Ogontz Avenue Revitalization Corp

What it reported doing in 2024

We take a holistic approach toward community revitalization, by focusing on our four pillars: business & economic development, housing development, community engagement, and greening solutions for sustainable living.1. Business & economic development: oarc's business & economic development and support programs have attracted dozens of new businesses to our area, creating new jobs in the community, generating revenues, and providing new services to the residents here. Our commitment to business and commercial development in northwest philadelphia has resulted in targeting and delivering assistance in the following areas: (cont'd on sch o)- marketing and technical assistance to various business associations in northwest philadelphia; such as the west oak lane business association.- new business entrepreneur programs, seminars, and workshops, co-sponsored by community college "power up" program and goldman sachs 10,000 small business program. These events are designed to help aspiring entrepreneurs and existing business owners grow and improve their skills.- in the past, oarc has completed construction of the ogontz avenue streetscape project. Grants from the city of philadelphia's restore philadelphia corridors program and the state's redevelopment assistance capital program (racp) funded this $2.6 million project. Improvements and upgrades were made to a ten block stretch of ogontz avenue; including sidewalk and crosswalk paving features, roadway curbs, landscaping, benches, and pedestrian lighting. - in june 2010, we acquired the old club jaguar building from the redevelopment authority of philadelphia. Oarc received a $1.2 million racp grant to redevelop the site. Today, it's a thriving commercial space that houses oarc's headquarters and other retail businesses use the facility to develop their business plans. As part of the ogontz avenue facade improvement program and the northwest facade improvement grant program, more than 45 storefronts were upgraded in west oak lane.- storefront marketing assistance program to provide technical assistance to several businesses on ogontz avenue. Oarc will provide individual consultation to business owners for growth, sustainability and profit. In addition to the individual consultations, oarc hosted a series of workshops for businesses interested in improving their displays.2. Housing development: for more than 38 years, we have worked diligently to make our community one of the most livable neighborhoods in northwest philadelphia by working with realtors to sell residential houses and commercial real estate and rental housing owners to provide affordable housing in the community.3. Community engagement: from its inception, oarc has always worked diligently to maintain close relationships with the residents, business owners, and elected officials to advance its' mission of stimulating economic development and improve the quality of life for the residents in west oak lane. By partnering with other organizations (public and private) maintaining an open-door policy and a grass-roots style, oarc has been able to work smarter to accomplish our mission, and deal head-on with the challenges that face the west oak lane community.- we have over the last nine years sponsored 9 neighborhood shredding events, 2 northwest philly spring festivals, 5 economic empowerment business summits and have provided commercial space for community residents to use as polling locations. - we engaged educational programmers urgent 365 to present applying for college seminars, holistic conflict resolutions for west oak lane charter school and martin luther king high school.- we partnered with parkway northwest high school (pnwhs), malcolm jenkins foundation and goalsetter to provide funds to the students of pnwhs to open bank accounts.- we partnered with upper room missionary baptist church to provide weekly fresh foods for the community of west oak lane.4. Greening solutions for sustainable living: we work hard to k

Financial Efficiency

• Mission deployment rate: 42.5%; rating input score 42
• Program expense ratio: 41.1%; rating input score 41
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
• Pay-setting controls: 2 of 6 controls in place; rating input score 33
  • Compensation committee: Pass
  • 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: 75%; rating input score 75; 13th percentile among comparable filings
• Governance controls: 8 of 8 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: NotApplicable
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: -3.4%; rating input score 23; 23rd percentile among comparable filings
• Total-asset coverage ratio: 5.31; rating input score 84; 84th percentile among comparable filings
• Liabilities to assets ratio: 0.42; rating input score 26; 26th percentile among comparable filings
• Officer compensation ratio: 10.6%; rating input score 28; 28th percentile among comparable filings

Growth

• Program expense growth: -0.1% per year; rating input score 0; 13th percentile among comparable filings
• Revenue growth: -10.9% per year; rating input score 0; 2nd percentile among comparable filings
• Asset growth: -1.1% per year; rating input score 0; 9th percentile among comparable filings