Euclid Hall Housing Development Fund Company Inc

Nonprofit profile at a glance

EIN
133527248
IRS 990 coverage
2012–2024
Forms available
Form 990 2024, Form 990-N 2011
Location
New York, NY, USA
Phone
2127216032
Rating
67
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$3,938,014
Expenses
$4,338,360
Assets
$29,537,961
Liabilities
$23,955,493

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

Leadership & pay

5 people listed

Executive titles in this filing

  • PAUL R FREITAG (VICE PRESIDENT)
  • SHELDON J FINE (PRESIDENT)

Highest reported compensation

  • PAUL R FREITAG (VICE PRESIDENT): $300,806 total reported compensation
  • CLAIRE HILGER (COO/ASSIST SECRETARY): $217,076 total reported compensation
  • DANIEL J DROSIN (ASST. VP/FACILITIES MANAGER (OUTGOING)): $177,696 total reported compensation

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

Overview

Mission

A not-for-profit housing development corporation committed to owningconstructing, rehabilitating, leasing, managing, equipping, maintaining, developing and operating housing for persons of lowincome.

What it reported doing in 2024

A not-for-profit housing development corporation committed to owning, constructing, rehabilitating, leasing, managing, equipping, maintaining, developing, and operating housing for persons of low income.

Operating model

Revenue model
Earned-program. 95% 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. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 60
  • Accountability: 52
  • Sustainability: 41
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 94.9%; rating input score 95
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 33.3%; rating input score 33; 7th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -10.2%; rating input score 13; 13th percentile among comparable filings
  • Total-asset coverage ratio: 6.81; rating input score 87; 87th percentile among comparable filings
  • Liabilities to assets ratio: 0.81; rating input score 10; 10th percentile among comparable filings
  • Officer compensation ratio: 2.6%; rating input score 72; 72nd percentile among comparable filings

Growth

  • Program expense growth: 5% per year; rating input score 100; 40th percentile among comparable filings
  • Revenue growth: -2.9% per year; rating input score 0; 5th percentile among comparable filings
  • Asset growth: -0% per year; rating input score 0; 12th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 94.9% of spending went to programs
  • Governance: 1 of 3 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $4.1M in reported program spending
  • Leadership: top reported pay $301K · 5 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 32 of 32 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 13 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 37 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Accountability: Independent voting board scored 33/100.
  • High — Sustainability: Operating margin scored 13/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 10/100.