Tri-city Peoples Corporation
Nonprofit profile at a glance
- EIN
- 222303647
- IRS 990 coverage
- 2012–2022
- Forms available
- Form 990 2022
- Location
- Newark, NJ, USA
- Phone
- 9736754484
- Rating
- 71
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Community Service Clubs
Reported finances
- Revenue
- $593,373
- Expenses
- $585,660
- Assets
- $914,455
- Liabilities
- $1,677,402
Source: IRS Form 990. Selected filing: tax year 2022. Amounts in USD.
Leadership & pay
3 people listed
Executive titles in this filing
- Toni L Caldwell (Executive Director/CEO and Board Secretary)
Highest reported compensation
- Toni L Caldwell (Executive Director/CEO and Board Secretary): $25,000 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2022. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
As a community development corporation and as a HUD-approved housing counseling agency, Tri-City Peoples Corporation provides comprehensive direct and referral services to children and families to address the diverse needs of the continually changing communities that we serve. The organization's present programs focus on early childhood development and comprehensive housing counseling activities/services for first-time homebuyers, foreclosure prevention, rental counseling, landlord counseling, homeless counseling, etc.
What it reported doing in 2022
Early childhood development wherein we provide full-time, year-round child care services to VA and other federal employees at a discount as well as to the general public. Many families receive subsidized childcare through the State's eChildCare vendor. Our child care operation was continued to be adversely impacted by the COVID pandemic wherein enrollment was less than 50% of licensed capacity. Nevertheless, high quality child development services were provided to enrolled students throughout 2022 notwithstanding the ongoing and increasing operational challenges. Dedicated staff maintained high level of reliable attendance throughout the year to insure quality service delivery to our students and our partnership with the parents.
Operating model
- Revenue model
- Other-operating. 92% of the money available for current operations came from other operating revenue.
- 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 - 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: 71
- Transparency & Controls: 90
- Accountability: 65
- Sustainability: 43
- Growth: 0
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 78.5%; rating input score 79
- Program expense ratio: 79.6%; rating input score 80
- Fundraising efficiency: Limited
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: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 66.7%; rating input score 67; 13th percentile among comparable filings
- Governance controls: 5 of 8 controls in place; rating input score 62
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Fail
- 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: 1.3%; rating input score 41; 41st percentile among comparable filings
- Total-asset coverage ratio: 1.56; rating input score 56; 56th percentile among comparable filings
- Liabilities to assets ratio: 1.83; rating input score 2; 2nd percentile among comparable filings
- Officer compensation ratio: 4.3%; rating input score 56; 56th percentile among comparable filings
Growth
- Program expense growth: -30.3% per year; rating input score 0; 2nd percentile among comparable filings
- Revenue growth: -20.7% per year; rating input score 0; 1st percentile among comparable filings
- Asset growth: -14.1% per year; rating input score 0; 2nd percentile among comparable filings
Details
- Where the money goes: 78.5% of revenue deployed · 79.6% of spending went to programs
- Governance: 2 of 3 board members independent · 5 of 8 filing controls reported
- Programs: 3 filed program accomplishments · $466K in reported program spending
- Leadership: top reported pay $25K · 3 people listed
- Consistency: 41 of 42 current checks pass · 1 finding to review
- Schedules: 3 filed schedules
- Filing history: 5 filing years from 2012 to 2022
- 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.
- Review — Accountability: Governance controls: 2 of 7 not reported.
- High — Growth: Program expense growth scored 0/100.
- High — Growth: Revenue growth scored 0/100.
- Moderate — Sustainability: Operating margin scored 41/100.
- High — Growth: Asset growth scored 0/100.
- Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
- Review — Sustainability: Total-asset coverage ratio scored 56/100.
- High — Sustainability: Liabilities to assets ratio scored 2/100.
- Review — Sustainability: Officer compensation ratio scored 56/100.