Red Hook Community Business Alliance

Nonprofit profile at a glance

EIN
881472299
IRS 990 coverage
2024–2024
Forms available
Form 990 2024, Form 990-N 2023
Location
Brooklyn, NY, USA
Phone
9176483734
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Economic Development

Reported finances

Revenue
$234,426
Expenses
$224,661
Assets
$104,567
Liabilities
$94,511

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

Leadership & pay

11 people listed

Executive titles in this filing

  • CARLY BAKER-RICE (EXECUTIVE DIRECTOR)

Highest reported compensation

  • CARLY BAKER-RICE (EXECUTIVE DIRECTOR): $10,395 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 ensure the vitality of red hook and the preservation of one of nyc's most dynamic and unique waterfront neighborhoods. We work to build a resilient and vibrant red hook neighborhood by sharing resources, building connections, advocating for improved conditions, increasing utilization of red hook's many talents and assets, and producing and marketing events that showcase all that red hook has to offer.

What it reported doing in 2024

Our programs include:(a) building community local economies;(b) promoting and advocating for the interests of the community of red hook, brooklyn;(c) hosting educational workshops in human resources and business matters for residents of red hook, brooklyn;(d) creating a hiring network of local residents seeking employment; and(e) hosting community events such as clean-ups and pop-ups and plantings.

Operating model

Revenue model
Grant-funded. 90% 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 - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 73
  • Transparency & Controls: 92
  • Accountability: 79
  • Sustainability: 34
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 80.7%; rating input score 81
  • Program expense ratio: 84.2%; rating input score 84
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • 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; 63rd percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 4.2%; rating input score 49; 49th percentile among comparable filings
  • Total-asset coverage ratio: 0.47; rating input score 23; 23rd percentile among comparable filings
  • Liabilities to assets ratio: 0.9; rating input score 6; 6th percentile among comparable filings
  • Officer compensation ratio: 4.6%; rating input score 33; 33rd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 80.7% of revenue deployed · 84.2% of spending went to programs
  • Governance: 10 of 10 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $189K in reported program spending
  • Leadership: top reported pay $10K · 11 people listed
  • Consistency: 23 of 23 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • 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.

  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • Moderate — Sustainability: Operating margin scored 49/100.
  • High — Sustainability: Total-asset coverage ratio scored 23/100.
  • High — Sustainability: Liabilities to assets ratio scored 6/100.
  • Moderate — Sustainability: Officer compensation ratio scored 33/100.