Harmony Plaza Real Estate Inc

Nonprofit profile at a glance

EIN
384108024
IRS 990 coverage
2018–2024
Forms available
Form 990 2024
Location
Memphis, TN, USA
Phone
9015828314
Rating confidence
Limited
Sector
Educational Services and Schools - Other

Official website

Reported finances

Revenue
$-120,914
Expenses
$0
Assets
$10,939,956
Liabilities
$12,193,443

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

Leadership & pay

7 people listed

Executive titles in this filing

  • TONY REEDER (PRESIDENT)
  • REV ANTHONY ANDERSON (CO CEO)
  • APRIL BOBO (CO CEO)

Highest reported compensation

  • REV ANTHONY ANDERSON (CO CEO): $241,121 total reported compensation
  • APRIL BOBO (CO CEO): $183,580 total reported compensation
  • NANCY REEVES (CFO): $132,190 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Harmony plaza real estate, inc is a supporting organization for memphis business academy. Memphis business academy is a public charter school authorized by the shelby county schools board of education. The mission of the school is to improve the academic achievement of elementary, middle and high schools in math, science, social studies and language arts with a business/finance emphasis.

What it reported doing in 2024

Harmony plaza real estate supports memphis business academy (mba) by making real estate improvements to assets owned by mba.

Operating model

Revenue model
No positive adjusted resources. The filing reports no positive adjusted operating resources.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 60
  • Accountability: 100
  • Sustainability: 10
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • 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: 100%; rating input score 100; 64th 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: -100%; rating input score 20; 20th percentile among comparable filings
  • Total-asset coverage ratio: Limited
  • Liabilities to assets ratio: 1.11; rating input score 5; 5th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: -71.5% per year; rating input score 0; 3rd percentile among comparable filings
  • Revenue growth: Limited
  • Asset growth: -3.5% per year; rating input score 0; 25th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 4 of 4 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $241K · 7 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 12 of 12 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 6 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Operating margin scored 20/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 5/100.