Gainesville Non-profit Dev Fdn

Nonprofit profile at a glance

EIN
581098001
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
Gainesville, GA, USA
Phone
7705356866
Rating
53
Verdict
MIXED
Rating confidence
Moderate
Sector
Housing Rehabilitation

Reported finances

Revenue
$69,736
Expenses
$33,816
Assets
$2,114,945
Liabilities
$242,018

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

Leadership & pay

8 people listed

Executive titles in this filing

  • AUDREY SIMMONS (PRESIDENT)

Highest reported compensation

  • JESSICA TULLAR (EXECUTIVE DI): $114,030 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 eliminate slums, combat community deterioration, secure adequate housing, purchase and/or develop land, and improve living conditions in the city of gainesville, Georgia and engage in all lawful activities directly or indirectly related thereto.

What it reported doing in 2024

Assist low-income to moderate income households to finance eligible affordable homes by providing down payment, closing cost, pre-paid items, and principal reduction assistance. Funds are also used to assist existing low-income homeowners by providing rehabilitation assistance to their homes.

Operating model

Revenue model
Investment-supported. 87% of the money available for current operations came from recurring investment income.
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

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 13
  • Transparency & Controls: 90
  • Accountability: 79
  • Sustainability: 71
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 6.9%; rating input score 7
  • Program expense ratio: 28.1%; rating input score 28
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 51.5%; rating input score 88; 88th percentile among comparable filings
  • Total-asset coverage ratio: 62.54; rating input score 93; 93rd percentile among comparable filings
  • Liabilities to assets ratio: 0.11; rating input score 18; 18th percentile among comparable filings
  • Officer compensation ratio: 101%; rating input score 4; 4th percentile among comparable filings

Growth

  • Program expense growth: -7.7% per year; rating input score 0; 33rd percentile among comparable filings
  • Revenue growth: -4.9% per year; rating input score 0; 44th percentile among comparable filings
  • Asset growth: 5.7% per year; rating input score 100; 68th percentile among comparable filings

Details

  • Where the money goes: 6.9% of revenue deployed · 28.1% of spending went to programs
  • Governance: 8 of 8 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $10K in reported program spending
  • Leadership: top reported pay $114K · 8 people listed
  • Consistency: 17 of 17 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 12 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • 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 — Financial Efficiency: Mission deployment rate scored 7/100.
  • High — Financial Efficiency: Program expense ratio scored 28/100.
  • Review — Accountability: Governance controls: 4 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 4/100.
  • High — Sustainability: Liabilities to assets ratio scored 18/100.