Olm Senior Housing Development Fund Corporation
Overview
Mission
The organization's primary purpose is to operate a housing project for elderly or disabled persons of low income, including the provision of housing facilities and services specially designed to meet their physical, social and psychological needs and to promote health, security and happiness.
What it reported doing in 2024
Olm senior housing development fund corporation operates a 51 unit housing project for the elderly or disabled persons of low income, including the provision of housing facilities and services specifically designed to meet their physical, social, and psychological needs to promote their health, security, happiness, and usefulness in longer living.
Operating model
- Revenue model
- Grant-funded. 78% of the money available for current operations came from government grants.
- Distribution model
- Direct operator. The nonprofit carried out 100% of its reported program work directly.
Nonprofit profile at a glance
- EIN
- 133897866
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Headquarters
- New York, NY, USA
- Rating
- 89
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Housing Support
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports that some governance safeguards are missing and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 88
- Transparency & Controls: 100
- Accountability: 88
- Sustainability: 44
- Growth: 80
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 90.3%; rating input score 90
- Program expense ratio: 85.6%; rating input score 86
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd 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
- Public monitoring controls: Limited
- Public policy transparency: Limited
- Public financial transparency: Limited
- Impact reporting controls: Limited
- Public relationship transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 5 of 7 controls in place; rating input score 71
- Public governance controls: Limited
- Zakat policy transparency: Limited
Sustainability
- Operating margin: -5.1%; rating input score 24; 24th percentile among comparable filings
- Operating reserve ratio: 3.35; rating input score 77; 77th percentile among comparable filings
- Liabilities to assets ratio: 1.41; rating input score 3; 3rd percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings
Growth
- Program expense growth: 6.3% per year; rating input score 100; 48th percentile among comparable filings
- Revenue growth: 8.4% per year; rating input score 100; 60th percentile among comparable filings
- Asset growth: -1.5% per year; rating input score 0; 13th percentile among comparable filings
Details
- Where the money goes: 90.3% of revenue deployed · 85.6% of spending went to programs
- Governance: 6 of 6 board members independent · 5 of 7 filing controls reported
- Programs: 1 filed program accomplishment · $954K in reported program spending
- Leadership: top reported pay $0 · 6 people listed
- Highest-paid contractors: 2 contractors listed · $344K reported
- Consistency: 24 of 24 current checks pass
- Schedules: 5 filed schedules · includes major donors
- Filing history: 14 annual filings from 2010 to 2024
- Contacts: How to reach this organization
- Related organizations: 56 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.