Redi Corporation

Nonprofit profile at a glance

EIN
840761658
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Denver, CO, USA
Phone
3038607885
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$1,287,871
Expenses
$580,217
Assets
$8,012,409
Liabilities
$3,041,523

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

Leadership & pay

8 people listed

Executive titles in this filing

  • DAVID MURPHY (FORMER EXECUTIVE DIRECTOR)
  • STEVE HINSON (EXECUTIVE DIRECTOR)
  • TERRY BARNARD (PRESIDENT)
  • SANDRA GOLDHABER (VICE PRESIDENT)

Highest reported compensation

  • DAVID MURPHY (FORMER EXECUTIVE DIRECTOR): $62,891 total reported compensation
  • STEVE HINSON (EXECUTIVE DIRECTOR): $52,500 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 provide affordable housing for the low-income, chronically mentally ill.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Hybrid. The nonprofit split its reported program spending across 80% for direct work, and 20% for grants.

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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 43
  • Transparency & Controls: 94
  • Accountability: 84
  • Sustainability: 76
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 29.3%; rating input score 29
  • Program expense ratio: 81.5%; rating input score 81
  • 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: 100%; rating input score 100; 76th 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; 63rd percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 54.9%; rating input score 93; 93rd percentile among comparable filings
  • Total-asset coverage ratio: 13.81; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0.38; rating input score 20; 20th percentile among comparable filings
  • Officer compensation ratio: 19.9%; rating input score 15; 15th percentile among comparable filings

Growth

  • Program expense growth: 1.3% per year; rating input score 100; 23rd percentile among comparable filings
  • Revenue growth: 12.8% per year; rating input score 100; 74th percentile among comparable filings
  • Asset growth: 7.8% per year; rating input score 100; 51st percentile among comparable filings

Details

  • Where the money goes: 29.3% of revenue deployed · 81.5% of spending went to programs
  • Governance: 6 of 6 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $473K in reported program spending
  • Leadership: top reported pay $63K · 8 people listed
  • Consistency: 27 of 27 current checks pass
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 15 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: 11 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Financial Efficiency: Mission deployment rate scored 29/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Sustainability: Officer compensation ratio scored 15/100.
  • High — Sustainability: Liabilities to assets ratio scored 20/100.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.