Nueva Esperanza Housing and Economic Development Corporation

Nonprofit profile at a glance

EIN
232952060
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Philadelphia, PA, USA
Phone
2153240746
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$1,260,774
Expenses
$1,159,738
Assets
$5,846,979
Liabilities
$4,267,032

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

Leadership & pay

7 people listed

Highest reported compensation

  • REV DANNY CORTES (BOARD TREASURER): $274,293 total reported compensation
  • WALTER TOLIVER (BOARD MEMBER): $216,655 total reported compensation

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

Overview

Mission

Nueva esperanza housing and economic development corporation ("nehed") is a non-profit corporation serving the hispanic community of north philadelphia. The primary purpose of the organization is the improvement of the physical, economic, and social environment of the target area bounded by roosevelt boulevard, 9th street, erie avenue, and front street in philadelphia, pa by addressing the needs of low-income persons, including housing for lower income persons and activities on a not-for-profit and charitable basis. Nehed's mission is to transform hunting park into a destination and a model neighborhood by empowering its people and fostering community engagement, economic and physical development, and education.

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. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 78
  • Transparency & Controls: 65
  • Accountability: 78
  • Sustainability: 60
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 84.8%; rating input score 85
  • Program expense ratio: 92.2%; rating input score 92
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 71.4%; rating input score 71; 15th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Limited
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 8%; rating input score 57; 57th percentile among comparable filings
  • Total-asset coverage ratio: 5.04; rating input score 85; 85th percentile among comparable filings
  • Liabilities to assets ratio: 0.73; rating input score 10; 10th percentile among comparable filings
  • Officer compensation ratio: 3.4%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: 6.3% per year; rating input score 100; 48th percentile among comparable filings
  • Revenue growth: 8.9% per year; rating input score 100; 62nd percentile among comparable filings
  • Asset growth: 10.8% per year; rating input score 100; 61st percentile among comparable filings

Details

  • Where the money goes: 84.8% of revenue deployed · 92.2% of spending went to programs
  • Governance: 5 of 7 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1.1M in reported program spending
  • Leadership: top reported pay $274K · 7 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 30 of 30 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 15 filing years from 2010 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.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • Review — Sustainability: Operating margin scored 57/100.
  • High — Sustainability: Liabilities to assets ratio scored 10/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.