Asian-american Housing Development Fund Company Inc

Overview

Mission

To acquire, preserve and operate affordable (rental) housing for low to median income families.

What it reported doing in 2024

Operates 14 low-income housing buildings located in New York, New York.

Operating model

Revenue model
Earned-program. 91% 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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

Nonprofit profile at a glance

EIN
133376278
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Headquarters
New York, NY, USA
Phone
2124772265
Rating
60
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

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: 66
  • Transparency & Controls: 69
  • Accountability: 32
  • Sustainability: 67
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 66.1%; rating input score 66
  • Program expense ratio: 88.7%; rating input score 89
  • 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: 0%; rating input score 0; 3rd 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: 19%; rating input score 76; 76th percentile among comparable filings
  • Total-asset coverage ratio: 6.64; rating input score 87; 87th percentile among comparable filings
  • Liabilities to assets ratio: 0.68; rating input score 14; 14th percentile among comparable filings
  • Officer compensation ratio: 9.1%; rating input score 33; 33rd percentile among comparable filings

Growth

  • Program expense growth: -0.3% per year; rating input score 0; 13th percentile among comparable filings
  • Revenue growth: 2.3% per year; rating input score 100; 22nd percentile among comparable filings
  • Asset growth: 1.4% per year; rating input score 100; 17th percentile among comparable filings

Details

  • Where the money goes: 66.1% of revenue deployed · 88.7% of spending went to programs
  • Governance: 0 of 4 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1.8M in reported program spending
  • Leadership: top reported pay $346K · 5 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 26 of 26 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 13 annual filings from 2011 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 33 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

5 people listed

Highest reported compensation

  • THOMAS YU (PRESIDENT/ED): $345,979 total reported compensation
  • HUI-YUAN NELSON CHAN (TREASURER/MANG. DIR. OF REAL ESTATE): $270,854 total reported compensation
  • HSUEH LAM YAN (SECRETARY/DIR. ASSET &PROPERTY MGMT..): $220,267 total reported compensation

Source: IRS Form 990. Selected filing: FY2024.