LawrenceFort Harrison Development Corp

Nonprofit profile at a glance

EIN
351982082
IRS 990 coverage
2010–2020
Forms available
Form 990 2020, Form 990-EZ 2019
Location
Lawrence, IN, USA
Phone
3175420146
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Community, Neighborhood Development

Reported finances

Revenue
$-45,689
Expenses
$85,606
Assets
$113,372
Liabilities
$14,451

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

Leadership & pay

6 people listed

Executive titles in this filing

  • Jeff Congdon (President)

Highest reported compensation

  • Chris Barnett (Executive Dir.): $48,066 total reported compensation

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

Overview

Mission

To combat decay and deterioration of, to preserve and beautify, to stimulate improvement and revitalization and to stimulate and effect the development and redevelopment in the City of Lawrence, Indiana.

What it reported doing in 2020

Assist the City of Lawrence's limited staff in redevelopment planning and activity. Coordinate activities with the City and its Redevelopment Commission. Acquire, maintain, redevelop and dispose of property to eliminate blight, improve property values and increase the City's tax base.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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. Fundraising costs are high for each dollar raised and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 77
  • Transparency & Controls: 90
  • Accountability: 90
  • Sustainability: 15
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 60%; rating input score 60
  • Fundraising efficiency: $0.27 raised per $1 spent on fundraising; rating input score 10; 10th percentile among comparable filings

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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -287.4%; rating input score 11; 11th percentile among comparable filings
  • Total-asset coverage ratio: 1.32; rating input score 24; 24th percentile among comparable filings
  • Liabilities to assets ratio: 0.13; rating input score 19; 19th percentile among comparable filings
  • Officer compensation ratio: 56.1%; rating input score 6; 6th percentile among comparable filings

Growth

  • Program expense growth: -1.3% per year; rating input score 0; 60th percentile among comparable filings
  • Revenue growth: Limited
  • Asset growth: -16.5% per year; rating input score 0; 9th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 60% of spending went to programs
  • Governance: 7 of 7 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $51K in reported program spending
  • Leadership: top reported pay $48K · 6 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 7 filing years from 2010 to 2020
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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: Fundraising efficiency scored 10/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Operating margin scored 11/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Total-asset coverage ratio scored 24/100.
  • High — Sustainability: Officer compensation ratio scored 6/100.
  • High — Sustainability: Liabilities to assets ratio scored 19/100.