Broadway Housing Communities Inc

What it reported doing in 2024

See schedule obhc has developed and currently operates five residential buildings that provide permanent affordable housing and services for nearly 700 children and adults in Washington heights and west harlem, two high quality early childhood centers with the capacity to serve up to 250 children from birth to five and their families, three community art galleries, and a new cultural institution, the sugar hill children's museum of art & storytelling. Reflecting bhc's longstanding commitment to social justice, and with a keen understanding of the multiple causes of generational poverty and homelessness, the sugar hill children's museum of art & storytelling is dedicated to the cognitive and creative development of children ages 3-8 and their families, particularly those growing up in poverty. The museums curatorial and educational programs welcome young children to engage with, learn from, and contribute to the cultural legacy of this community. Bhc's approach to serving very low income and formerly homeless single adults and families is distinctive both for its integrated tenancy inclusive of those with special needs as well as the active engagement of tenants in the management of their own housing. A 24/7 front desk management system in place at each of bhc's five buildings provides around-the-clock security serving as the "eyes and ears" of each building and a platform for community-building. The front desk also provides part-time employment for tenants, many entering or re-entering the job market. Front desk staff develop valuable skills including basic computer and email skills via a building management system which enables real-time communication with administrative staff. Bhc's first five buildings primarily serve single adults. With the 2003 opening of dorothy day apartments, the focus was broadened to include children and families in greatest need. Designed as a comprehensive approach to serving high risk families, the building services include an early childhood program serving 51 resident and neighborhood children, literacy programs for youth and adults, educational advocacy for resident adults and children from k-12 and into college. A community art gallery with a year-round calendar of cultural and civic events including evening and weekend programs celebrates local artists and enriches residents and the wider community. The educational paradigm piloted at dorothy day apartments is replicated at bhc's fifth and most ambitious community revitalization initiative. Known as the sugar hill project, this mixed-use development is located in harlem's sugar hill historic district and provides 124 units of permanent housing affordable to families at the lowest income bands, including 25 units set aside for households exiting the homeless shelter system. Tenancy, like at dorothy day apartments, is integrated and inclusive of those with special needs. Staff are actively engaged with resident adults, children and families, and provides services as needed the sugar hill project includes a licensed early childhood center with the capacity to serve up to 200 children from birth to age five and their families in center- and home-based programs. Graced by floor to ceiling windows, abundant light and indoor and outdoor play space, the early childhood center is located at ground level and adjacent to the sugar hill projects cultural capstone, the sugar hill children's museum of art & storytelling. The inclusion of a cultural institution at sugar hill is a natural extension of our service model which engages families and children in creating vibrant communities. The museum offers 17,000 square feet of exhibition, art making and gathering space and serves a broad audience of building residents, community members, school groups and educators and visitors from near and far.

Financial Efficiency

• Mission deployment rate: 70.1%; rating input score 70
• Program expense ratio: 68.4%; rating input score 68
• Fundraising efficiency: $17.47 raised per $1 spent on fundraising; rating input score 55; 55th percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
• Pay-setting controls: 2 of 6 controls in place; rating input score 33
  • Compensation committee: Missing
  • Independent consultant: Missing
  • Other Form 990s reviewed: Pass
  • Written employment contract: Missing
  • Compensation survey or study: Missing
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Yes; rating input score 100

Accountability

• Independent voting board: 94.1%; rating input score 94; 24th percentile among comparable filings
• Governance controls: 9 of 9 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: Pass
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: -1.3%; rating input score 28; 28th percentile among comparable filings
• Total-asset coverage ratio: 1.54; rating input score 53; 53rd percentile among comparable filings
• Liabilities to assets ratio: 0.28; rating input score 36; 36th percentile among comparable filings
• Officer compensation ratio: 10.9%; rating input score 27; 27th percentile among comparable filings

Growth

• Program expense growth: 4.1% per year; rating input score 100; 34th percentile among comparable filings
• Revenue growth: 4.6% per year; rating input score 100; 38th percentile among comparable filings
• Asset growth: 2.4% per year; rating input score 100; 21st percentile among comparable filings