Plaza Central Development Group Inc

Nonprofit profile at a glance

EIN
581539566
IRS 990 coverage
2023–2024
Forms available
Form 990 2024, Form 990-EZ 2022, Form 990-N 2020
Location
Charlotte, NC, USA
Phone
3038090649
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Chambers of Commerce & Business Leagues

Official website

Reported finances

Revenue
$30,525
Expenses
$125,378
Assets
$5,151
Liabilities
$0

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

Leadership & pay

12 people listed

Executive titles in this filing

  • Clifton Castelloe (President)
  • Philip Gussman (Vice President)

Highest reported compensation

  • Jason Michel (Board Member): $13,410 total reported compensation
  • Brandon Rojas (Treasurer): $2,000 total reported compensation

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

Overview

Mission

To support and serve the businesses within our business district and surrounding community

What it reported doing in 2024

Member Meeting: To provide exposure for the community by hosting memeber meedtings

Operating model

Revenue model
Donor-supported. 66% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 42% for direct work, and 58% for grants.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. A relatively small share of total spending goes to programs and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 66
  • Transparency & Controls: 94
  • Accountability: 90
  • Sustainability: 17
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 30.6%; rating input score 31
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 98.7%; rating input score 99; 58th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -310.7%; rating input score 10; 10th percentile among comparable filings
  • Total-asset coverage ratio: 0.04; rating input score 7; 7th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 12.3%; rating input score 15; 15th percentile among comparable filings

Growth

  • Program expense growth: -77.5% per year; rating input score 0; 3rd percentile among comparable filings
  • Revenue growth: 15% per year; rating input score 100; 91st percentile among comparable filings
  • Asset growth: -8.8% per year; rating input score 0; 15th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 30.6% of spending went to programs
  • Governance: 12 of 12 board members independent · 6 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $38K in reported program spending
  • Leadership: top reported pay $13K · 12 people listed
  • Consistency: 18 of 18 current checks pass
  • Schedules: 4 filed schedules · includes major donors and grants
  • Filing history: 2 filing years from 2023 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • 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 — Financial Efficiency: Program expense ratio scored 31/100.
  • High — Sustainability: Operating margin scored 10/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 7/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 15/100.