The Nh District Corporation

Nonprofit profile at a glance

EIN
823634127
IRS 990 coverage
2018–2020
Forms available
Form 990 2020
Location
Richmond, VA, USA
Phone
8042212006
Rating confidence
Limited
Sector
Economic Development

Reported finances

Revenue
$0
Expenses
$20,793
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.

Leadership & pay

1 person listed

Executive titles in this filing

  • MARTIN J BARRINGTON (PRESIDENT, SECRETARY, TREA)

People named in this filing

  • MARTIN J BARRINGTON (PRESIDENT, SECRETARY, TREA)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2020. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Revitalization and economic redevelopment of approximately 10 city blocks in downtown richmond, consisting of approximately 21 acres of publicly-owned property.

What it reported doing in 2020

In cooperation with the city, oversee a proposed public/private initiative for (i) replacing the current richmond coliseum, a large, publicly-owned arena located in the city that serves as a venue for concerts, sporting events and other large-audience events, with a new state-of-the art arena, (ii) renovating and repurposing the publicly-owned blues armory, an aging brick armory which was listed on the national register of historic places on may 17,1976, as a music venue and downtown food market, (iii) redeveloping the surrounding areas. The city council determined not to approve and proceed with the initiative; accordingly the organization is terminating its operations.

Operating model

Revenue model
No positive adjusted resources. The filing reports no positive adjusted operating resources.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: 25
  • Transparency & Controls: 93
  • Accountability: 76
  • Sustainability: 8
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: 32.5%; rating input score 33
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • 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: Limited
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 61; 61st percentile among comparable filings

Growth

  • Program expense growth: -76.4% per year; rating input score 0; 4th percentile among comparable filings
  • Revenue growth: -8.1% per year; rating input score 0; 41st percentile among comparable filings
  • Asset growth: -120% per year; rating input score 0; 1st percentile among comparable filings

Details

  • Where the money goes: 32.5% of spending went to programs
  • Governance: 7 of 7 board members independent · 3 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $7K in reported program spending
  • Leadership: top reported pay $0 · 1 people listed
  • Consistency: 13 of 13 current checks pass
  • Schedules: 4 filed schedules · includes grants
  • Filing history: 3 filing years from 2018 to 2020
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Financial Efficiency: Program expense ratio scored 33/100.
  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.