Village Capital Corporation

Nonprofit profile at a glance

EIN
341704488
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Cleveland, OH, USA
Phone
2168302770
Rating
81
Verdict
STRONG
Rating confidence
Standard
Sector
Community, Neighborhood Development

Official website

Reported finances

Revenue
$1,961,610
Expenses
$1,450,280
Assets
$23,698,729
Liabilities
$15,490,473

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

Leadership & pay

15 people listed

Executive titles in this filing

  • DIONE ALEXANDER (PRESIDENT)

Highest reported compensation

  • TANIA MENESSE (VICE CHAIRMAN): $247,167 total reported compensation
  • DIONE ALEXANDER (PRESIDENT): $162,864 total reported compensation
  • MELODIE SANDERS (FORMER CFO): $116,329 total reported compensation

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

Overview

Mission

Investing in the revitalization of northeast Ohio's underserved communities through commercial lending mainly in the city of cleveland and the development of minority contractors.

What it reported doing in 2024

Village capital corporation (vcc) builds and strengthens underserved neighborhoods in northeast Ohio by providing capital to strategic real estate development projects that serve as a catalyst for revitalization. Our loans capital is deployed to projects that: eliminate blight, provide quality housing and commercial assets, create jobs, foster economic diversity and inclusion, and promote positive social outcomes for residents.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Hybrid. The nonprofit split its reported program spending across 78% for direct work, and 22% for grants.

The verdict

STRONG - 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 liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 76
  • Transparency & Controls: 83
  • Accountability: 86
  • Sustainability: 75
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 70.2%; rating input score 70
  • Program expense ratio: 86.3%; rating input score 86
  • Fundraising efficiency: $48.65 raised per $1 spent on fundraising; rating input score 77; 77th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 22nd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • 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: 91.6%; rating input score 92; 39th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 92.3%; rating input score 92; 24th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: 26.1%; rating input score 82; 82nd percentile among comparable filings
  • Total-asset coverage ratio: 16.34; rating input score 95; 95th percentile among comparable filings
  • Liabilities to assets ratio: 0.65; rating input score 12; 12th percentile among comparable filings
  • Officer compensation ratio: 2.4%; rating input score 58; 58th percentile among comparable filings

Growth

  • Program expense growth: 1.2% per year; rating input score 100; 22nd percentile among comparable filings
  • Revenue growth: 0.7% per year; rating input score 100; 18th percentile among comparable filings
  • Asset growth: 2.4% per year; rating input score 100; 27th percentile among comparable filings

Details

  • Where the money goes: 70.2% of revenue deployed · 86.3% of spending went to programs
  • Governance: 12 of 13 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1.3M in reported program spending
  • Leadership: top reported pay $247K · 15 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 31 of 32 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: 12 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.

  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 12/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Review — Sustainability: Officer compensation ratio scored 58/100.