Brc Landing Road 1 Housing Development Fund Corporation

Nonprofit profile at a glance

EIN
473985343
IRS 990 coverage
2017–2024
Forms available
Form 990 2024, Form 990-N 2016
Location
New York, NY, USA
Phone
2128035700
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Official website

Reported finances

Revenue
$1,696,879
Expenses
$1,376,708
Assets
$20,054,180
Liabilities
$16,456,430

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

Leadership & pay

7 people listed

Executive titles in this filing

  • JULIE SALAMON (PRESIDENT)
  • LAWRENCE GRAHAM (VICE PRESIDENT)
  • RICHARD SWANSON (VICE PRESIDENT)
  • LAWRENCE ROSENBLATT (VICE PRESIDENT)

Highest reported compensation

  • LAWRENCE ROSENBLATT (VICE PRESIDENT): $496,246 total reported compensation

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

Overview

Mission

To own, construct, and operate transitional and permanent housing for individuals of low income.

What it reported doing in 2024

Housing services - the organization is a major provider of housing for people with a history of homelessness. It operates units of permanent housing. Residents have signed leases and tenancy rights. These apartments are dedicated for formerly homeless individuals with a history of mental illness and/or substance abuse. Our permanent housing programs are a key resource for graduates from brc safe haven, shelter and transitional housing programs, and often serve as the appropriate next step for housing.

Operating model

Revenue model
Grant-funded. 76% of the money available for current operations came from government grants.
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. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and assets have declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 78
  • Transparency & Controls: 64
  • Accountability: 100
  • Sustainability: 70
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 81.2%; rating input score 81
  • 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: 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: 18.9%; rating input score 75; 75th percentile among comparable filings
  • Total-asset coverage ratio: 14.57; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0.82; rating input score 8; 8th percentile among comparable filings
  • Officer compensation ratio: 5.9%; rating input score 51; 51st percentile among comparable filings

Growth

  • Program expense growth: 5.1% per year; rating input score 100; 43rd percentile among comparable filings
  • Revenue growth: 7.3% per year; rating input score 100; 56th percentile among comparable filings
  • Asset growth: -0.1% per year; rating input score 0; 17th percentile among comparable filings

Details

  • Where the money goes: 81.2% of revenue deployed · 100% of spending went to programs
  • Governance: 6 of 6 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.4M in reported program spending
  • Leadership: top reported pay $496K · 7 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 18 of 18 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 8 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 25 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 8/100.
  • Review — Sustainability: Officer compensation ratio scored 51/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.