139-141 Avenue D Housing Development Fund Corporation

Nonprofit profile at a glance

EIN
812856844
IRS 990 coverage
2017–2024
Forms available
Form 990 2024, Form 990-EZ 2018, Form 990-N 2016
Location
New York, NY, USA
Phone
2128035700
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Official website

Reported finances

Revenue
$484,660
Expenses
$495,991
Assets
$3,671,341
Liabilities
$5,200,137

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

Leadership & pay

7 people listed

Executive titles in this filing

  • JULIE SALAMON (PRESIDENT)
  • LAWRENCE GRAHAM (VICE PRESIDENT)
  • RICHARD SWANSON (VICE PRESIDENT)
  • LAWRENCE ROSENBLATT (VICE PRESIDENT)

Highest reported compensation

  • LAWRENCE ROSENBLATT (VICE PRESIDENT): $496,246 total reported compensation

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

Overview

Mission

Develop and operate a housing project for persons of low income.

What it reported doing in 2024

Housing services - the organization is a major provider of housing for people with a history of homelessness. It operates units of permanent housing. Residents have signed leases and tenancy rights. These apartments are dedicated for formerly homeless individuals with a history of mental illness and/or substance abuse. Our permanent housing programs are a key resource for graduates from brc safe haven, shelter and transitional housing programs, and often serve as the appropriate next step for housing.

Operating model

Revenue model
Other-operating. 95% of the money available for current operations came from other operating 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

STRONG - 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: 89
  • Transparency & Controls: 64
  • Accountability: 100
  • Sustainability: 44
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 99.2%; rating input score 99
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 8 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: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -2.3%; rating input score 34; 34th percentile among comparable filings
  • Total-asset coverage ratio: 7.4; rating input score 86; 86th percentile among comparable filings
  • Liabilities to assets ratio: 1.42; rating input score 3; 3rd percentile among comparable filings
  • Officer compensation ratio: 16.3%; rating input score 23; 23rd percentile among comparable filings

Growth

  • Program expense growth: 13.9% per year; rating input score 100; 77th percentile among comparable filings
  • Revenue growth: 5.1% per year; rating input score 100; 53rd percentile among comparable filings
  • Asset growth: 18.6% per year; rating input score 100; 83rd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 99.2% of spending went to programs
  • Governance: 6 of 6 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $492K in reported program spending
  • Leadership: top reported pay $496K · 7 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 27 of 27 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 7 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 24 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.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Sustainability: Operating margin scored 34/100.
  • High — Sustainability: Liabilities to assets ratio scored 3/100.
  • High — Sustainability: Officer compensation ratio scored 23/100.