Ghent District Foundation

Nonprofit profile at a glance

EIN
920745864
IRS 990-EZ coverage
2022–2025
Forms available
Form 990-EZ 2025
Location
Norfolk, VA, USA
Phone
7574469481
Rating
84
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$33,549
Expenses
$28,873
Assets
$44,164

Source: IRS Form 990-EZ. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

9 people listed

Executive titles in this filing

  • CLAUS IHLEMANN (PRESIDENT)

People named in this filing

  • CLAUS IHLEMANN (PRESIDENT)
  • KELLY A JOHNSON (TREASURER)
  • PATRICK W MOORE (SECRETARY)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990-EZ. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Prevention of blight in the ghent district, support underprivileged entrepreneurs and minority owned businesses, and promote and support the preservation of the historic ghent corridor and the non-profit organizations within the community.

What it reported doing in 2025

To support the non-profit organizations within the community, including underprivileged entrepreneurs and minority owned businesses.

Operating model

Revenue model
Donor-supported. 85% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 68% for direct work, and 32% for grants.

The verdict

STRONG - The filed numbers largely add up and a large share of available resources goes toward mission work. Total assets are small relative to annual expenses; liquid coverage is unknown and reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 72
  • Transparency & Controls: 100
  • Sustainability: 55
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 67.8%; rating input score 68
  • Program expense ratio: 78.8%; rating input score 79

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100

Sustainability

  • Operating margin: 13.9%; rating input score 65; 65th percentile among comparable filings
  • Total-asset coverage ratio: 1.53; rating input score 59; 59th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: 34.5% per year; rating input score 100; 88th percentile among comparable filings
  • Revenue growth: 22.7% per year; rating input score 100; 91st percentile among comparable filings
  • Asset growth: 41.9% per year; rating input score 100; 93rd percentile among comparable filings

Details

  • Where the money goes: 67.8% of revenue deployed · 78.8% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $23K in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 7 of 7 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 4 filing years from 2022 to 2025
  • 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.

  • Review — Sustainability: Total-asset coverage ratio scored 59/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.