330 East 4Th Street Housing Development Fund Corporation

Nonprofit profile at a glance

EIN
133562768
IRS 990 coverage
2016–2024
Forms available
Form 990 2024
Location
New York, NY, USA
Phone
2128035700
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Housing, Shelter N.E.C.

Official website

Reported finances

Revenue
$39,497
Expenses
$260,551
Assets
$1,981,760
Liabilities
$3,971,576

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

Highest reported compensation

  • LAWRENCE ROSENBLATT (VICE PRESIDENT): $496,746 total reported compensation

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

Overview

Mission

Permanently houses formerly homeless elderly persons who participate in case management, crisis intervention, nutritional and recreational services in NYC and the surrounding areas.

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. 98% 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: 22
  • Growth: 100

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: 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: 100%; rating input score 100; 64th 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: -559.7%; rating input score 7; 7th percentile among comparable filings
  • Total-asset coverage ratio: 7.61; rating input score 57; 57th percentile among comparable filings
  • Liabilities to assets ratio: 2; rating input score 3; 3rd percentile among comparable filings
  • Officer compensation ratio: 31.1%; rating input score 10; 10th percentile among comparable filings

Growth

  • Program expense growth: 8.9% per year; rating input score 100; 74th percentile among comparable filings
  • Revenue growth: 24.4% per year; rating input score 100; 95th percentile among comparable filings
  • Asset growth: 5.2% per year; rating input score 100; 67th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 6 of 6 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $261K in reported program spending
  • Leadership: top reported pay $497K · 7 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 17 of 17 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 9 filing years from 2016 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.
  • High — Sustainability: Operating margin scored 7/100.
  • Review — Sustainability: Total-asset coverage ratio scored 57/100.
  • High — Sustainability: Liabilities to assets ratio scored 3/100.
  • High — Sustainability: Officer compensation ratio scored 10/100.