Erie Regional Housing Development Corpor

Nonprofit profile at a glance

EIN
161559032
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Buffalo, NY, USA
Phone
7168450485
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Official website

Reported finances

Revenue
$3,052,661
Expenses
$1,716,572
Assets
$4,056,414
Liabilities
$576,625

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

Leadership & pay

13 people listed

Executive titles in this filing

  • OSWALDO MESTRE JR (PRESIDENT)
  • MISAEL HERNANDEZ (VICE-PRESIDENT)
  • LUCY CANDELARIO (EXECUTIVE DIRECTOR)

Highest reported compensation

  • LUCY CANDELARIO (EXECUTIVE DIRECTOR): $113,609 total reported compensation
  • SARFRAZ RAZA (DIRECTOR OF FINANCE): $42,580 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 offer innovative educational, social and community building services for children, youth, senior citizens and families in the western New York area.

What it reported doing in 2024

Daycare: at the belle center, we operate from a "cradle to success" model providing our children and their families with the support they need for their children to have success. This all starts here with our early childhood program! We value the children of the families we serve and have put qualified and experienced staff in place to effectively meet their needs. With 95% of faculty and staff being bilingual! Through the child and adult care food program, students receive breakfast, lunch, dinner, and a snack. The center is licensed by the New York state office of child and family services for infants ages 6 weeks 18 months, toddlers ages 19 months 36 months, preschoolers ages 3-4.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 98% 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 - 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 revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 57
  • Transparency & Controls: 90
  • Accountability: 100
  • Sustainability: 72
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 49.4%; rating input score 49
  • Program expense ratio: 87.8%; rating input score 88
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 13th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 43.8%; rating input score 90; 90th percentile among comparable filings
  • Total-asset coverage ratio: 2.36; rating input score 67; 67th percentile among comparable filings
  • Liabilities to assets ratio: 0.14; rating input score 52; 52nd percentile among comparable filings
  • Officer compensation ratio: 9.1%; rating input score 33; 33rd percentile among comparable filings

Growth

  • Program expense growth: 1.7% per year; rating input score 100; 20th percentile among comparable filings
  • Revenue growth: -0.5% per year; rating input score 0; 10th percentile among comparable filings
  • Asset growth: 11.2% per year; rating input score 100; 63rd percentile among comparable filings

Details

  • Where the money goes: 49.4% of revenue deployed · 87.8% of spending went to programs
  • Governance: 11 of 11 board members independent · 9 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $1.5M in reported program spending
  • Leadership: top reported pay $114K · 13 people listed
  • Consistency: 28 of 29 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 49/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Moderate — Sustainability: Officer compensation ratio scored 33/100.
  • Review — Sustainability: Liabilities to assets ratio scored 52/100.