Nfc Development Corp

Nonprofit profile at a glance

EIN
222412369
IRS 990 coverage
2010–2013
Forms available
Form 990 2013
Location
Niagara Falls, NY, USA
Phone
7162864340
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$120,985
Expenses
$185,397
Assets
$1,832,595
Liabilities
$14,321

Source: IRS Form 990. Selected filing: tax year 2013. Amounts in USD.

Leadership & pay

19 people listed

People named in this filing

  • MAYOR PAUL A DYSTER (CHAIRMAN)
  • MS KRISTEN M GRANDINETTI (VICE CHAIRMAN)
  • MR CHARLES WALKER (TREASURER)

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 2013. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The n.f.c. Development corp.'s mission is to foster business, industrial, and employment retention and development in the city of niagara falls, ny.

What it reported doing in 2013

Provide programs to aid the city of niagara falls in attracting new business and industry and encouraging the development or retention of business and industry in the city. Provide programs for promoting employment and business ownership including the instruction or training of individuals to improve or develop their capabilities for such jobs. Develop and maintain relationships with community groups, other non-profit corporations and other local governments to help carry out its mission.

Operating model

Revenue model
Grant-funded. 77% of the money available for current operations came from government grants.
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 filing does not identify recipients for some grant dollars and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 64
  • Accountability: 94
  • Sustainability: 44
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 86.5%; rating input score 86
  • 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: Scored; rating input score 0
  • 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 7 controls in place; rating input score 86
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -53.2%; rating input score 4; 4th percentile among comparable filings
  • Total-asset coverage ratio: 9.88; rating input score 89; 89th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 61; 61st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 73; 73rd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -30.2% per year; rating input score 0; 5th percentile among comparable filings
  • Asset growth: -18.1% per year; rating input score 0; 9th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 86.5% of spending went to programs
  • Governance: 19 of 19 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $160K in reported program spending
  • Leadership: top reported pay $0 · 19 people listed
  • Consistency: 18 of 18 current checks pass
  • Schedules: 3 filed schedules · includes grants
  • Filing history: 4 filing years from 2010 to 2013
  • Contacts: How to reach this organization
  • 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 — Transparency & Controls: Grant itemization coverage scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 4/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Accountability: Governance controls: Audit committee oversight not reported.