Excel Development Company Inc

Nonprofit profile at a glance

EIN
311240715
IRS 990 coverage
2009–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Cincinnati, OH, USA
Phone
5136327149
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Official website

Reported finances

Revenue
$12,699,603
Expenses
$12,647,215
Assets
$17,281,241
Liabilities
$7,839,028

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

Leadership & pay

16 people listed

Executive titles in this filing

  • KEVIN COOLEY SR (CEO)

Highest reported compensation

  • KEVIN COOLEY SR (CEO): $324,904 total reported compensation
  • CONNIE JONES (COO (TERM. OCT 2024)): $157,981 total reported compensation
  • DEBORAH AVERY (CFO (TERM. MAR 2024)): $142,592 total reported compensation

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

Overview

Mission

To provide qualified individuals affordable housing that satisfies their residential needs.

What it reported doing in 2024

Excel development co., inc. Supports severely mentally ill individuals and their families in over 1,100 apartments by providing rental subsidies and housing support in two different permanent supportive housing programs. Excel development co., inc.'s housing programs provide necessary support for their clients to obtain and remain in suitable independent living situations.

Operating model

Revenue model
Grant-funded. 69% of the money available for current operations came from government grants.
Distribution model
Hybrid. The nonprofit split its reported program spending across 56% for direct work, and 44% for grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 80
  • Transparency & Controls: 83
  • Accountability: 95
  • Sustainability: 39
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 89.9%; rating input score 90
  • Program expense ratio: 90.3%; rating input score 90
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • 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: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • 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: 0.4%; rating input score 35; 35th percentile among comparable filings
  • Total-asset coverage ratio: 1.37; rating input score 48; 48th percentile among comparable filings
  • Liabilities to assets ratio: 0.45; rating input score 32; 32nd percentile among comparable filings
  • Officer compensation ratio: 6.8%; rating input score 37; 37th percentile among comparable filings

Growth

  • Program expense growth: 13.5% per year; rating input score 100; 80th percentile among comparable filings
  • Revenue growth: 10.3% per year; rating input score 100; 75th percentile among comparable filings
  • Asset growth: 2.1% per year; rating input score 100; 18th percentile among comparable filings

Details

  • Where the money goes: 89.9% of revenue deployed · 90.3% of spending went to programs
  • Governance: 10 of 10 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $11.4M in reported program spending
  • Leadership: top reported pay $325K · 16 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $1.3M reported
  • Consistency: 33 of 33 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 5 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • 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 — Sustainability: Operating margin scored 35/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 48/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 32/100.
  • Moderate — Sustainability: Officer compensation ratio scored 37/100.