Division Housing Corporation

Nonprofit profile at a glance

EIN
453615582
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Brooklyn, NY, USA
Phone
2126928351
Rating
50
Verdict
MIXED
Rating confidence
Moderate
Sector
Low-Income & Subsidized Rental Housing

Reported finances

Revenue
$2,653,009
Expenses
$9,843
Assets
$15,824,747
Liabilities
$108,339

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

Leadership & pay

5 people listed

Executive titles in this filing

  • MONSIGNOR ANTHONY HERNANDEZ (PRESIDENT)

Highest reported compensation

  • MONSIGNOR ANTHONY HERNANDEZ (PRESIDENT): $128,250 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To own, rehabilitate, maintain, and manage, on a nonprofit basis, a municipally-aided housing project in brooklyn, ny, for persons with low income.

What it reported doing in 2024

Through its majority interest in rc plaza associates, llc, the corporation oversees the operation of an apartment complex of 534 residential units (and two commercial spaces), which serves as low-income rental housing.

Operating model

Revenue model
Earned-program. 69% 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: 4
  • Transparency & Controls: 100
  • Accountability: 70
  • Sustainability: 87
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 12.3%; rating input score 12
  • 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: 75%; rating input score 75; 13th percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 99.6%; rating input score 100; 100th percentile among comparable filings
  • Total-asset coverage ratio: 1,607.72; rating input score 100; 100th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 87; 87th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: -71.4% per year; rating input score 0; 0th percentile among comparable filings
  • Revenue growth: -43.3% per year; rating input score 0; 0th percentile among comparable filings
  • Asset growth: -29.5% per year; rating input score 0; 0th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 12.3% of spending went to programs
  • Governance: 3 of 4 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1K in reported program spending
  • Leadership: top reported pay $128K · 5 people listed
  • Consistency: 14 of 14 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 4 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • 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 0/100.
  • High — Financial Efficiency: Program expense ratio scored 12/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.