Southside Institutions Neighborhood Alliance Inc

Nonprofit profile at a glance

EIN
060993174
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Hartford, CT, USA
Phone
8604931618
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Neighborhood, Block Associations

Official website

Reported finances

Revenue
$2,125,365
Expenses
$2,204,654
Assets
$8,138,204
Liabilities
$1,251,774

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

Leadership & pay

12 people listed

Executive titles in this filing

  • Melvyn Colon (Executive Director)

Highest reported compensation

  • Dean Iaiennaro (Director, Real Estate Deve): $231,270 total reported compensation
  • Melvyn Colon (Executive Director): $207,939 total reported compensation
  • Keith Hedman (Chief Financial Officer): $143,722 total reported compensation

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

Overview

Mission

SINA is a partnership between Connecticut Children's Medical Center, Hartford Hospital and Trinity College that works cooperatively with community stakeholders to restore economic vitality and improve the quality of life for the benefit of people who live, work, visit, study and play in the neighborhoods of South Central Hartford.

What it reported doing in 2024

Educational and other programs directed toward neighborhood residents including the SINA/Ivan Backer Scholarships and other scholarships awarded to local students attending college, the R.E.A.C.H. Recognition, Education, Achievement and Community Health committee annual banquet at which the Neighborhood Service Awards are presented honoring individuals for their efforts in the improvement of the SINA neighborhood, neighborhood safety programs including facilitating the integration of efforts by the security teams at our member institutions and the Hartford Police and neighborhood cleanup events, provide support for school programs such as the Maria C. Sanchez Familty Fun Night and reading programs, employment programs designed to facilitate employment of neighborhood residents at the SINA institutions providing walk to work employment, managed production of murals celebrating Neighborhood Heroes, operated the Broad Street Art Garden providing opportunity for residents to grow their own food and provide attractive space, administered grants to local organizations for contributors

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 99% 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 program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 85
  • Transparency & Controls: 75
  • Accountability: 72
  • Sustainability: 47
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 88.3%; rating input score 88
  • Program expense ratio: 84.9%; rating input score 85
  • Fundraising efficiency: $26.04 raised per $1 spent on fundraising; rating input score 66; 66th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd 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: 3 of 9 controls in place; rating input score 33
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -3.7%; rating input score 22; 22nd percentile among comparable filings
  • Total-asset coverage ratio: 3.69; rating input score 78; 78th percentile among comparable filings
  • Liabilities to assets ratio: 0.15; rating input score 50; 50th percentile among comparable filings
  • Officer compensation ratio: 3.8%; rating input score 63; 63rd percentile among comparable filings

Growth

  • Program expense growth: -26.6% per year; rating input score 0; 1st percentile among comparable filings
  • Revenue growth: -19.3% per year; rating input score 0; 1st percentile among comparable filings
  • Asset growth: 9.2% per year; rating input score 100; 55th percentile among comparable filings

Details

  • Where the money goes: 88.3% of revenue deployed · 84.9% of spending went to programs
  • Governance: 9 of 9 board members independent · 3 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $1.9M in reported program spending
  • Leadership: top reported pay $231K · 12 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 28 of 28 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 4 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: 3 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.

  • Moderate — Accountability: Governance controls: 6 of 9 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 22/100.
  • Review — Sustainability: Liabilities to assets ratio scored 50/100.