Ujamaa Economic Development Corporation

Nonprofit profile at a glance

EIN
825254066
IRS 990 coverage
2019–2024
Forms available
Form 990 2024, Form 990-EZ 2020
Location
New Orleans, LA, USA
Phone
5042581389
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Community Improvement, Capacity Building N.E.C.

Official website

Reported finances

Revenue
$606,229
Expenses
$813,399
Assets
$681,549
Liabilities
$46,438

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

11 people listed

Executive titles in this filing

  • Nyree Ramsey (Executive Director)

Highest reported compensation

  • Nyree Ramsey (Executive Director): $95,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The Ujamaa Economic Development Corporation was organized with a mission of equitable redevelopment of the Claiborne Corridor and adjacent communities, and with a commitment by the organization's leadership to ensure the resident-led initiatives of cultural preservation, economic opportunity, housing affordability, environmental sustainability, and safe and healthy neighborhoods for this historic Claiborne community.

What it reported doing in 2024

To ensure the resident-led initiatives of cultural preservation, economic opportunity, housing affordability, environmental sustainability, and safe and healthy neighborhoods for this historic Claiborne community.

Operating model

Revenue model
Donor-supported. 87% 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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 81
  • Transparency & Controls: 92
  • Accountability: 90
  • Sustainability: 23
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 75%; rating input score 75
  • 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: 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 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • 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: -34.2%; rating input score 5; 5th percentile among comparable filings
  • Total-asset coverage ratio: 0.84; rating input score 37; 37th percentile among comparable filings
  • Liabilities to assets ratio: 0.07; rating input score 48; 48th percentile among comparable filings
  • Officer compensation ratio: 11.7%; rating input score 31; 31st percentile among comparable filings

Growth

  • Program expense growth: 27.4% per year; rating input score 100; 89th percentile among comparable filings
  • Revenue growth: 18% per year; rating input score 100; 83rd percentile among comparable filings
  • Asset growth: 26.2% per year; rating input score 100; 88th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 75% of spending went to programs
  • Governance: 11 of 11 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $610K in reported program spending
  • Leadership: top reported pay $95K · 11 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 3 filed schedules · includes major donors
  • Filing history: 4 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • 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 — Sustainability: Operating margin scored 5/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 37/100.
  • Moderate — Sustainability: Officer compensation ratio scored 31/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 48/100.