Voras Enterprise Inc

Nonprofit profile at a glance

EIN
461127108
IRS 990 coverage
2012–2019
Forms available
Form 990 2019
Location
Brooklyn, NY, USA
Rating
38
Verdict
REVIEW
Rating confidence
Moderate
Sector
Community, Neighborhood Development

Reported finances

Revenue
$7,422,038
Expenses
$2,323,912
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2019. Amounts in USD.

Leadership & pay

3 people listed

Highest reported compensation

  • JEFFERY E DUNSTON (CHAIRPERSON): $297,231 total reported compensation
  • NATHAN MONTGOMERY (BOARD MEMBER - SECRETARY): $175,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2019. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide community development services within the bedford stuyvesant area of brooklyn.

What it reported doing in 2019

To provide facilities to various organizations that provide services to the community.

Operating model

Revenue model
Other-operating. 97% of the money available for current operations came from other operating revenue.
Distribution model
Grant intermediary. The nonprofit sent 68% of its reported program spending out as grants.

The verdict

REVIEW - Program spending has grown recently. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 13
  • Transparency & Controls: 54
  • Accountability: 45
  • Sustainability: 46
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 8.3%; rating input score 8
  • Program expense ratio: 26.6%; rating input score 27
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 6th 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: 35.5%; rating input score 35; 13th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 33.3%; rating input score 33; 6th percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 68.7%; rating input score 97; 97th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: 4.4% per year; rating input score 100; 48th percentile among comparable filings
  • Revenue growth: 55.9% per year; rating input score 100; 98th percentile among comparable filings
  • Asset growth: 1.3% per year; rating input score 100; 27th percentile among comparable filings

Details

  • Where the money goes: 8.3% of revenue deployed · 26.6% of spending went to programs
  • Governance: 1 of 3 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $618K in reported program spending
  • Leadership: top reported pay $297K · 3 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 17 of 18 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes grants and executive pay
  • Filing history: 8 filing years from 2012 to 2019
  • 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.

  • High — Financial Efficiency: Mission deployment rate scored 8/100.
  • High — Financial Efficiency: Program expense ratio scored 27/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Accountability: Independent voting board scored 33/100.
  • Moderate — Transparency & Controls: Grant itemization coverage scored 35/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.