Neighborhood Risk Management Corp
Nonprofit profile at a glance
- EIN
- 202555863
- IRS 990 coverage
- 2009–2021
- Forms available
- Form 990 2021
- Location
- New York, NY, USA
- Phone
- 2125096762
- Rating
- 77
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Homeowners & Tenants Associations
Reported finances
- Revenue
- $124
- Expenses
- $1,546,242
- Assets
- $0
- Liabilities
- $0
Source: IRS Form 990. Selected filing: tax year 2021. Amounts in USD.
Leadership & pay
4 people listed
Executive titles in this filing
- TIM THORLAND (VICE PRESIDENT)
- JIM FERRIS (PRESIDENT)
People named in this filing
- TIM THORLAND (VICE PRESIDENT)
- FRED LAZARE (SECRETARY)
- JIM FERRIS (PRESIDENT)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990. Selected filing: tax year 2021. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Nrmc was established to provide risk reduction and loss mitigation services and educational programs to its members so that they in turn can learn to reduce their loss-related expenses and devote more of their limited resources to their affordable housing missions. Nrmc also advises its members on insurance and alternative risk coverages. Nrmc assists members in obtaining such alternative coverages with third-party insurance companies with broader coverages and at a lower cost than is generally available in the marketplace, and facilitates the establishment of loss control and risk management programs which will minimize losses and costs of members in the fulfillment of their charitable missions.
What it reported doing in 2021
Nrmc provides risk management training and loss mitigation programs for members and prospective members, including members of neighborworks america ("nwa"). These trainings focus on topics such as reliable inspection systems, fire safety, claim mitigation and prevention, property-vendor contract forms and agreements and effective property maintenance. Nrmc has developed risk management classes and a website to distribute best practices in risk management and risk management tools. Training and risk mitigation programs and loss mitigation initiatives are provided to nrmc members by the staff of nrmc and also by outside professionals, including insurance brokers, risk management consultants and safety experts.
Operating model
- Revenue model
- Investment-supported. 100% of the money available for current operations came from recurring investment income.
- Distribution model
- Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 88
- Transparency & Controls: 86
- Accountability: 76
- Sustainability: 8
- Growth: 0
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 97.6%; rating input score 98
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 90.9%; rating input score 91; 18th percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: 95.4%; rating input score 95; 60th percentile among comparable filings
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
- Governance controls: 3 of 7 controls in place; rating input score 43
- Conflict-of-interest policy: Fail
- Whistleblower policy: Pass
- Document-retention policy: Fail
- CEO compensation review process: NotApplicable
- 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: -1,246,869.4%; rating input score 0; 0th percentile among comparable filings
- Total-asset coverage ratio: 0; rating input score 3; 3rd percentile among comparable filings
- Liabilities to assets ratio: Limited
- Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings
Growth
- Program expense growth: -36.3% per year; rating input score 0; 13th percentile among comparable filings
- Revenue growth: -22% per year; rating input score 0; 20th percentile among comparable filings
- Asset growth: -10.3% per year; rating input score 0; 14th percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 97.6% of spending went to programs
- Governance: 4 of 4 board members independent · 3 of 7 filing controls reported
- Programs: 1 filed program accomplishment · $1.5M in reported program spending
- Leadership: top reported pay $0 · 4 people listed
- Consistency: 16 of 17 current checks pass · 1 finding to review
- Schedules: 5 filed schedules · includes grants
- Filing history: 12 filing years from 2009 to 2021
- Contacts: How to reach this organization
- Money network: 17 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.
- Moderate — Accountability: Governance controls: 3 of 6 not reported.
- High — Sustainability: Operating margin scored 0/100.
- High — Growth: Program expense growth scored 0/100.
- High — Growth: Revenue growth scored 0/100.
- High — Sustainability: Total-asset coverage ratio scored 3/100.
- Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
- High — Growth: Asset growth scored 0/100.