Eugene Smilovic Housing Development Fund Corporation
Overview
Mission
Eugene smilovic housing development fund corporation (the "corporation") was organized exclusively for the charitable purpose of developing a senior housing project at 280 east 170th street, bronx, ny.
What it reported doing in 2024
The corporation is a non-profit organization organized under the laws of the state of New York, for the purpose of developing and operating the eugene smilovic arms, a 79-unit project consisting of seventy-eight (78) one bedroom rental units and one (1) manager's unit, located at 280 east 1201h street, New York, New York (the "project").
Operating model
- Revenue model
- Earned-program. 96% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Direct operator. The nonprofit carried out 100% of its reported program work directly.
Nonprofit profile at a glance
- EIN
- 133843955
- IRS 990 coverage
- 2009–2024
- Forms available
- Form 990 2024
- Headquarters
- Bronx, NY, USA
- Rating
- 73
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Senior Citizens' Housing/Retirement Communities
The verdict
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for setting executive pay and the filing reports that some governance safeguards are missing.
Rating breakdown
- Financial Efficiency: 72
- Transparency & Controls: 71
- Accountability: 83
- Sustainability: 51
- Growth: 80
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 70.7%; rating input score 71
- Program expense ratio: 75%; rating input score 75
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 92.3%; rating input score 92; 16th percentile among comparable filings
- Pay-setting controls: 2 of 6 controls in place; rating input score 33
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Limited
- Related-party transparency: Limited
- Public monitoring controls: Limited
- Public policy transparency: Limited
- Public financial transparency: Limited
- Impact reporting controls: Limited
- Public relationship transparency: Limited
Accountability
- Independent voting board: 88.9%; rating input score 89; 22nd percentile among comparable filings
- Governance controls: 6 of 8 controls in place; rating input score 75
- Public governance controls: Limited
- Zakat policy transparency: Limited
Sustainability
- Operating margin: 4%; rating input score 47; 47th percentile among comparable filings
- Operating reserve ratio: 3.14; rating input score 76; 76th percentile among comparable filings
- Liabilities to assets ratio: 1.79; rating input score 2; 2nd percentile among comparable filings
- Officer compensation ratio: Limited
Growth
- Program expense growth: 2.9% per year; rating input score 100; 31st percentile among comparable filings
- Revenue growth: 6.5% per year; rating input score 100; 51st percentile among comparable filings
- Asset growth: -2.2% per year; rating input score 0; 11th percentile among comparable filings
Details
- Where the money goes: 70.7% of revenue deployed · 75% of spending went to programs
- Governance: 8 of 9 board members independent · 6 of 8 filing controls reported
- Programs: 1 filed program accomplishment · $999K in reported program spending
- Leadership: top reported pay $219K · 9 people listed · 2 of 6 pay-setting controls reported
- Consistency: 27 of 28 current checks pass · 1 finding to review
- Schedules: 5 filed schedules · includes executive pay
- Filing history: 16 annual filings from 2009 to 2024
- Contacts: How to reach this organization
- 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.