Fairfax Renaissance Development

Nonprofit profile at a glance

EIN
341706856
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Cleveland, OH, USA
Phone
2163618400
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Housing Rehabilitation

Official website

Reported finances

Revenue
$3,629,372
Expenses
$3,865,572
Assets
$23,432,074
Liabilities
$9,175,663

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

Leadership & pay

17 people listed

Executive titles in this filing

  • STEFAN HOLMES (PRESIDENT)

Highest reported compensation

  • DENISE VANLEER (EXECUTIVE DI): $199,785 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 revitalization

What it reported doing in 2024

The organization's activities have continued to be focused on promoting improvement and rehabilitation of the fairfax area in the city of cleveland, Ohio. As well as on providing additional community revitalization efforts in cuyahoga county in general.

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 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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Program spending has declined or grown slowly and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 92
  • Transparency & Controls: 74
  • Accountability: 100
  • Sustainability: 43
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 94.9%; rating input score 95
  • Program expense ratio: 89.1%; rating input score 89
  • Fundraising efficiency: $159.86 raised per $1 spent on fundraising; rating input score 90; 90th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Scored; rating input score 0

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -6.5%; rating input score 18; 18th percentile among comparable filings
  • Total-asset coverage ratio: 6.06; rating input score 86; 86th percentile among comparable filings
  • Liabilities to assets ratio: 0.39; rating input score 27; 27th percentile among comparable filings
  • Officer compensation ratio: 5.2%; rating input score 52; 52nd percentile among comparable filings

Growth

  • Program expense growth: -1% per year; rating input score 0; 11th percentile among comparable filings
  • Revenue growth: -4.2% per year; rating input score 0; 4th percentile among comparable filings
  • Asset growth: -0.8% per year; rating input score 0; 10th percentile among comparable filings

Details

  • Where the money goes: 94.9% of revenue deployed · 89.1% of spending went to programs
  • Governance: 16 of 16 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $3.4M in reported program spending
  • Leadership: top reported pay $200K · 17 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 3 contractors listed · $1.2M reported
  • Consistency: 30 of 30 current checks pass
  • Schedules: 6 filed schedules · includes major donors, executive pay, and related organizations
  • Filing history: 13 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 9 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 — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 18/100.
  • High — Transparency & Controls: Related-party transparency scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 27/100.
  • Review — Sustainability: Officer compensation ratio scored 52/100.