Jewish Renaissance Community Development Corporation

Nonprofit profile at a glance

EIN
300587835
IRS 990 coverage
2011–2015
Forms available
Form 990 2015, Form 990-EZ 2012
Location
Perth Amboy, NJ, USA
Phone
7323242114
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Community, Neighborhood Development
Affiliation
Judaism

Reported finances

Revenue
$363,723
Expenses
$478,712
Assets
$64,900
Liabilities
$30,032

Source: IRS Form 990. Selected filing: tax year 2015. Amounts in USD.

Leadership & pay

7 people listed

Executive titles in this filing

  • THOMAS HUDANISH (CEO)

Highest reported compensation

  • ALAN GOLDSMITH (ADVISOR): $226,237 total reported compensation
  • THOMAS HUDANISH (CEO): $35,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2015. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The corporation is organized, and at all times be operated, exlusively for the benefit of, to perform the functions of and to carry out the purposes of, the jewish renaissance foundation (jrf), inc., as an authorized state-designated chdo tasked to provide the supply of decent affordable housing for low and moderate income persons and households throughout the state of New Jersey, with a focus on directing community housing development organization (chdo) activities to the county of middlesex, New Jersey.

What it reported doing in 2015

During fiscal year 2014-2015, the corporation acquired and rehabilitated housing properties located at 751 lee street, and 439 johnstone street in perth amboy, New Jersey. The property was acquired through a federal home project grant funded by the u.s. Department of housing and urban development, and from nrtc. The rehabilitation costs were funded through a secured mortgage from amboy bank.

Operating model

Revenue model
Affiliate-supported. 67% of the money available for current operations came from contributions from related organizations.
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. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 65
  • Accountability: 95
  • Sustainability: 12
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 81.1%; rating input score 81
  • 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: 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: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -31.6%; rating input score 9; 9th percentile among comparable filings
  • Total-asset coverage ratio: 0.14; rating input score 9; 9th percentile among comparable filings
  • Liabilities to assets ratio: 0.46; rating input score 16; 16th percentile among comparable filings
  • Officer compensation ratio: 15.7%; rating input score 26; 26th percentile among comparable filings

Growth

  • Program expense growth: 43.2% per year; rating input score 100; 93rd percentile among comparable filings
  • Revenue growth: 42.4% per year; rating input score 100; 96th percentile among comparable filings
  • Asset growth: 9.5% per year; rating input score 100; 69th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 81.1% of spending went to programs
  • Governance: 5 of 5 board members independent · 7 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $388K in reported program spending
  • Leadership: top reported pay $226K · 7 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 21 of 21 current checks pass
  • Schedules: 5 filed schedules · includes major donors and executive pay
  • Filing history: 4 filing years from 2011 to 2015
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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: Pay-setting controls scored 0/100.
  • High — Sustainability: Operating margin scored 9/100.
  • High — Sustainability: Total-asset coverage ratio scored 9/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Liabilities to assets ratio scored 16/100.
  • High — Sustainability: Officer compensation ratio scored 26/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.