Haven Redevelopment Group Inc

Nonprofit profile at a glance

EIN
452708534
IRS 990 coverage
2016–2017
Forms available
Form 990 2017
Location
Kernersville, NC, USA
Phone
3366089586
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Homeowners & Tenants Associations

Reported finances

Revenue
$257,903
Expenses
$394,873
Assets
$2,341,311
Liabilities
$1,659,322

Source: IRS Form 990. Selected filing: tax year 2017. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

  • TERRANCE GERALD (CEO)

Highest reported compensation

  • TERRANCE GERALD (CEO): $123,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2017. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide affordale housing to the low-moderate income residents of the state of nc, including elderly and veterans housing.

What it reported doing in 2017

To provide affordable housing for to the low-moderate income residents in the state of nc.

Operating model

Revenue model
Earned-program. 86% 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. The required major-donor schedule is missing or incomplete and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 85
  • Transparency & Controls: 75
  • Accountability: 74
  • Sustainability: 28
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 87.1%; rating input score 87
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: No; rating input score 0
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Fail
    • 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: -53.1%; rating input score 4; 4th percentile among comparable filings
  • Total-asset coverage ratio: 5.93; rating input score 82; 82nd percentile among comparable filings
  • Liabilities to assets ratio: 0.71; rating input score 10; 10th percentile among comparable filings
  • Officer compensation ratio: 31.1%; rating input score 10; 10th percentile among comparable filings

Growth

  • Program expense growth: 6.7% per year; rating input score 100; 65th percentile among comparable filings
  • Revenue growth: 35.3% per year; rating input score 100; 95th percentile among comparable filings
  • Asset growth: -7% per year; rating input score 0; 13th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 87.1% of spending went to programs
  • Governance: 3 of 3 board members independent · 3 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $344K in reported program spending
  • Leadership: top reported pay $123K · 4 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 2 filing years from 2016 to 2017
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • High — Transparency & Controls: Major donor itemization scored 0/100.
  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • High — Sustainability: Operating margin scored 4/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 10/100.
  • High — Sustainability: Officer compensation ratio scored 10/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.