Clinton Complex Housing Development Fund Corporation

Nonprofit profile at a glance

EIN
133819607
IRS 990 coverage
2010–2021
Forms available
Form 990 2021
Location
Bronx, NY, USA
Phone
7188426440
Rating
35
Verdict
REVIEW
Rating confidence
Moderate
Sector
Low-Income & Subsidized Rental Housing

Reported finances

Revenue
$26,672
Expenses
$2,700
Assets
$878,245
Liabilities
$10,800

Source: IRS Form 990. Selected filing: tax year 2021. Amounts in USD.

Leadership & pay

8 people listed

Highest reported compensation

  • STEVEN SELTZER (EXECUTIVE DI): $153,077 total reported compensation
  • JEAN BONHOMME (CONTROLLER): $111,923 total reported compensation
  • JASON BOROFF (VICE CHAIR): $37,538 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2021. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide safe, clean, affordable housing to low and moderate income families in the south bronx, ny

What it reported doing in 2021

To provide safe, clean, affordable housing to low income families located in the south bronx, New York

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

REVIEW - The filed numbers largely add up and revenue comfortably covers expenses. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 60
  • Accountability: 59
  • Sustainability: 78
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 83.3%; rating input score 83; 25th percentile among comparable filings
  • Governance controls: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • 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: 89.9%; rating input score 98; 98th percentile among comparable filings
  • Total-asset coverage ratio: 325.28; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 29; 29th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: -63.1% per year; rating input score 0; 6th percentile among comparable filings
  • Revenue growth: -21.1% per year; rating input score 0; 21st percentile among comparable filings
  • Asset growth: 2.9% per year; rating input score 100; 58th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 5 of 6 board members independent · 2 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $153K · 8 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 12 of 12 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 9 filing years from 2010 to 2021
  • Contacts: How to reach this organization
  • Related organizations: 37 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 — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Accountability: Governance controls: 5 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 29/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.