Tzedec Economic Development Fund

Nonprofit profile at a glance

EIN
232998551
IRS 990 coverage
2009–2013
Forms available
Form 990 2013
Location
Albertson, NY, USA
Phone
2122132113
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Public, Societal Benefit

Reported finances

Revenue
$117,118
Expenses
$253,706
Assets
$5,695,515
Liabilities
$2,988,286

Source: IRS Form 990. Selected filing: tax year 2013. Amounts in USD.

Leadership & pay

11 people listed

Executive titles in this filing

  • JEFFREY DEKRO (PRESIDENT)

People named in this filing

  • JEFFREY DEKRO (PRESIDENT)
  • ELLEN GOROWITZ (SECRETARY)
  • STEVEN FAHRER (BOARD 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. Selected filing: tax year 2013. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Manage funds for low income development areas

What it reported doing in 2013

Costs associated with the management of funds for low-income development areas

Operating model

Revenue model
Investment-supported. 90% of the money available for current operations came from recurring investment income.
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

STRONG - The filed numbers largely add up and a large share of available resources goes toward mission work. A relatively small share of total spending goes to programs and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 73
  • Transparency & Controls: 100
  • Accountability: 100
  • Sustainability: 39
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 52.9%; rating input score 53
  • 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 7 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • 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: -116.6%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 22.45; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 0.52; rating input score 15; 15th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 73; 73rd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -15.2% per year; rating input score 0; 11th percentile among comparable filings
  • Asset growth: -4.9% per year; rating input score 0; 23rd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 52.9% of spending went to programs
  • Governance: 11 of 11 board members independent · 7 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $134K in reported program spending
  • Leadership: top reported pay $0 · 11 people listed
  • Consistency: 20 of 20 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 2 filing years from 2009 to 2013
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • 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 — Financial Efficiency: Program expense ratio scored 53/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 1/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 15/100.