62-66 West Tremont Hdfc

Nonprofit profile at a glance

EIN
471391623
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Bronx, NY, USA
Phone
7182952882
Rating confidence
Limited
Sector
Housing Development, Construction, Management

Official website

Reported finances

Revenue
$0
Expenses
$0
Assets
$22,914,491
Liabilities
$22,914,491

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

Leadership & pay

3 people listed

Executive titles in this filing

  • CONSOLATO CICCIU (PRESIDENT)
  • PAUL FRACASSI (VICE PRESIDENT)

People named in this filing

  • CONSOLATO CICCIU (PRESIDENT)
  • CECILIA FERRO (SECRETARY)
  • PAUL FRACASSI (VICE PRESIDENT)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

To provide low income to moderate income housing oppurtunities for the community.

What it reported doing in 2024

Revenues are generated by low to moderate income family subsidized rentals occupying the property, therefore mainly rental income derived from those rentals. The associated expenses represent administrative fees, utilities, repair and maintenance, as well as tax and insurance expenses all necessary components to efficiently operate the premises and abide by regulations. During 2020, the project is still under construction

Operating model

Revenue model
No positive adjusted resources. The filing reports no positive adjusted operating resources.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 89
  • Accountability: 61
  • Sustainability: 1
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 88.9%; rating input score 89; 9th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 33.3%; rating input score 33; 19th percentile among comparable filings
  • Governance controls: 7 of 7 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • 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: Limited
  • Total-asset coverage ratio: Limited
  • Liabilities to assets ratio: 1; rating input score 6; 6th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: 9.3% per year; rating input score 100; 78th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 1 of 3 board members independent · 7 of 7 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 11 of 12 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules
  • Filing history: 4 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • 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.

  • Moderate — Accountability: Independent voting board scored 33/100.
  • High — Sustainability: Liabilities to assets ratio scored 6/100.
  • Moderate — Transparency & Controls: Series filing activity did not reconcile in the filed values.