Lakewest Revitalization Foundation Inc

Nonprofit profile at a glance

EIN
752459212
IRS 990 coverage
2010–2020
Forms available
Form 990 2020
Location
Dallas, TX, USA
Phone
2149518300
Rating
30
Verdict
REVIEW
Rating confidence
Moderate
Sector
Community, Neighborhood Development

Reported finances

Revenue
$-520,774
Expenses
$12,120
Assets
$9,845,062
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • ARRVEL WILSON (VICE PRESIDENT)
  • TROY BROUSSARD (PRESIDENT)

Highest reported compensation

  • TROY BROUSSARD (PRESIDENT): $506,399 total reported compensation
  • CHETANA CHAPHEKAR (TRUSTEE): $318,611 total reported compensation
  • TIMOTHY LOTT (SECRETARY/TREASURER): $216,740 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2020. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Since the underlying property was sold, the organization is in the process of winding down and expects to dissolve in 2021.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

REVIEW - The filed numbers largely add up and revenue has grown recently. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 60
  • Accountability: 35
  • Sustainability: 47
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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: 20%; rating input score 20; 17th percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -102.3%; rating input score 21; 21st percentile among comparable filings
  • Total-asset coverage ratio: 812.3; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 71; 71st percentile among comparable filings
  • Officer compensation ratio: 1,072.1%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: -12.9% per year; rating input score 0; 33rd percentile among comparable filings
  • Revenue growth: 10.6% per year; rating input score 100; 91st percentile among comparable filings
  • Asset growth: 2.5% per year; rating input score 100; 55th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 1 of 5 board members independent · 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $506K · 5 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 13 of 13 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 11 filing years from 2010 to 2020
  • 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 — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Accountability: Independent voting board scored 20/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Operating margin scored 21/100.
  • High — Sustainability: Officer compensation ratio scored 1/100.