Cephas Housing Development Fund Co Inc

Nonprofit profile at a glance

EIN
133546669
IRS 990 coverage
2010–2017
Forms available
Form 990 2017
Location
Yonkers, NY, USA
Phone
9143452800
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Official website

Reported finances

Revenue
$2,249
Expenses
$867,510
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2017. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

  • Richard Nightingale (PRESIDENT)
  • JAMES COUGHLIN (SENIOR VICE PRESIDENT)

People named in this filing

  • Richard Nightingale (PRESIDENT)
  • Patricia Vitelli (Treasurer)
  • KENNETH BELFER (SECRETARY/TREASURER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2017. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The agency developed and now operates, on a non-profit basis, a housing project for persons of low income in yonkers, New York where no adequate housing exists for such persons. The organization liquidated march 13, 2018.

What it reported doing in 2017

The program provided and managed 15 units of affordable housing for formerly homeless individuals. The organization liquidated march 13, 2018.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 100% 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. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 93
  • Accountability: 30
  • Sustainability: 8
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 99.8%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: Limited
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -38,473.1%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 61; 61st percentile among comparable filings

Growth

  • Program expense growth: 42.6% per year; rating input score 100; 92nd percentile among comparable filings
  • Revenue growth: -7.3% per year; rating input score 0; 41st percentile among comparable filings
  • Asset growth: -14.7% per year; rating input score 0; 14th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 99.8% of spending went to programs
  • Governance: 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $866K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 14 of 14 current checks pass
  • Schedules: 5 filed schedules · includes grants
  • Filing history: 8 filing years from 2010 to 2017
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 2 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.

  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Operating margin scored 1/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • High — Growth: Asset growth scored 0/100.