Boriken Local Development Corporation

Nonprofit profile at a glance

EIN
463167787
IRS 990 coverage
2013–2021
Forms available
Form 990 2021
Location
New York, NY, USA
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Community, Neighborhood Development

Official website

Reported finances

Revenue
$378,550
Expenses
$331,427
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2021. Amounts in USD.

Leadership & pay

7 people listed

Executive titles in this filing

  • Arturo Perez (Chief Executive Officer)

Highest reported compensation

  • Arturo Perez (Chief Executive Officer): $310,139 total reported compensation
  • Ahmed Abedo (Chief Financial Officer): $200,922 total reported compensation
  • Elizabeth Perez (General Counsel): $165,821 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2021. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Boriken Local Development Corporation was formed to develop and own a facility for delivery of social and health care services in the community of East Harlem, New York.

Operating model

Revenue model
Earned-program. 100% 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 the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 64
  • Accountability: 91
  • Sustainability: 26
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 87.6%; rating input score 88
  • 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; 63rd percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: 12.4%; rating input score 54; 54th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 238.8%; rating input score 0; 0th percentile among comparable filings

Growth

  • Program expense growth: 2% per year; rating input score 100; 51st percentile among comparable filings
  • Revenue growth: -23.9% per year; rating input score 0; 3rd percentile among comparable filings
  • Asset growth: -8.2% per year; rating input score 0; 8th percentile among comparable filings

Details

  • Where the money goes: 87.6% of revenue deployed · 100% of spending went to programs
  • Governance: 3 of 3 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $331K in reported program spending
  • Leadership: top reported pay $310K · 7 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 11 of 11 current checks pass
  • Schedules: 6 filed schedules · includes executive pay
  • Filing history: 9 filing years from 2013 to 2021
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • Review — Sustainability: Operating margin scored 54/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 0/100.