Dewittsburgh Housing Development Fund Corporation

Nonprofit profile at a glance

EIN
160992023
IRS 990 coverage
2011–2023
Forms available
Form 990 2023
Location
Elmira, NY, USA
Phone
6077323853
Rating
90
Verdict
STRONG
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$2,419,636
Expenses
$2,531,859
Assets
$8,939,373
Liabilities
$107,645

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • DONALD KALEC JR (PRESIDENT)
  • PHILIP CLUNE (VICE PRESIDENT)

People named in this filing

  • NAN MOSS (SECRETARY)
  • DONALD KALEC JR (PRESIDENT)
  • SHIRLEY WILLIAMS (BOARD MEMBER)

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 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Dewittsburgh housing development fund corporation is a not for profit corporation formed to aid in the development of heritage park apartments, a federally subsidized low-income project located in elmira, New York.

What it reported doing in 2023

Operated 212-unit housing project for low income individuals.

Operating model

Revenue model
Grant-funded. 67% 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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 92
  • Accountability: 94
  • Sustainability: 54
  • Growth: 100

Detailed rating inputs

Financial Efficiency

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

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 6 of 7 controls in place; rating input score 86
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • 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: -4.6%; rating input score 22; 22nd percentile among comparable filings
  • Total-asset coverage ratio: 3.53; rating input score 78; 78th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 86; 86th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 92; 92nd percentile among comparable filings

Growth

  • Program expense growth: 13.9% per year; rating input score 100; 75th percentile among comparable filings
  • Revenue growth: 11.1% per year; rating input score 100; 72nd percentile among comparable filings
  • Asset growth: 4.1% per year; rating input score 100; 31st percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 10 of 10 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $2.5M in reported program spending
  • Leadership: top reported pay $0 · 10 people listed
  • Consistency: 27 of 27 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 12 filing years from 2011 to 2023
  • Contacts: How to reach this organization
  • 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 — Sustainability: Operating margin scored 22/100.
  • Review — Accountability: Governance controls: Document-retention policy not reported.