Rndc Elysian Inc

Nonprofit profile at a glance

EIN
332883485
IRS 990 coverage
2024–2024
Forms available
Form 990 2024
Location
New Orleans, LA, USA
Phone
5047084370
Rating
60
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$3,168,845
Expenses
$1,305,000
Assets
$13,042,156
Liabilities
$11,178,311

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

Leadership & pay

6 people listed

Executive titles in this filing

  • VORIS VIGEE (PRESIDENT & CEO)
  • VANESSA LEVINE (EXECUTIVE DIRECTOR)

Highest reported compensation

  • MIKE KING (SECRETARY): $868,407 total reported compensation
  • VORIS VIGEE (PRESIDENT & CEO): $410,567 total reported compensation
  • VANESSA LEVINE (EXECUTIVE DIRECTOR): $283,077 total reported compensation

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

Overview

Mission

The mission of the organization is to provide housing related services to low and moderate income families and individuals who are in need of affordable housing options. This includes the ownership, operation, and development of the aforementioned location with (cont'd on sch o) the provision of housing related services on a nonprofit basis.

What it reported doing in 2024

This project was created to provide decent rental housing options in the new orleans area that are affordable to low and moderate income families and individuals.the property consists of two buildings and 150 units. It is run by the organization's sole member the renaissance neighborhood development corporation (rndc), an organization that continues to acquire, own, develop, hold, sell, lease, transfer, exchange, operate, and manage affordable housing projects.

Operating model

Revenue model
Donor-supported. 73% of the money available for current operations came from contributions and gifts.
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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - The filed numbers largely add up and most filed governance safeguards are in place. A relatively small share of available resources goes toward mission work and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 56
  • Transparency & Controls: 65
  • Accountability: 71
  • Sustainability: 73
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 41.3%; rating input score 41
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 50%; rating input score 50; 8th 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: 58.8%; rating input score 94; 94th percentile among comparable filings
  • Total-asset coverage ratio: 9.99; rating input score 91; 91st percentile among comparable filings
  • Liabilities to assets ratio: 0.86; rating input score 9; 9th percentile among comparable filings
  • Officer compensation ratio: 32.6%; rating input score 4; 4th percentile among comparable filings

Growth

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

Details

  • Where the money goes: 41.3% of revenue deployed · 100% of spending went to programs
  • Governance: 2 of 4 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1.3M in reported program spending
  • Leadership: top reported pay $868K · 6 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 26 of 26 current checks pass
  • Schedules: 7 filed schedules · includes major donors and executive pay
  • Contacts: How to reach this organization
  • Related organizations: 7 filed related-organization links
  • 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: Mission deployment rate scored 41/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Independent voting board scored 50/100.
  • High — Sustainability: Officer compensation ratio scored 4/100.
  • High — Sustainability: Liabilities to assets ratio scored 9/100.