Turning Point Red Hook Housing Development Fund Corporation

Overview

Mission

To provide housing and supportive services to residents living in low income housing projects at 713-715 henry street, brooklyn.

Operating model

Revenue model
Earned-program. 81% of the money available for current operations came from fees and other program 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.

Nonprofit profile at a glance

EIN
113188658
IRS 990 coverage
2014–2023
Forms available
Form 990 2023, Form 990-EZ 2013
Headquarters
Brooklyn, NY, USA
Phone
7184390077
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Low-Income & Subsidized Rental Housing

Official website

The verdict

SUPPORTED - A large share of available resources goes toward mission work and most voting board members are independent. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 68
  • Transparency & Controls: 65
  • Accountability: 100
  • Sustainability: 57
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 74.2%; rating input score 74
  • Program expense ratio: 82.3%; rating input score 82
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 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: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 8.3%; rating input score 59; 59th percentile among comparable filings
  • Total-asset coverage ratio: 3.38; rating input score 78; 78th percentile among comparable filings
  • Liabilities to assets ratio: 1.51; rating input score 3; 3rd percentile among comparable filings
  • Officer compensation ratio: 6.3%; rating input score 49; 49th percentile among comparable filings

Growth

  • Program expense growth: 1.4% per year; rating input score 100; 26th percentile among comparable filings
  • Revenue growth: 7.4% per year; rating input score 100; 58th percentile among comparable filings
  • Asset growth: 6.2% per year; rating input score 100; 45th percentile among comparable filings

Details

  • Where the money goes: 74.2% of revenue deployed · 82.3% of spending went to programs
  • Governance: 1 of 1 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $382K in reported program spending
  • Leadership: top reported pay $304K · 7 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 23 of 23 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 9 annual filings from 2014 to 2023
  • Contacts: How to reach this organization
  • Related organizations: 3 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.

Leadership & pay

7 people listed

Highest reported compensation

  • JANELLE FARRIS (EXECUTIVE DIRECTOR): $304,247 total reported compensation
  • DMITRIY GOYZMAN (CFO (FORMER)): $197,007 total reported compensation

Source: IRS Form 990. Selected filing: FY2023.