Commonwealth Housing Development Corp

Nonprofit profile at a glance

EIN
232624826
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Philadelphia, PA, USA
Phone
2155727300
Rating
56
Verdict
MIXED
Rating confidence
Moderate
Sector
Housing Support

Reported finances

Revenue
$318,723
Expenses
$55,516
Assets
$1,755,696
Liabilities
$670,368

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

Leadership & pay

5 people listed

Executive titles in this filing

  • Adena Herskovitz (President)

People named in this filing

  • Cathy Carr (Treasurer)
  • Joyce Miller (Director)
  • Jacquie Sims (Secretary)

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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Provide housing for low income persons, charitable nonprofit organizations and community development activities.

What it reported doing in 2024

Provide housing for charitable nonprofit organizations

Operating model

Revenue model
Earned-program. 93% 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 - 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 a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 7
  • Transparency & Controls: 90
  • Accountability: 100
  • Sustainability: 84
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 2.6%; rating input score 3
  • Program expense ratio: 16.1%; rating input score 16
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 7 controls in place; rating input score 100
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 82.6%; rating input score 98; 98th percentile among comparable filings
  • Total-asset coverage ratio: 31.63; rating input score 97; 97th percentile among comparable filings
  • Liabilities to assets ratio: 0.38; rating input score 13; 13th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -7.3% per year; rating input score 0; 14th percentile among comparable filings
  • Revenue growth: 8.5% per year; rating input score 100; 67th percentile among comparable filings
  • Asset growth: -1.2% per year; rating input score 0; 20th percentile among comparable filings

Details

  • Where the money goes: 2.6% of revenue deployed · 16.1% of spending went to programs
  • Governance: 5 of 5 board members independent · 7 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $9K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 18 of 18 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • 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.

  • High — Financial Efficiency: Mission deployment rate scored 3/100.
  • High — Financial Efficiency: Program expense ratio scored 16/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 13/100.