138-50 QB Housing Development Fund Corporation

Nonprofit profile at a glance

EIN
863233365
IRS 990 coverage
2021–2024
Forms available
Form 990 2024
Location
Yonkers, NY, USA
Phone
9143452800
Rating
67
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Homeless Centers

Official website

Reported finances

Revenue
$2,050,066
Expenses
$1,879,880
Assets
$34,230,304
Liabilities
$33,966,417

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

3 people listed

Highest reported compensation

  • Richard Nightingale (Director): $534,607 total reported compensation
  • James Coughlin (Director): $418,027 total reported compensation
  • Andrew Germansky (Director): $386,008 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Operation of real property located at 138-50 queens boulevard, queens, New York, into transitional housing for homeless adults.

Operating model

Revenue model
Earned-program. 99% 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.

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: 83
  • Transparency & Controls: 60
  • Accountability: 42
  • Sustainability: 60
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 90.4%; rating input score 90
  • Program expense ratio: 99.4%; rating input score 99
  • 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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 3rd percentile among comparable filings
  • Governance controls: 8 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: Limited
    • 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: 18.21; rating input score 95; 95th percentile among comparable filings
  • Liabilities to assets ratio: 0.99; rating input score 5; 5th percentile among comparable filings
  • Officer compensation ratio: 8.6%; rating input score 35; 35th percentile among comparable filings

Growth

  • Program expense growth: 83% per year; rating input score 100; 99th percentile among comparable filings
  • Revenue growth: 83.7% per year; rating input score 100; 99th percentile among comparable filings
  • Asset growth: -2.4% per year; rating input score 0; 7th percentile among comparable filings

Details

  • Where the money goes: 90.4% of revenue deployed · 99.4% of spending went to programs
  • Governance: 0 of 3 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1.9M in reported program spending
  • Leadership: top reported pay $535K · 3 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 18 of 18 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 4 filing years from 2021 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

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.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Operating margin scored 59/100.
  • High — Sustainability: Liabilities to assets ratio scored 5/100.
  • Moderate — Sustainability: Officer compensation ratio scored 35/100.