Antwerp Housing Development Fund Coinc

Nonprofit profile at a glance

EIN
161314291
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Antwerp, NY, USA
Phone
3156598203
Rating
81
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$257,452
Expenses
$278,602
Assets
$402,368
Liabilities
$964,247

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

Leadership & pay

4 people listed

Executive titles in this filing

  • DAVID CHESTER (VICE PRESIDENT/TREASURER)
  • RONALD HAYMOND (PRESIDENT)

People named in this filing

  • DAVID CHESTER (VICE PRESIDENT/TREASURER)
  • RONALD HAYMOND (PRESIDENT)
  • JULIE FARR (SECRETARY)

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

Elderly/hadicapped housing project

What it reported doing in 2024

Operation of rental housing suited for the special needs of the elderly over the age of sixty-two and the hadicapped of all ages, meeting low to moderate income guidelines.

Operating model

Revenue model
Earned-program. 90% 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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 72
  • Transparency & Controls: 92
  • Accountability: 94
  • Sustainability: 35
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 83%; rating input score 83
  • Program expense ratio: 76.9%; rating input score 77
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 7 controls in place; rating input score 86
    • 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: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -8.2%; rating input score 25; 25th percentile among comparable filings
  • Total-asset coverage ratio: 1.44; rating input score 51; 51st percentile among comparable filings
  • Liabilities to assets ratio: 2.4; rating input score 2; 2nd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 0.8% per year; rating input score 100; 34th percentile among comparable filings
  • Revenue growth: 1.4% per year; rating input score 100; 31st percentile among comparable filings
  • Asset growth: -4.5% per year; rating input score 0; 11th percentile among comparable filings

Details

  • Where the money goes: 83% of revenue deployed · 76.9% of spending went to programs
  • Governance: 4 of 4 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $214K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 25 of 25 current checks pass
  • Schedules: 3 filed schedules · includes major donors
  • Filing history: 15 filing years from 2010 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.

  • High — Sustainability: Operating margin scored 25/100.
  • Review — Accountability: Governance controls: Audit committee oversight not reported.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Total-asset coverage ratio scored 51/100.
  • High — Sustainability: Liabilities to assets ratio scored 2/100.