Chatham Housing & Development Corp

What it reported doing in 2013

In 2011 the Organization began implementing environmental testing services, including testing for lead and asbestos, for area residences in an effort to promote safe and affordable housing for qualified veterans and their families. In addition, the Organization also provided management services for its affordable housing project in the Josana Neighborhood. Chatham, through its own offices as a housing management, services and development company, maintains a list of qualified persons, specifically veterans, in need of housing who inquire for affordable housing. In addition, Chatham housing receives information for veterans in need of housing (Continued on Schedule O)from veteran affairs facilities through their relationship with Carl Gysel (Canandaigua VA) or through other veteran agencies such as Eagle Star Housing (Pembroke, NY), Veterans Outreach Center (Rochester, NY), Warrior Salute (Webster, NY), Rochester Housing Authority's (Rochester, NY-Daniel Sturgis) point in time, housing inventory count and the annual homeless assessment report.Chatham Housing services veterans within Monroe County and Creek House Housing Partnership, LP (Creek House Apartments), as developer/owner of Creek House Apartments, a 240 unit townhouse and apartment affordable community located in Greece, NY (The "Project") have entered into a MOU to refer affordable residents and specifically veterans who are seeking housing or related services. Chatham Housing will include in its referral list, which is readily available to current participants as well as all new applicants' seeking housing, the unit availability of the Creek House apartments, and when requested by those participants/applicants, make referrals to the project.The project agrees to give preference for thirty-six (36) vacant units in the project to those veterans referred by Chatham Housing who are homeless, veterans who are victims of domestic violence, veterans in long-term recovery of alcohol or substance abuse, veterans who are mentally retarded/developmentally disabled, veterans with AIDS/HIV related illness and veterans with physical disabilities/traumatic brain injury or psychiatric disabilities, and to veterans residing in housing which fails to meet basic health and safety standards and who have little prospect of improving the condition of their housing except by residing in the project. In 2013 Chatham applied to become a HUD approved not for profit agency to bid on HUD foreclosed homes at a discount so that they may be rehabilitated and sold for affordable rental or homeownership. In September HUD was finalizing Chatham's application's particulars. Once the process is completed, then HUD management reviews the various aspects of the application and renders a final decision on our agency's application. The Director of the Program Support Division at the PHOC is the authorized signatory and issues the requisite letter that is based on a detailed review of the application's particulars. Presently HUD considers the agency's application as "pending".This program is also supported by contributions.

Financial Efficiency

• Mission deployment rate: 100%; rating input score 100
• Program expense ratio: 78.5%; rating input score 78
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 93.3%; rating input score 93; 24th percentile among comparable filings
• Pay-setting controls: Limited
• Foreign activity oversight: Limited
• Grant itemization coverage: Limited
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 40%; rating input score 40; 14th percentile among comparable filings
• Governance controls: 6 of 9 controls in place; rating input score 67
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Fail
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Missing
  • Independent financial-statement audit: Fail

Sustainability

• Operating margin: -41.2%; rating input score 6; 6th percentile among comparable filings
• Total-asset coverage ratio: 14.68; rating input score 93; 93rd percentile among comparable filings
• Liabilities to assets ratio: 0.38; rating input score 20; 20th percentile among comparable filings
• Officer compensation ratio: 4.9%; rating input score 41; 41st percentile among comparable filings

Growth

• Program expense growth: Limited
• Revenue growth: -74.3% per year; rating input score 0; 1st percentile among comparable filings
• Asset growth: -1% per year; rating input score 0; 37th percentile among comparable filings