Grady Cass Inc

Nonprofit profile at a glance

EIN
852828602
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Atlanta, GA, USA
Phone
4046161846
Rating
67
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Real Estate Associations

Official website

Reported finances

Revenue
$6,262,000
Expenses
$5,281,487
Assets
$270,887,925
Liabilities
$53,492,717

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

Leadership & pay

3 people listed

Executive titles in this filing

  • JOHN HAUPERT (DIRECTOR & PRESIDENT)

Highest reported compensation

  • JOHN HAUPERT (DIRECTOR & PRESIDENT): $2,698,520 total reported compensation
  • ANTHONY SAUL (DIRECTOR & CFO): $1,131,570 total reported compensation
  • TIMOTHY JEFFERSON (DIRECTOR & VP & SECRETARY): $892,360 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 hold title to property, collect income, to distribute income, less expenses to grady memorial hospital corporation, an organization as described in section 501(c)(3) of the internal revenue code, and to perform all other acts necessary or incidental to the above and to do whatever is deemed necessary, useful, advisable, or conductive, directly or indirectly, as determined by the board of directors, to carry out the purpose of the corporation, as set forth in these articles of incorporation, including the exercise of all other power and authority enjoyed by corporation generally by virtue of the provisions of the Georgia nonprofit corporation code (within and subject to the limitations of section 501(c)(2) of the internal revenue code).

What it reported doing in 2024

On august 27, 2020, grady memorial hospital corporation (gmhc) entered into a transaction with a bank and certain lenders to obtain financing through the new markets tax credit (nmtc) program sponsored by the u.s. Department of treasury. The nmtc program permits certain taxpayers to receive a credit against federal income taxes for making qualified equity investments (qeis) in community development entities (cdes). Through the transaction, grady cass, inc., a wholly-owned subsidiary of gmhc, was formed for the purpose of effecting gmhc's participation in the nmtc program. The u.s. Tax credit provided to the investor totals 39 percent of the initial value of the qei and is claimed over a seven-year credit allowance period.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program 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. A relatively small share of voting board members are independent and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 80
  • Transparency & Controls: 60
  • Accountability: 42
  • Sustainability: 77
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 84.3%; rating input score 84
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • 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: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 3rd percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 15.7%; rating input score 72; 72nd percentile among comparable filings
  • Total-asset coverage ratio: 51.29; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0.2; rating input score 44; 44th percentile among comparable filings
  • Officer compensation ratio: 2.5%; rating input score 73; 73rd percentile among comparable filings

Growth

  • Program expense growth: 29.9% per year; rating input score 100; 92nd percentile among comparable filings
  • Revenue growth: 57.3% per year; rating input score 100; 98th percentile among comparable filings
  • Asset growth: 23.8% per year; rating input score 100; 88th percentile among comparable filings

Details

  • Where the money goes: 84.3% of revenue deployed · 100% of spending went to programs
  • Governance: 0 of 3 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $5.3M in reported program spending
  • Leadership: top reported pay $2.7M · 3 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 13 of 13 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 4 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 5 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 — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 44/100.