Bremond King Davis Housing Development Fund Company Inc
Nonprofit profile at a glance
- EIN
- 473791580
- IRS 990 coverage
- 2022–2022
- Forms available
- Form 990 2022
- Location
- New York, NY, USA
- Phone
- 2129642288
- Rating
- 60
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
Reported finances
- Revenue
- $958,111
- Expenses
- $1,702,268
- Assets
- $4,629,539
- Liabilities
- $5,988,361
Source: IRS Form 990. Selected filing: tax year 2022. Amounts in USD.
Leadership & pay
5 people listed
Executive titles in this filing
- JENNIFER SUN (CO-EXECUTIVE DIRECTOR (OUTGOING))
- THOMAS YU (EXECUTIVE DIRECTOR)
Highest reported compensation
- THOMAS YU (EXECUTIVE DIRECTOR): $321,349 total reported compensation
- JENNIFER SUN (CO-EXECUTIVE DIRECTOR (OUTGOING)): $200,749 total reported compensation
- NELSON CHAN (TREASURER): $186,723 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2022. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The corporation was established for the purposes of developing and operating, on a non-profit basis, a housing project for persons of low income in New York city where no adequate housing exists for such persons.
What it reported doing in 2022
Operates a low-income housing building.
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 the filed numbers largely add up. A relatively small share of voting board members are independent and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.
Rating breakdown
- Financial Efficiency: 86
- Transparency & Controls: 60
- Accountability: 32
- Sustainability: 27
- Growth: NotEnoughData
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 92.4%; rating input score 92
- 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: 0%; rating input score 0; 4th 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: -77.7%; rating input score 2; 2nd percentile among comparable filings
- Total-asset coverage ratio: 2.72; rating input score 73; 73rd percentile among comparable filings
- Liabilities to assets ratio: 1.29; rating input score 3; 3rd percentile among comparable filings
- Officer compensation ratio: 9.5%; rating input score 38; 38th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: Limited
- Asset growth: Limited
Details
- Where the money goes: 100% of revenue deployed · 92.4% of spending went to programs
- Governance: 0 of 3 board members independent · 7 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $1.6M in reported program spending
- Leadership: top reported pay $321K · 5 people listed · 0 of 6 pay-setting controls reported
- Consistency: 28 of 28 current checks pass
- Schedules: 5 filed schedules · includes executive pay
- Contacts: How to reach this organization
- Related organizations: 30 filed related-organization links
- 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 — Accountability: Independent voting board scored 0/100.
- High — Transparency & Controls: Pay-setting controls scored 0/100.
- High — Sustainability: Operating margin scored 2/100.
- Review — Accountability: Governance controls: 2 of 9 not reported.
- High — Sustainability: Liabilities to assets ratio scored 3/100.
- Moderate — Sustainability: Officer compensation ratio scored 38/100.