Todmorden Foundation
Nonprofit profile at a glance
- EIN
- 383857086
- IRS 990 coverage
- 2024–2024
- Forms available
- Form 990 2024, Form 990-PF 2023
- Location
- Wilmington, DE, USA
- Phone
- 3026556215
- Rating
- 64
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Senior Citizens' Housing/Retirement Communities
Reported finances
- Revenue
- $7,580,400
- Expenses
- $607,980
- Assets
- $31,686,133
- Liabilities
- $5,552,097
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
18 people listed
Executive titles in this filing
- RICHARD PRYZWARA (PRESIDENT & CEO)
- TRACY SURLES (VICE PRESIDENT)
People named in this filing
- MATT LYNCH (CHAIR)
- SHELDON SANDLER (VICE CHAIR & NOMINATING AND GOVERNANCE CHAIR)
- THOMAS WHITE (FINANCE CHAIR)
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 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To promote the stabilization of neighborhoods, the prevention of urban blight, and to develop affordable housing within the city of wilmington.
What it reported doing in 2024
The primary purpose of todmorden is to provide low income housing to qualified residents in the city of wilmington. Low income thresholds are established according to dsha guidelines. We currently serve 221 individuals and families whose income falls between 30% and 60% of the area median income by providing one to three bedroom rental units, all of which fall within the affordable housing criteria.in addition, the todmorden foundation owns the todmorden east foundation, llc. The todmorden east foundation focuses on the development of the redevelopment of housing in the east side of wilmington.
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
SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.
Rating breakdown
- Financial Efficiency: 33
- Transparency & Controls: 92
- Accountability: 94
- Sustainability: 92
- Growth: NotEnoughData
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 5.8%; rating input score 6
- Program expense ratio: 58.1%; rating input score 58
- Fundraising efficiency: $142.29 raised per $1 spent on fundraising; rating input score 90; 90th percentile among comparable filings
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 7 controls in place; rating input score 86
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- Document-retention policy: Pass
- 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: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 92%; rating input score 99; 99th percentile among comparable filings
- Total-asset coverage ratio: 52.12; rating input score 99; 99th percentile among comparable filings
- Liabilities to assets ratio: 0.18; rating input score 47; 47th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: Limited
- Asset growth: Limited
Details
- Where the money goes: 5.8% of revenue deployed · 58.1% of spending went to programs
- Governance: 14 of 14 board members independent · 6 of 7 filing controls reported
- Programs: 1 filed program accomplishment · $353K in reported program spending
- Leadership: top reported pay $0 · 18 people listed
- Consistency: 28 of 28 current checks pass
- Schedules: 4 filed schedules · includes major donors
- 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.
Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.
- High — Financial Efficiency: Mission deployment rate scored 6/100.
- Review — Financial Efficiency: Program expense ratio scored 58/100.
- Review — Accountability: Governance controls: Whistleblower policy not reported.
- Moderate — Sustainability: Liabilities to assets ratio scored 47/100.
- High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.