Cfh 91St East Broadway Housing Development Fund Corporation
Nonprofit profile at a glance
- EIN
- 884124123
- IRS 990 coverage
- 2022–2024
- Forms available
- Form 990 2024
- Location
- New York, NY, USA
- Phone
- 2123664459
- Rating
- 65
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Real Estate Associations
Reported finances
- Revenue
- $4,884,435
- Expenses
- $492,671
- Assets
- $50,209,645
- Liabilities
- $43,221,998
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
9 people listed
Executive titles in this filing
- GEORGE E NASHAK (PRESIDENT & CEO)
Highest reported compensation
- GEORGE E NASHAK (PRESIDENT & CEO): $392,533 total reported compensation
- JONATHAN SANTOS RAMOS (CHIEF PROGRAM OFFICER): $251,172 total reported compensation
- RONALD LAWSON (CHIEF OPERATING OFFICER): $238,867 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Cfh 91 east broadway hdfc will provide shelter, food, and a broad array of social and health care services to men currently living on the streets of nyc, in the subways, or in other places not intended for human habitation. The goal of the program is to stabilize the residents, assess why they became homeless, and assist them to relocate to permanent housing in the community with support services as appropriate.
What it reported doing in 2024
Cfh 91 east broadway hdfc acquired a hotel in lower manhattan and was in the process of renovating the building throughout 2024. Completion of the construction and achievement of the various permits and operating certificates are anticipated by the end of calendar year 2025. Full operations in the building will not commence until 2026.
Operating model
- Revenue model
- Grant-funded. 100% of the money available for current operations came from government grants.
- 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 - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.
Rating breakdown
- Financial Efficiency: 39
- Transparency & Controls: 74
- Accountability: 91
- Sustainability: 79
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 10.1%; rating input score 10
- Program expense ratio: 100%; rating input score 100
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: 1 of 6 controls in place; rating input score 17
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd 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: 89.9%; rating input score 99; 99th percentile among comparable filings
- Total-asset coverage ratio: 101.91; rating input score 99; 99th percentile among comparable filings
- Liabilities to assets ratio: 0.86; rating input score 9; 9th percentile among comparable filings
- Officer compensation ratio: 14.3%; rating input score 20; 20th percentile among comparable filings
Growth
- Program expense growth: 149.1% per year; rating input score 100; 100th percentile among comparable filings
- Revenue growth: 126.9% per year; rating input score 100; 100th percentile among comparable filings
- Asset growth: 10.4% per year; rating input score 100; 60th percentile among comparable filings
Details
- Where the money goes: 10.1% of revenue deployed · 100% of spending went to programs
- Governance: 3 of 3 board members independent · 7 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $493K in reported program spending
- Leadership: top reported pay $393K · 9 people listed · 1 of 6 pay-setting controls reported
- Highest-paid contractors: 1 contractor listed · $1M reported
- Consistency: 26 of 26 current checks pass
- Schedules: 6 filed schedules · includes major donors and executive pay
- Filing history: 3 filing years from 2022 to 2024
- Contacts: How to reach this organization
- Related organizations: 4 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 — Financial Efficiency: Mission deployment rate scored 10/100.
- Review — Accountability: Governance controls: 2 of 9 not reported.
- High — Sustainability: Liabilities to assets ratio scored 9/100.
- High — Sustainability: Officer compensation ratio scored 20/100.