Borough Park Housing Corporation

Nonprofit profile at a glance

EIN
112526244
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Brooklyn, NY, USA
Phone
7184351300
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Low-Income & Subsidized Rental Housing

Reported finances

Revenue
$91,216
Expenses
$242,627
Assets
$461,070
Liabilities
$166,935

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

Leadership & pay

2 people listed

Executive titles in this filing

  • DAVID SINGER (PRESIDENT)

People named in this filing

  • MENACHEM SHAYOVICH (SECY/TREASUR)
  • DAVID SINGER (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 aid in the development, rehabilitation and preservation of local housing and make such housing available to low and moderate income families.

What it reported doing in 2024

Providing services with respect to overseeing the development of multifamily housing for low and moderate income families.

Operating model

Revenue model
Affiliate-supported. 96% of the money available for current operations came from contributions from related organizations.
Distribution model
Grant intermediary. The nonprofit sent 87% of its reported program spending out as grants.

The verdict

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

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 94
  • Accountability: 88
  • Sustainability: 25
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 85.4%; rating input score 85
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • 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: Fail

Sustainability

  • Operating margin: -166%; rating input score 14; 14th percentile among comparable filings
  • Total-asset coverage ratio: 1.9; rating input score 33; 33rd percentile among comparable filings
  • Liabilities to assets ratio: 0.36; rating input score 12; 12th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: -6.4% per year; rating input score 0; 35th percentile among comparable filings
  • Revenue growth: -5.8% per year; rating input score 0; 41st percentile among comparable filings
  • Asset growth: -12.5% per year; rating input score 0; 11th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 85.4% of spending went to programs
  • Governance: 2 of 2 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $207K in reported program spending
  • Leadership: top reported pay $0 · 2 people listed
  • Consistency: 17 of 17 current checks pass
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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.

  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Sustainability: Operating margin scored 14/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 33/100.
  • High — Sustainability: Liabilities to assets ratio scored 12/100.