The Corprew Ave Foundation Corp
Nonprofit profile at a glance
- EIN
- 881195413
- IRS 990-EZ coverage
- 2022–2022
- Forms available
- Form 990-EZ 2022
- Location
- Virginia Beach, VA, USA
- Phone
- 7576721298
- Rating
- 93
- Verdict
- STRONG
- Rating confidence
- Moderate
Reported finances
- Revenue
- $41,936
- Expenses
- $22,783
- Assets
- $19,153
Source: IRS Form 990-EZ. Selected filing: tax year 2022. Amounts in USD.
Leadership & pay
3 people listed
People named in this filing
- ANGELA HAMEED (DIRECTOR)
- DERRICK PARAMORE (MEMBER)
- LISA ROGER (MEMBER)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990-EZ. Selected filing: tax year 2022. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The purpose of th nonprofit is to host fundraising events to raise money for scholarship for Norfolk State University
What it reported doing in 2022
The organization held a fundraiser to raise funds forNorfolk State University. They raised $55K
Operating model
- Revenue model
- Other-operating. 100% of the money available for current operations came from other operating revenue.
- Distribution model
- Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filed totals do not add up and total assets are small relative to annual expenses; liquid coverage is unknown.
Rating breakdown
- Financial Efficiency: 100
- Transparency & Controls: 100
- Sustainability: 60
- Growth: NotEnoughData
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 100%; rating input score 100
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
Sustainability
- Operating margin: 45.7%; rating input score 89; 89th percentile among comparable filings
- Total-asset coverage ratio: 0.84; rating input score 39; 39th percentile among comparable filings
- Liabilities to assets ratio: Limited
- Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: Limited
- Asset growth: Limited
Details
- Where the money goes: 100% of revenue deployed · 100% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 1 filed program accomplishment · $65K in reported program spending
- Leadership: top reported pay $0 · 3 people listed
- Consistency: 5 of 6 current checks pass · 1 finding to review
- Schedules: 3 filed schedules
- Contacts: How to reach this organization
- 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 — Transparency & Controls: Part III program expenses within total did not reconcile in the filed values.
- Moderate — Sustainability: Total-asset coverage ratio scored 39/100.
- Review — Sustainability: Officer compensation ratio scored 56/100.