University Circle New Markets Inc

Nonprofit profile at a glance

EIN
264360361
IRS 990 coverage
2011–2020
Forms available
Form 990 2020
Location
Cleveland, OH, USA
Phone
2167913900
Rating confidence
Limited
Sector
University or Technological Institute

Reported finances

Revenue
$0
Expenses
$57,054
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.

Leadership & pay

11 people listed

Executive titles in this filing

  • CHRISTOPHER RONAYNE (PRESIDENT/DIRECTOR)

Highest reported compensation

  • CHRISTOPHER RONAYNE (PRESIDENT/DIRECTOR): $264,289 total reported compensation
  • DEBBIE BERRY (VP OF REAL ESTATE DEVELOPM): $165,154 total reported compensation
  • GREG G DEEGAN (DIRECTOR OF COMMUNITY EDUC): $156,025 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2020. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

University circle new markets, inc. (uc new markets) is a mission-driven not-for-profit community development corporation (cde) dedicated to serving or providing investment capital for low-income communities (lics) or low-income persons in cuyahoga county, Ohio with an emphasis on the greater university circle area. Uc new markets is operated as a supporting organization to university circle incorporated (uci), an Ohio not-for-profit corporation exempt from taxation under section 501(c)(3) of the irc. Founded in 1957, the mission of uci is building a community experience that connects all people with cleveland's center of culture, healing and learning.

What it reported doing in 2020

Ucnm applied to the community development financial institutions fund (cdfi fund) and was awarded a $20,000,000 new market tax credit (nmtc) allocation, which ucnm fully allocated in 2012 to catalytic economic development and neighborhood transformation projects in a manner consistent with its mission.

Operating model

Revenue model
No positive adjusted resources. The filing reports no positive adjusted operating resources.
Distribution model
Grant intermediary. The nonprofit sent 86% of its reported program spending out as grants.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: 75
  • Transparency & Controls: 68
  • Accountability: 74
  • Sustainability: 1
  • Growth: 0

Detailed rating inputs

Financial Efficiency

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

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 85.7%; rating input score 86; 24th percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: Limited
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 192.5%; rating input score 2; 2nd percentile among comparable filings

Growth

  • Program expense growth: -1% per year; rating input score 0; 61st percentile among comparable filings
  • Revenue growth: -14.5% per year; rating input score 0; 28th percentile among comparable filings
  • Asset growth: -8.9% per year; rating input score 0; 15th percentile among comparable filings

Details

  • Where the money goes: 100% of spending went to programs
  • Governance: 6 of 7 board members independent · 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $57K in reported program spending
  • Leadership: top reported pay $264K · 11 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 14 of 14 current checks pass
  • Schedules: 7 filed schedules · includes grants and executive pay
  • Filing history: 10 filing years from 2011 to 2020
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 4 of 9 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 2/100.
  • High — Growth: Asset growth scored 0/100.