Riverside Plaza Tenants Association

Nonprofit profile at a glance

EIN
363506886
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
Minneapolis, MN, USA
Phone
6123760619
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Adult, Continuing Education

Official website

Reported finances

Revenue
$709,839
Expenses
$835,179
Assets
$63,080
Liabilities
$238,069

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

Leadership & pay

7 people listed

Executive titles in this filing

  • WELI HASSAN (EXECUTIVE DIRECTOR)

Highest reported compensation

  • WELI HASSAN (EXECUTIVE DIRECTOR): $79,615 total reported compensation

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

Overview

Mission

Our mission is to create a cohesive and empowered community by embracing and advancing our residents' economic, educational, and social well-being, particularly those living in the riverside plaza.

What it reported doing in 2024

Youthbuild: youthbuild is to help struggling high school students obtain their diploma and/or ged while also training them for high-demand, living-wage careers. Through work readiness training and credentialed pre-apprenticeship training, while building affordable housing, youthbuild offers employers young workers vetted for their work ethic, maturity, safety practices, and occupational skills. In addition, the youthbuild plus component offers youth credentialed training in health care, advanced manufacturing, automotive, it, and arborist tree care. Youthbuild also offers system-involved youth intensive one-on-one guidance, support, and mentoring to transform their personal and work lives.

Operating model

Revenue model
Grant-funded. 72% 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

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 total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 73
  • Transparency & Controls: 92
  • Accountability: 90
  • Sustainability: 11
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 86.5%; rating input score 87
  • Program expense ratio: 73.6%; rating input score 74
  • 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: 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: 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: 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: -17.7%; rating input score 11; 11th percentile among comparable filings
  • Total-asset coverage ratio: 0.08; rating input score 4; 4th percentile among comparable filings
  • Liabilities to assets ratio: 3.77; rating input score 1; 1st percentile among comparable filings
  • Officer compensation ratio: 9.5%; rating input score 38; 38th percentile among comparable filings

Growth

  • Program expense growth: 1.2% per year; rating input score 100; 23rd percentile among comparable filings
  • Revenue growth: 2% per year; rating input score 100; 25th percentile among comparable filings
  • Asset growth: 4.5% per year; rating input score 100; 36th percentile among comparable filings

Details

  • Where the money goes: 86.5% of revenue deployed · 73.6% of spending went to programs
  • Governance: 5 of 5 board members independent · 6 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $614K in reported program spending
  • Leadership: top reported pay $80K · 7 people listed
  • Consistency: 28 of 28 current checks pass
  • Schedules: 6 filed schedules · includes major donors
  • Filing history: 11 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 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.
  • 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.

  • High — Sustainability: Operating margin scored 11/100.
  • High — Sustainability: Total-asset coverage ratio scored 4/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Liabilities to assets ratio scored 1/100.
  • Moderate — Sustainability: Officer compensation ratio scored 38/100.