Meadow Lane Housing Development Fund Company Inc

Overview

Mission

Meadow lane housing development fund company, inc. ("meadow lane") purpose is to develop, own, and operate, on a nonprofit basis, a housing project for persons of low income, and in particular to provide elderly persons and disabled persons of low income with housing facilities and services specially designed to meet their physical, social and psychological needs, and to promote their health, security, happiness, and usefulness in longer living, the charges for such facilities and services to be predicated upon the prevision, maintenance, and operation hereof on a nonprofit basis.

What it reported doing in 2024

Meadow lane owns and operates a 32-unit senior housing facility for low-income elderly persons in new rochelle, New York, under section 202 of the national housing act.

Operating model

Revenue model
Grant-funded. 69% of the money available for current operations came from government grants.
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.

Nonprofit profile at a glance

EIN
463825709
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
New Rochelle, NY, USA
Phone
9146322804
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Senior Citizens' Housing/Retirement Communities

Reported finances

Revenue
$585,313
Expenses
$762,209
Assets
$6,989,145
Liabilities
$5,788,017

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

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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 65
  • Accountability: 72
  • Sustainability: 33
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 79.8%; rating input score 80
  • 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: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 83.3%; rating input score 83; 19th percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • 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: -30.2%; rating input score 6; 6th percentile among comparable filings
  • Total-asset coverage ratio: 9.17; rating input score 91; 91st percentile among comparable filings
  • Liabilities to assets ratio: 0.83; rating input score 8; 8th percentile among comparable filings
  • Officer compensation ratio: 17.2%; rating input score 19; 19th percentile among comparable filings

Growth

  • Program expense growth: 17.2% per year; rating input score 100; 79th percentile among comparable filings
  • Revenue growth: -3.5% per year; rating input score 0; 7th percentile among comparable filings
  • Asset growth: 5% per year; rating input score 100; 38th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 79.8% of spending went to programs
  • Governance: 5 of 6 board members independent · 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $608K in reported program spending
  • Leadership: top reported pay $1.3M · 7 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 26 of 26 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 11 annual filings from 2013 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 7 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 4 of 9 not reported.
  • High — Sustainability: Operating margin scored 6/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 8/100.
  • High — Sustainability: Officer compensation ratio scored 19/100.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.

Leadership & pay

7 people listed

Highest reported compensation

  • RITA C MABLI (PRESIDENT & CEO): $1,337,211 total reported compensation
  • CHRISTINA L VILLANUEVA (CFO): $403,773 total reported compensation
  • RABIA DE LANDE LONG (DIRECTOR): $4,500 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024.