Greater Dwight Development Corporation

What it reported doing in 2024

Greater dwight development corporation (gddc) has engaged in a variety of community building activities: gddc became the owner of dwight place, the first community owned, supermarket anchored center in 1998. Gddc has since directed the management of the shopping center to provide all of its businesses with the best chance of success. This was a $15 million project, for which gddc partnered with lisc and the retail initiative. Gddc secured funding in the amount of $3 million and completed the construction in 2006 of the 11,000 s.f. Alvis brooker building located at 230 edgewood ave. To house its offices and the montessori school on edgewood. The dwight neighborhood plan called for the creation of a quality full day, year round early learning center to support working families. This led to the creation of the montessori school on edgewood which has been fully operational since 2006. The school has created 18 jobs, and operates on an annual budget of $700,000 through city and state funding. The school also serves 54 children, many of whom reside in the dwight neighorhood and belong to low and middle income families. Gddc collaborated with the board of education to contribute the 20% local share for the construction of a 10,000 s.f. Addition to the timothy dwight elementary school in exchange for extensive community access to the facility during non-school hours. The gddc homeowners assistance program has completed more than 120 50/50 repairs projects, 8 loan to grant repair projects, and 32 repair projects for empowerment zone residents. Gddc is currently working on an expansion plan for the school which will create an additional 16 infant toddler slots, 8 jobs, and 5 home child care centers that will add an additional 12 jobs to the neighborhood over the next five years. The main expansion of the program will be to 1377 ella t. Grasso blvd., where gddc will renovate the 7,886 s.f. Building to include a 2,473 s.f. Child care center. The location will also include affordable housing for the teachers in the upper floor apartments. In addition, gddc is working on two additional projects that will add 11 units of housing to the dwight neighborhood, along with a community training center that will be used by various non-profits.

Financial Efficiency

• Mission deployment rate: 82.6%; rating input score 83
• Program expense ratio: 69.6%; rating input score 70
• Fundraising efficiency: $19.98 raised per $1 spent on fundraising; rating input score 58; 58th percentile among comparable filings

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: Missing
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • Written employment contract: Missing
  • Compensation survey or study: Missing
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: Limited
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Yes; rating input score 100

Accountability

• Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
• Governance controls: 4 of 8 controls in place; rating input score 50
  • 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: Missing
  • Independent financial-statement audit: Fail

Sustainability

• Operating margin: -18.7%; rating input score 10; 10th percentile among comparable filings
• Total-asset coverage ratio: 4.18; rating input score 82; 82nd percentile among comparable filings
• Liabilities to assets ratio: 0.09; rating input score 43; 43rd percentile among comparable filings
• Officer compensation ratio: 23.8%; rating input score 11; 11th percentile among comparable filings

Growth

• Program expense growth: 8.1% per year; rating input score 100; 56th percentile among comparable filings
• Revenue growth: 8.4% per year; rating input score 100; 60th percentile among comparable filings
• Asset growth: 1.2% per year; rating input score 100; 22nd percentile among comparable filings