Harmony Neighborhood Development Inc

Nonprofit profile at a glance

EIN
721436907
IRS 990 coverage
2011–2016
Forms available
Form 990 2016
Location
New Orleans, LA, USA
Phone
5045243919
Rating
68
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Neighborhood, Block Associations

Official website

Reported finances

Revenue
$698,669
Expenses
$515,823
Assets
$3,907,290
Liabilities
$2,337,584

Source: IRS Form 990. Selected filing: tax year 2016. Amounts in USD.

Leadership & pay

11 people listed

People named in this filing

  • KATHY LABORDE (CHAIRMAN)
  • ANGELA O'BYRNE (VICE CHAIRMA)
  • STEVEN MASSICOT (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. Selected filing: tax year 2016. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Harmony neighborhood development was established in 1998 as new orleans neighborhood collaborative (nondc), a coalition of nonprofit and public partners committed to re-energizing the city's social, physical, and economic landscape by securing support for the delivering technical assistance to small community organizations. In 2006, we partnered with national affordable housing developer mccormack baron salazar in the redevelopment of old cj pete housing project, into the now 460 unit mixed- income harmony oaks apartment. Through a hope vi partnership harmony developed 55 single-family homes for sale to low-to-moderate income buyers to stabilize the neighborhood surrounding harmony oaks. With the funds, we were able to leverage additional dollars to allow us to build an additional 17 homes and 18 affordable rental units. Beyond the development of high-quality homes, harmony continues to invest its resources in the heart of our great city, the people through harmony's wealth and asset b

What it reported doing in 2016

Harmony neighborhood development is focused on the comprehensive revitalization of new orleans with residents at the heart of the work. Our approach includes blight elimination, high-quality home construction, financial capability programming, and small-scale commercial development. Harmony has and continues to leverage funding and relationships to meet its goals and mission. 13.1 million in funding and financing has been secured for development of our properties resulting in 72 completed homes of which 67 have been sold to very low and moderate income families. In 2016 harmony started the construction of 5 additional single family homeownership units with home funded construction subsidy. Harmony is a partner in the pre- development of 72 affordable rental units in the lower 9th ward of new orleans. Harmony is also revitalizing a key neighborhood commercial corridor in central city with an intense focus on creating economic opportunity for residents through job training, direct employment and small business development.

Operating model

Revenue model
Donor-supported. 72% of the money available for current operations came from contributions and gifts.
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 - 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 program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 43
  • Transparency & Controls: 92
  • Accountability: 94
  • Sustainability: 79
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 36.3%; rating input score 36
  • Program expense ratio: 69.8%; rating input score 70
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 7 controls in place; rating input score 86
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 26.2%; rating input score 87; 87th percentile among comparable filings
  • Total-asset coverage ratio: 7.57; rating input score 90; 90th percentile among comparable filings
  • Liabilities to assets ratio: 0.6; rating input score 16; 16th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 84; 84th percentile among comparable filings

Growth

  • Program expense growth: -13.4% per year; rating input score 0; 8th percentile among comparable filings
  • Revenue growth: -28.8% per year; rating input score 0; 2nd percentile among comparable filings
  • Asset growth: -5.3% per year; rating input score 0; 13th percentile among comparable filings

Details

  • Where the money goes: 36.3% of revenue deployed · 69.8% of spending went to programs
  • Governance: 11 of 11 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $360K in reported program spending
  • Leadership: top reported pay $0 · 11 people listed
  • Consistency: 30 of 30 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 6 filing years from 2011 to 2016
  • Contacts: How to reach this organization
  • Related organizations: 3 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • Moderate — Financial Efficiency: Mission deployment rate scored 36/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 16/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.