101-105 South Eighth Street Apartments Housing Development Fund Corporation
Nonprofit profile at a glance
- EIN
- 262418821
- IRS 990 coverage
- 2015–2024
- Forms available
- Form 990 2024
- Location
- Brooklyn, NY, USA
- Phone
- 7187226150
- Rating
- 60
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
Reported finances
- Revenue
- $357,705
- Expenses
- $322,371
- Assets
- $4,435,199
- Liabilities
- $2,529,947
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
10 people listed
Executive titles in this filing
- JEANNE M DIULIO (PRESIDENT)
- MARY HURSON (VICE PRESIDENT)
- REV MSGR ALFRED P LOPINTO (CEO)
- VERY REV PATRICK KEATING (DEPUTY CEO)
Highest reported compensation
- CHRISTINE D'OTTAVIO (CFO): $325,584 total reported compensation
- MARY HURSON (VICE PRESIDENT): $231,378 total reported compensation
- DESIREE A JACKSON-FRYSON (SECRETARY): $226,655 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To acquire, rehabilitate, manage and maintain a low-income housing project.
What it reported doing in 2024
Operates a 25 unit rental property that provided housing to low income persons and their families.
Operating model
- Revenue model
- Other-operating. 81% of the money available for current operations came from other operating revenue.
- 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. A relatively small share of voting board members are independent and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.
Rating breakdown
- Financial Efficiency: 76
- Transparency & Controls: 64
- Accountability: 28
- Sustainability: 57
- Growth: 40
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 84.3%; rating input score 84
- Program expense ratio: 89.4%; rating input score 89
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 64th 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: Limited
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 0%; rating input score 0; 7th percentile among comparable filings
- Governance controls: 6 of 9 controls in place; rating input score 67
- 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: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 9.9%; rating input score 60; 60th percentile among comparable filings
- Total-asset coverage ratio: 13.76; rating input score 92; 92nd percentile among comparable filings
- Liabilities to assets ratio: 0.57; rating input score 10; 10th percentile among comparable filings
- Officer compensation ratio: 91.2%; rating input score 1; 1st percentile among comparable filings
Growth
- Program expense growth: -2.2% per year; rating input score 0; 23rd percentile among comparable filings
- Revenue growth: 2.1% per year; rating input score 100; 35th percentile among comparable filings
- Asset growth: -0% per year; rating input score 0; 24th percentile among comparable filings
Details
- Where the money goes: 84.3% of revenue deployed · 89.4% of spending went to programs
- Governance: 0 of 7 board members independent · 6 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $288K in reported program spending
- Leadership: top reported pay $326K · 10 people listed · 0 of 6 pay-setting controls reported
- Consistency: 25 of 25 current checks pass
- Schedules: 5 filed schedules · includes executive pay
- Filing history: 10 filing years from 2015 to 2024
- Contacts: How to reach this organization
- Related organizations: 84 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 — Accountability: Independent voting board scored 0/100.
- High — Transparency & Controls: Pay-setting controls scored 0/100.
- Review — Accountability: Governance controls: 3 of 9 not reported.
- High — Growth: Program expense growth scored 0/100.
- High — Growth: Asset growth scored 0/100.
- High — Sustainability: Officer compensation ratio scored 1/100.
- High — Sustainability: Liabilities to assets ratio scored 10/100.