18 West 103 Street Housing Development Fund Corporation

Nonprofit profile at a glance

EIN
133172412
IRS 990 coverage
2024–2024
Forms available
Form 990 2024, Form 990-EZ 2023
Location
New York, NY, USA
Phone
2126784410
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Low-Income & Subsidized Rental Housing

Reported finances

Revenue
$206,819
Expenses
$211,591
Assets
$255,097
Liabilities
$43,048

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

Leadership & pay

3 people listed

Executive titles in this filing

  • JOHN P DUFFELL (President)

Highest reported compensation

  • ROBIN P BAEZ (VP/ SECRETARY): $135,250 total reported compensation

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

Overview

Mission

To provide adequate low-income housing to residents of the manhattan valley region of manhattan, New York.

Operating model

Revenue model
Earned-program. 100% 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. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and assets have declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 85
  • Transparency & Controls: 60
  • Accountability: 76
  • Sustainability: 36
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 95.9%; rating input score 96
  • Program expense ratio: 93.8%; rating input score 94
  • 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: 66.7%; rating input score 67; 18th percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • 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: 1.21; rating input score 46; 46th percentile among comparable filings
  • Liabilities to assets ratio: 0.17; rating input score 21; 21st percentile among comparable filings
  • Officer compensation ratio: 2.3%; rating input score 35; 35th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 5% per year; rating input score 100; 52nd percentile among comparable filings
  • Asset growth: -13.9% per year; rating input score 0; 4th percentile among comparable filings

Details

  • Where the money goes: 95.9% of revenue deployed · 93.8% of spending went to programs
  • Governance: 2 of 3 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $198K in reported program spending
  • Leadership: top reported pay $135K · 3 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 20 of 20 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Contacts: How to reach this organization
  • Related organizations: 2 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.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 34/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 46/100.
  • High — Sustainability: Liabilities to assets ratio scored 21/100.
  • Moderate — Sustainability: Officer compensation ratio scored 35/100.