Broadway Housing Development Fund Co Inc
Nonprofit profile at a glance
- EIN
- 222917994
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- New York, NY, USA
- Phone
- 2125682030
- Rating
- 73
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Housing Development, Construction, Management
Reported finances
- Revenue
- $1,096,231
- Expenses
- $5,885,318
- Assets
- $26,315,107
- Liabilities
- $1,250,445
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
4 people listed
Executive titles in this filing
- CHARLENE MELVILLE (PRESIDENT/CHAIR)
- ALAN WEIL (VICE PRESIDENT)
Highest reported compensation
- CHARLENE MELVILLE (PRESIDENT/CHAIR): $289,078 total reported compensation
- DAVID NATHANSON (TREASURER/SECRETARY): $244,625 total reported compensation
- JAN PETRIGAN (DIRECTOR OF OPERATIONS): $176,738 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 develop, operate and manage housing in New York city for homeless and low income individuals and families.
What it reported doing in 2024
The organization develops, owns and through its not for profit affiliate, broadway housing communities inc. ("bhc"), manages permanent housing for low income and previously homeless individuals, including those with special needs. Bhdfc owns and operates 2 supportive housing projects: the edgecombe, located at 345 edgecombe avenue, New York providing 21 single room occupancy units in a landmarked building; and the delta located at 475 west 145th street comprised of 32 studio and one bedroom apartments.
Operating model
- Revenue model
- Mixed. Its operating money came from several sources; no one source provided a clear majority.
- Distribution model
- Grant intermediary. The nonprofit sent 86% of its reported program spending out as grants.
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 a relatively small share of voting board members are independent.
Rating breakdown
- Financial Efficiency: 89
- Transparency & Controls: 68
- Accountability: 62
- Sustainability: 38
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 98.8%; rating input score 99
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 92.9%; rating input score 93; 19th 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: 100%; rating input score 100; 76th percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: No; rating input score 0
Accountability
- Independent voting board: 50%; rating input score 50; 11th 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: -436.9%; rating input score 0; 0th percentile among comparable filings
- Total-asset coverage ratio: 4.47; rating input score 83; 83rd percentile among comparable filings
- Liabilities to assets ratio: 0.05; rating input score 53; 53rd percentile among comparable filings
- Officer compensation ratio: 1.6%; rating input score 59; 59th percentile among comparable filings
Growth
- Program expense growth: 8.4% per year; rating input score 100; 57th percentile among comparable filings
- Revenue growth: -6.4% per year; rating input score 0; 4th percentile among comparable filings
- Asset growth: 2% per year; rating input score 100; 25th percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 98.8% of spending went to programs
- Governance: 1 of 2 board members independent · 7 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $5.8M in reported program spending
- Leadership: top reported pay $289K · 4 people listed · 0 of 6 pay-setting controls reported
- Consistency: 27 of 28 current checks pass · 1 finding to review
- Schedules: 7 filed schedules · includes major donors, grants, and executive pay
- Filing history: 14 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- Related organizations: 13 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.
- High — Transparency & Controls: Pay-setting controls scored 0/100.
- Review — Accountability: Independent voting board scored 50/100.
- High — Sustainability: Operating margin scored 0/100.
- High — Growth: Revenue growth scored 0/100.
- Review — Accountability: Governance controls: 2 of 9 not reported.
- High — Transparency & Controls: Related-party transparency scored 0/100.
- Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
- Review — Sustainability: Liabilities to assets ratio scored 53/100.
- Review — Sustainability: Officer compensation ratio scored 59/100.