One Thousand Corporation

Nonprofit profile at a glance

EIN
060922325
IRS 990 coverage
2009–2016
Forms available
Form 990 2016
Location
Hartford, CT, USA
Phone
8607144690
Rating
46
Verdict
MIXED
Rating confidence
Moderate
Sector
Real Estate Associations

Official website

Reported finances

Revenue
$1,644,562
Expenses
$500,230
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2016. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • Christopher M Dadlez (President)

Highest reported compensation

  • Christopher M Dadlez (President): $2,397,453 total reported compensation
  • david bittner (director): $648,393 total reported compensation
  • r christopher hartley (former director): $447,746 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2016. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To acquire, hold title to, manage and collect income from real property.

What it reported doing in 2016

To engage in activities related to acquiring, holding title to, managing and earning income from real property in order to promote the general health of the metropolitan Hartford community.

Operating model

Revenue model
Earned-program. 100% 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

MIXED - The filed numbers largely add up. A relatively small share of available resources goes toward mission work and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 47
  • Transparency & Controls: 64
  • Accountability: 23
  • Sustainability: 46
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 28.5%; rating input score 28
  • Program expense ratio: 93.7%; rating input score 94
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 4th percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 69.6%; rating input score 97; 97th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 209.5%; rating input score 0; 0th percentile among comparable filings

Growth

  • Program expense growth: -12.3% per year; rating input score 0; 8th percentile among comparable filings
  • Revenue growth: -1.9% per year; rating input score 0; 20th percentile among comparable filings
  • Asset growth: 1% per year; rating input score 100; 36th percentile among comparable filings

Details

  • Where the money goes: 28.5% of revenue deployed · 93.7% of spending went to programs
  • Governance: 0 of 3 board members independent · 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $469K in reported program spending
  • Leadership: top reported pay $2.4M · 5 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 17 of 17 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 8 filing years from 2009 to 2016
  • Contacts: How to reach this organization
  • Related organizations: 342 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 — Financial Efficiency: Mission deployment rate scored 28/100.
  • High — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 4 of 9 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 0/100.