Ormond Associates Inc

Nonprofit profile at a glance

EIN
262464242
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-N 2008
Location
Mount Holly, NJ, USA
Phone
8564828747
Rating
91
Verdict
STRONG
Rating confidence
Moderate
Sector
Single Organization Support

Reported finances

Revenue
$20,305
Expenses
$27,045
Assets
$847,100
Liabilities
$428,668

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

Leadership & pay

6 people listed

Executive titles in this filing

  • DERRY HOLLAND (PRESIDENT)

Highest reported compensation

  • DERRY HOLLAND (PRESIDENT): $658,621 total reported compensation
  • QINDI SHI (SECRETARY/TREASURER): $428,149 total reported compensation

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

Overview

Mission

Supportive housing for homeless individuals with serious and persistent mental illness and/or chronic substance abuse disorders.

What it reported doing in 2024

To provide supportive housing for homeless individuals with serious and persistent mental health illness and/or chronic substance abuse disorders.

Operating model

Revenue model
Earned-program. 96% 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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 93
  • Accountability: 100
  • Sustainability: 43
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 6 of 6 controls in place; rating input score 100
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th 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: -33.2%; rating input score 34; 34th percentile among comparable filings
  • Total-asset coverage ratio: 31.32; rating input score 87; 87th percentile among comparable filings
  • Liabilities to assets ratio: 0.51; rating input score 10; 10th percentile among comparable filings
  • Officer compensation ratio: 400.9%; rating input score 2; 2nd percentile among comparable filings

Growth

  • Program expense growth: 4% per year; rating input score 100; 63rd percentile among comparable filings
  • Revenue growth: 3.4% per year; rating input score 100; 73rd percentile among comparable filings
  • Asset growth: 4.2% per year; rating input score 100; 63rd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 6 of 6 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $27K in reported program spending
  • Leadership: top reported pay $659K · 6 people listed · 6 of 6 pay-setting controls reported
  • Consistency: 16 of 16 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • 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 — Sustainability: Operating margin scored 34/100.
  • High — Sustainability: Officer compensation ratio scored 2/100.
  • High — Sustainability: Liabilities to assets ratio scored 10/100.