Brocton Housing Development Fund Company Inc

Nonprofit profile at a glance

EIN
222370094
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Buffalo, NY, USA
Phone
7168847791
Rating
56
Verdict
MIXED
Rating confidence
Moderate
Sector
Senior Citizens' Housing/Retirement Communities

Reported finances

Revenue
$416,940
Expenses
$359,923
Assets
$662,811
Liabilities
$1,217,449

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

Leadership & pay

6 people listed

Executive titles in this filing

  • JUDITH SCOTT (BOARD MEMBER/PRESIDENT (TO 6/11/25))
  • BRAD PACKARD (BOARD MEMBER/PRESIDENT (FROM 6/11/25))

Highest reported compensation

  • BRAD PACKARD (BOARD MEMBER/PRESIDENT (FROM 6/11/25)): $169,755 total reported compensation
  • AARON HEJMOWSKI (VP/TREASURER (FROM 6/11/25)): $159,781 total reported compensation
  • BRENDA DECKER (VP/SECRETARY (FROM 6/11/25)): $31,350 total reported compensation

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

Overview

Mission

The company was organized exclusively to develop and operate a 42 unit multi-family apartment complex for low-income persons in brocton, New York.

What it reported doing in 2024

To provide subsidized housing for elderly persons of low income.

Operating model

Revenue model
Earned-program. 94% 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

MIXED - 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: 75
  • Transparency & Controls: 60
  • Accountability: 18
  • Sustainability: 52
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 79.9%; rating input score 80
  • Program expense ratio: 93%; rating input score 93
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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; 7th percentile among comparable filings
  • Governance controls: 4 of 9 controls in place; rating input score 44
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 13.7%; rating input score 66; 66th percentile among comparable filings
  • Total-asset coverage ratio: 1.84; rating input score 57; 57th percentile among comparable filings
  • Liabilities to assets ratio: 1.84; rating input score 2; 2nd percentile among comparable filings
  • Officer compensation ratio: 5.2%; rating input score 33; 33rd percentile among comparable filings

Growth

  • Program expense growth: -0.1% per year; rating input score 0; 30th percentile among comparable filings
  • Revenue growth: 1.8% per year; rating input score 100; 33rd percentile among comparable filings
  • Asset growth: -5.1% per year; rating input score 0; 10th percentile among comparable filings

Details

  • Where the money goes: 79.9% of revenue deployed · 93% of spending went to programs
  • Governance: 0 of 2 board members independent · 4 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $335K in reported program spending
  • Leadership: top reported pay $170K · 6 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 26 of 26 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 13 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 28 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 — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Accountability: Governance controls: 5 of 9 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Total-asset coverage ratio scored 57/100.
  • High — Sustainability: Liabilities to assets ratio scored 2/100.
  • Moderate — Sustainability: Officer compensation ratio scored 33/100.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.