Aikens Apartments Hdfc

Nonprofit profile at a glance

EIN
113382079
IRS 990 coverage
2012–2023
Forms available
Form 990 2023
Location
Brooklyn, NY, USA
Phone
7184539490
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Low-Income & Subsidized Rental Housing

Reported finances

Revenue
$291,614
Expenses
$375,496
Assets
$250,719
Liabilities
$4,543,880

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

3 people listed

Executive titles in this filing

  • JEFFREY DUNSTON (CEO)

Highest reported compensation

  • JEFFREY DUNSTON (CEO): $298,920 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The corporation is committed to providing affordable housing apartments for families of low income in the central section of brooklyn, New York.

What it reported doing in 2023

To provide residential housing consisting of 21 units to families of low income in the central section of brooklyn, New York.

Operating model

Revenue model
Earned-program. 99% 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 most voting board members are independent. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 66
  • Accountability: 100
  • Sustainability: 14
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 93%; rating input score 93
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • 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; 63rd 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: -28.8%; rating input score 11; 11th percentile among comparable filings
  • Total-asset coverage ratio: 0.67; rating input score 30; 30th percentile among comparable filings
  • Liabilities to assets ratio: 18.12; rating input score 0; 0th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: 2.9% per year; rating input score 100; 46th percentile among comparable filings
  • Revenue growth: 2% per year; rating input score 100; 37th percentile among comparable filings
  • Asset growth: -17% per year; rating input score 0; 4th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 93% of spending went to programs
  • Governance: 3 of 3 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $349K in reported program spending
  • Leadership: top reported pay $299K · 3 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 22 of 22 current checks pass
  • Schedules: 6 filed schedules · includes executive pay
  • Filing history: 11 filing years from 2012 to 2023
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • 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 — Sustainability: Operating margin scored 11/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 30/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 0/100.