Nhs Redevelopment Corporation

Nonprofit profile at a glance

EIN
363014600
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Chicago, IL, USA
Phone
7738950750
Rating
63
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Low-Income & Subsidized Rental Housing

Official website

Reported finances

Revenue
$1,601,307
Expenses
$768,733
Assets
$6,347,302
Liabilities
$5,289,050

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • ADRIENNE WHITNEY (VICE PRESIDENT)
  • ANTHONY SIMPKINS (CHIEF EXECUTIVE OFFICER)

Highest reported compensation

  • ANTHONY SIMPKINS (CHIEF EXECUTIVE OFFICER): $238,561 total reported compensation
  • DONNA CLARKE (CHIEF OPERATING OFFICER): $167,662 total reported compensation
  • TOM SAKOS (CHIEF FINANCIAL OFFICER): $161,108 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Nhsrc, through its affiliation with its parent organization, neighborhood housing services of chicago (nhs), strengthens neighborhoods and provides high-quality, affordable housing opportunities for low- and moderate-income families by redeveloping and preserving distressed properties throughout the city of chicago. Nhsrc buys, rehabilitates and sells single-family homes, and works with the housing court to stabilize distressed properties in order to improve neighborhood safety and increase the availability of high-quality, affordable housing in targeted neighborhoods.

What it reported doing in 2024

Nhsrc develops and preserves single-family housing. As a non-profit developer and partner, nhsrc has helped create and develop more than 425 units of affordable rental housing for senior citizens living in the roseland, south chicago, and wrightwood neighborhoods. Nhsrc secures vacant properties to be later used in its effort to stabilize neighborhoods by rehabbing homes and affordably selling them to homeowner-occupants.

Operating model

Revenue model
Earned-program. 70% of the money available for current operations came from fees and other program revenue.
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 - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 45
  • Transparency & Controls: 70
  • Accountability: 100
  • Sustainability: 77
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 32.9%; rating input score 33
  • Program expense ratio: 81.3%; rating input score 81
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • 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: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 52%; rating input score 93; 93rd percentile among comparable filings
  • Total-asset coverage ratio: 8.26; rating input score 90; 90th percentile among comparable filings
  • Liabilities to assets ratio: 0.83; rating input score 8; 8th percentile among comparable filings
  • Officer compensation ratio: 7%; rating input score 47; 47th percentile among comparable filings

Growth

  • Program expense growth: -8.8% per year; rating input score 0; 5th percentile among comparable filings
  • Revenue growth: -2% per year; rating input score 0; 9th percentile among comparable filings
  • Asset growth: -0.8% per year; rating input score 0; 15th percentile among comparable filings

Details

  • Where the money goes: 32.9% of revenue deployed · 81.3% of spending went to programs
  • Governance: 5 of 5 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $625K in reported program spending
  • Leadership: top reported pay $239K · 10 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $179K reported
  • Consistency: 25 of 25 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 11 filed related-organization links
  • 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 — Financial Efficiency: Mission deployment rate scored 33/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 8/100.
  • Moderate — Sustainability: Officer compensation ratio scored 47/100.