176 South Eighth Street Apt Hsg Dev Fund
Nonprofit profile at a glance
- EIN
- 262418657
- IRS 990 coverage
- 2015–2024
- Forms available
- Form 990 2024
- Location
- Brooklyn, NY, USA
- Phone
- 7187226150
- Rating
- 65
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
Reported finances
- Revenue
- $322,071
- Expenses
- $334,773
- Assets
- $3,439,903
- Liabilities
- $2,537,678
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
10 people listed
Executive titles in this filing
- JEANNE M DIULIO (PRESIDENT)
- MARY HURSON (VICE PRESIDENT)
- REV MSGR ALFRED P LOPINTO (CEO)
- VERY REV PATRICK KEATING (DEPUTY CEO)
Highest reported compensation
- CHRISTINE D'OTTAVIO (CFO): $325,584 total reported compensation
- MARY HURSON (VICE PRESIDENT): $231,378 total reported compensation
- DESIREE A JACKSON-FRYSON (SECRETARY): $226,655 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
This corporation is organized exclusively for the purpose of acquiring, developing and managing housing projects for persons of low income.
What it reported doing in 2024
Operates rental building for low income persons and their families.
Operating model
- Revenue model
- Other-operating. 92% of the money available for current operations came from other operating revenue.
- Distribution model
- Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.
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: 89
- Transparency & Controls: 60
- Accountability: 28
- Sustainability: 42
- Growth: 80
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 100%; rating input score 100
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 92.9%; rating input score 93; 25th 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; 7th percentile among comparable filings
- Governance controls: 6 of 9 controls in place; rating input score 67
- 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: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -3.9%; rating input score 31; 31st percentile among comparable filings
- Total-asset coverage ratio: 10.28; rating input score 90; 90th percentile among comparable filings
- Liabilities to assets ratio: 0.74; rating input score 7; 7th percentile among comparable filings
- Officer compensation ratio: 87.9%; rating input score 1; 1st percentile among comparable filings
Growth
- Program expense growth: 2.5% per year; rating input score 100; 42nd percentile among comparable filings
- Revenue growth: 0.9% per year; rating input score 100; 28th percentile among comparable filings
- Asset growth: -0.5% per year; rating input score 0; 23rd percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 100% of spending went to programs
- Governance: 0 of 7 board members independent · 6 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $346K in reported program spending
- Leadership: top reported pay $326K · 10 people listed · 0 of 6 pay-setting controls reported
- Consistency: 24 of 25 current checks pass · 1 finding to review
- Schedules: 5 filed schedules · includes executive pay
- Filing history: 10 filing years from 2015 to 2024
- Contacts: How to reach this organization
- Related organizations: 84 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 — Accountability: Independent voting board scored 0/100.
- High — Transparency & Controls: Pay-setting controls scored 0/100.
- Review — Accountability: Governance controls: 3 of 9 not reported.
- Moderate — Sustainability: Operating margin scored 31/100.
- High — Growth: Asset growth scored 0/100.
- Moderate — Transparency & Controls: Series program expenses within total did not reconcile in the filed values.
- High — Sustainability: Officer compensation ratio scored 1/100.
- High — Sustainability: Liabilities to assets ratio scored 7/100.