Washnew Development Corporation

Nonprofit profile at a glance

EIN
311278456
IRS 990 coverage
2019–2019
Forms available
Form 990 2019, Form 990-EZ 2018
Location
Columbus, OH, USA
Phone
6144524184
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$606,714
Expenses
$159,288
Assets
$0
Liabilities
$0

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

Leadership & pay

10 people listed

Executive titles in this filing

  • DANIEL L HUNT (PRESIDENT)
  • FRED BOOKER (VICE-PRESIDENT)
  • CELIA M KENDALL (CEO)

Highest reported compensation

  • CELIA M KENDALL (CEO): $100,595 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 elderly and handicapped persons with housing facilities and services specifically designed to meet their physical, social, and psychological needs, and to promote their health, security, happiness, and usefulness in longer living.

What it reported doing in 2019

Provides housing for elderly and low-income individuals with mobility disabilities. Operates a 20-unit apartment community under section 202 of national housing act of 1959; as amended.

Operating model

Revenue model
Grant-funded. 68% of the money available for current operations came from government grants.
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. Some filing-based governance responses are negative or unanswered and assets have declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 74
  • Transparency & Controls: 92
  • Accountability: 79
  • Sustainability: 53
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 81.5%; rating input score 82
  • Program expense ratio: 86.1%; rating input score 86
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 73.7%; 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: 4.1%; rating input score 59; 59th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 13% per year; rating input score 100; 79th percentile among comparable filings
  • Asset growth: -11.3% per year; rating input score 0; 4th percentile among comparable filings

Details

  • Where the money goes: 81.5% of revenue deployed · 86.1% of spending went to programs
  • Governance: 9 of 9 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $137K in reported program spending
  • Leadership: top reported pay $101K · 10 people listed
  • Consistency: 17 of 17 current checks pass
  • Schedules: 6 filed schedules · includes major donors
  • Contacts: How to reach this organization
  • Related organizations: 15 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: 4 of 8 not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.
  • Review — Sustainability: Officer compensation ratio scored 59/100.