Crotona Estates Housing Development Fund Company Inc

Nonprofit profile at a glance

EIN
132709826
IRS 990 coverage
2015–2022
Forms available
Form 990 2022
Location
New York, NY, USA
Phone
2125630310
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$3,038,815
Expenses
$2,834,304
Assets
$5,592,318
Liabilities
$9,924,682

Source: IRS Form 990. Selected filing: tax year 2022. Amounts in USD.

Leadership & pay

9 people listed

Executive titles in this filing

  • PAUL MOORE (PRESIDENT)

Highest reported compensation

  • NESTOR OLIVIER (CFO): $124,500 total reported compensation
  • PAUL MOORE (PRESIDENT): $112,507 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2022. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide clean, affordable housing to low-income residents in the bronx, ny.

Operating model

Revenue model
Earned-program. 100% 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

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: 77
  • Transparency & Controls: 90
  • Accountability: 65
  • Sustainability: 54
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 83.9%; rating input score 84
  • Program expense ratio: 90%; rating input score 90
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 87.5%; rating input score 88; 18th percentile among comparable filings
  • Governance controls: 3 of 9 controls in place; rating input score 33
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 6.7%; rating input score 55; 55th percentile among comparable filings
  • Total-asset coverage ratio: 1.97; rating input score 62; 62nd percentile among comparable filings
  • Liabilities to assets ratio: 1.77; rating input score 2; 2nd percentile among comparable filings
  • Officer compensation ratio: 0.4%; rating input score 82; 82nd percentile among comparable filings

Growth

  • Program expense growth: 8.5% per year; rating input score 100; 61st percentile among comparable filings
  • Revenue growth: 6% per year; rating input score 100; 52nd percentile among comparable filings
  • Asset growth: -4.4% per year; rating input score 0; 5th percentile among comparable filings

Details

  • Where the money goes: 83.9% of revenue deployed · 90% of spending went to programs
  • Governance: 7 of 8 board members independent · 3 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $2.6M in reported program spending
  • Leadership: top reported pay $124K · 9 people listed
  • Consistency: 21 of 21 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 8 filing years from 2015 to 2022
  • Contacts: How to reach this organization
  • Related organizations: 13 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.

  • Moderate — Accountability: Governance controls: 5 of 8 not reported.
  • Review — Sustainability: Operating margin scored 55/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 2/100.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.