Uecdf Corporation C/o Urban Edge Housing Corporation

Nonprofit profile at a glance

EIN
010571960
IRS 990 coverage
2010–2014
Forms available
Form 990 2014, Form 990-EZ 2009
Location
Roxbury, MA, USA
Phone
6175412565
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Business and Industry

Official website

Reported finances

Revenue
$490,727
Expenses
$437,547
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2014. Amounts in USD.

Leadership & pay

29 people listed

Executive titles in this filing

  • CHRYSTAL KORNEGAY (PRESIDENT AND CEO)

Highest reported compensation

  • CHRYSTAL KORNEGAY (PRESIDENT AND CEO): $164,511 total reported compensation
  • JEREMY WILKENING (DIRECTOR OF REAL ESTATE): $122,237 total reported compensation
  • KEVEN SPILLANE JR (ASSET MANAGER): $112,200 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2014. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide investment capital and loans to local businesses and rehabilitation and deleading loans to residential homeowners.

What it reported doing in 2014

Loan program- foreclosure prevention counseling, first time homebuyer and financial fitness classes as well as loan programs to residential homeowners. Provide investment capital and loans to local businesses.

Operating model

Revenue model
Donor-supported. 60% of the money available for current operations came from contributions and gifts.
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. Program spending has declined or grown slowly and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 74
  • Accountability: 100
  • Sustainability: 37
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 89.2%; rating input score 89
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • 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: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 10.8%; rating input score 68; 68th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 7%; rating input score 38; 38th percentile among comparable filings

Growth

  • Program expense growth: -45.8% per year; rating input score 0; 7th percentile among comparable filings
  • Revenue growth: 2.6% per year; rating input score 100; 49th percentile among comparable filings
  • Asset growth: -19.5% per year; rating input score 0; 8th percentile among comparable filings

Details

  • Where the money goes: 89.2% of revenue deployed · 100% of spending went to programs
  • Governance: 24 of 24 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $438K in reported program spending
  • Leadership: top reported pay $165K · 29 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 18 of 18 current checks pass
  • Schedules: 7 filed schedules · includes major donors and executive pay
  • Filing history: 4 filing years from 2010 to 2014
  • Contacts: How to reach this organization
  • Related organizations: 2 filed related-organization links
  • 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.

  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Officer compensation ratio scored 38/100.