Rebuild Metro Inc

Nonprofit profile at a glance

EIN
232671667
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Baltimore, MD, USA
Phone
4105636220
Rating
75
Verdict
SUPPORTED
Rating confidence
Standard
Sector
Nonprofit Management

Official website

Reported finances

Revenue
$17,324,252
Expenses
$7,183,451
Assets
$66,343,656
Liabilities
$40,668,465

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

Leadership & pay

16 people listed

Executive titles in this filing

  • C SEAN CLOSKEY (PRESIDENT)

Highest reported compensation

  • C SEAN CLOSKEY (PRESIDENT): $191,368 total reported compensation
  • MICHAEL BAINUM (DIRECTOR OF DEVELOPMENT): $152,438 total reported compensation
  • CHARLES METZGER JR (CONTROLLER): $132,168 total reported compensation

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

Overview

Mission

Rbmi seeks to create wealth and opportunity for the communities it serves by making real estate investments that reinforce community assets, revitalize downward markets and create suitable environments for market growth. Its investment process seeks long-term sustainable change and requires effective partnerships with neighborhood organizations, local governments and private developers.

What it reported doing in 2024

Participates in 1) real estate transactions and builds affordable homes to create opportunity for disadvantaged families in suburban locations and 2) community-led redevelopment of distressed urban neighborhoods. Suburban income-restricted housing developments include two projects under development: a 60-unit apartment building in maple shade, nj, and a 58-unit apartment building in saddle brook, nj; and 6 completed projects providing over 550 affordable rental units for families and seniors in nj, de, and md. Rebuild metro's redevelopment of distressed urban areas is focused on baltimore, md. Currently, rebuild metro is advancing the rehabilitation of over 40 historic townhomes for sale in east baltimore and working on the development of 113 affordable rental units. Rebuild also directly manages 160 affordable rental units and is the co-developer and minority partner of 3 affordable apartment buildings which serve 189 low-income families in east baltimore. As part of its urban redevelopment work, rebuild metro is the led developer for the johnston square plan and it has site control over 550 vacant properties, which are being revitalized to create residential development, parks, playgrounds, and other community amenities.

Operating model

Revenue model
Grant-funded. 61% of the money available for current operations came from government grants.
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 - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 53
  • Transparency & Controls: 84
  • Accountability: 100
  • Sustainability: 77
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 32.4%; rating input score 32
  • Program expense ratio: 77.2%; rating input score 77
  • Fundraising efficiency: $89.53 raised per $1 spent on fundraising; rating input score 83; 83rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Missing
    • Independent consultant: Pass
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • 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: 100%; rating input score 100; 66th 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: 58.5%; rating input score 95; 95th percentile among comparable filings
  • Total-asset coverage ratio: 9.24; rating input score 91; 91st percentile among comparable filings
  • Liabilities to assets ratio: 0.61; rating input score 22; 22nd percentile among comparable filings
  • Officer compensation ratio: 8.3%; rating input score 28; 28th percentile among comparable filings

Growth

  • Program expense growth: 1.2% per year; rating input score 100; 15th percentile among comparable filings
  • Revenue growth: 11.4% per year; rating input score 100; 79th percentile among comparable filings
  • Asset growth: 8.2% per year; rating input score 100; 56th percentile among comparable filings

Details

  • Where the money goes: 32.4% of revenue deployed · 77.2% of spending went to programs
  • Governance: 12 of 12 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $5.5M in reported program spending
  • Leadership: top reported pay $191K · 16 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $6.4M reported
  • Consistency: 32 of 32 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 13 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • Related organizations: 39 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Financial Efficiency: Mission deployment rate scored 32/100.
  • High — Sustainability: Liabilities to assets ratio scored 22/100.
  • High — Sustainability: Officer compensation ratio scored 28/100.