • SIDNEY A RICHARD (ASSISTANT VICE PRESIDENT)
  • DAVID C GAUTSCHE (ASSISTANT VICE PRESIDENT)

Highest reported compensation

  • GLEN KAUFFMAN (FINANCIAL ADVISOR): $261,721 total reported compensation
  • CLAIR H SAUDER (FINANCIAL ADVISOR): $247,689 total reported compensation
  • STEVEN R HERENDEEN (FINANCIAL ADVISOR): $234,591 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2014. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Make below-market loans on non-commercial terms to non-profit organizations and other local community economic development organizations for the purpose of financing low-income housing, small business development and community development services in economically distressed areas.

What it reported doing in 2014

Interest from loans and other program related income

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
Cannot be determined from the filing. The program-spending lines do not add up, so the filing cannot show reliably whether the nonprofit works directly or through others.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some related-organization disclosures are missing and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 72
  • Transparency & Controls: 61
  • Accountability: 79
  • Sustainability: 46
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 81.3%; rating input score 81
  • Program expense ratio: 79.6%; rating input score 80
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 22nd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: No; rating input score 0

Accountability

  • Independent voting board: 80%; rating input score 80; 20th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -2.6%; rating input score 34; 34th percentile among comparable filings
  • Total-asset coverage ratio: 25.05; rating input score 97; 97th percentile among comparable filings
  • Liabilities to assets ratio: 0.92; rating input score 8; 8th percentile among comparable filings
  • Officer compensation ratio: 123%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: 10.1% per year; rating input score 100; 67th percentile among comparable filings
  • Revenue growth: 1% per year; rating input score 100; 41st percentile among comparable filings
  • Asset growth: -4.3% per year; rating input score 0; 22nd percentile among comparable filings

Details

  • Where the money goes: 81.3% of revenue deployed · 79.6% of spending went to programs
  • Governance: 4 of 5 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $282K in reported program spending
  • Leadership: top reported pay $262K · 19 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 20 of 21 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes executive pay
  • Filing history: 4 filing years from 2011 to 2014
  • Contacts: How to reach this organization
  • Related organizations: 3 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Transparency & Controls: Related-party transparency scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • Moderate — Sustainability: Operating margin scored 34/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 1/100.
  • High — Sustainability: Liabilities to assets ratio scored 8/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.