Fort Worth South Inc

Nonprofit profile at a glance

EIN
752640191
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Fort Worth, TX, USA
Phone
8179231649
Rating
69
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$1,653,665
Expenses
$1,672,103
Assets
$876,817
Liabilities
$25,111

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

Leadership & pay

45 people listed

Executive titles in this filing

  • Michael Brennan (President)

Highest reported compensation

  • Michael Brennan (President): $179,050 total reported compensation

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

Overview

Mission

Implementation of a strategic plan for revitalization of Fort Worth's Near Southside as a vibrant urban, mixed-use neighborhood.

What it reported doing in 2024

TIF - Tax Increment Financing District #4 was established to support development in the Near Southside, bringing public and private investment to a district that had suffered from decades of disinvestment and blight. The program has funded many different types of projects, from the repair of sidewalk benches to the construction of a 320-space parking garage, in addition to other large public infrastructure projects throughout the district. Focus areas include - Investment in New Development and Re-Development, Streetscape and Infrastructure Improvements.

Operating model

Revenue model
Other-operating. 75% 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 - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 66
  • Transparency & Controls: 72
  • Accountability: 90
  • Sustainability: 33
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 75.4%; rating input score 75
  • Program expense ratio: 74.3%; rating input score 74
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • 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: Limited
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -1.1%; rating input score 32; 32nd percentile among comparable filings
  • Total-asset coverage ratio: 0.52; rating input score 24; 24th percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 59; 59th percentile among comparable filings
  • Officer compensation ratio: 10.7%; rating input score 34; 34th percentile among comparable filings

Growth

  • Program expense growth: -32% per year; rating input score 0; 1st percentile among comparable filings
  • Revenue growth: -27.5% per year; rating input score 0; 1st percentile among comparable filings
  • Asset growth: 3.6% per year; rating input score 100; 32nd percentile among comparable filings

Details

  • Where the money goes: 75.4% of revenue deployed · 74.3% of spending went to programs
  • Governance: 44 of 44 board members independent · 6 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $1.2M in reported program spending
  • Leadership: top reported pay $179K · 45 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 25 of 25 current checks pass
  • Schedules: 4 filed schedules · includes executive pay and related organizations
  • Filing history: 5 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • 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.

  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 32/100.
  • High — Sustainability: Total-asset coverage ratio scored 24/100.
  • Moderate — Sustainability: Officer compensation ratio scored 34/100.
  • Review — Sustainability: Liabilities to assets ratio scored 59/100.