Euell Development Limited Dividend Housing Corporation A/k/a Taylor House

Nonprofit profile at a glance

EIN
222952177
IRS 990 coverage
2013–2020
Forms available
Form 990 2020, Form 990-EZ 2012
Location
Newark, NJ, USA
Phone
9736438588
Rating
81
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$62,602
Expenses
$102,459
Assets
$401,650
Liabilities
$519,208

Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.

Leadership & pay

1 person listed

People named in this filing

  • J KENNETH PAGANO (MANAGER)

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 2020. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The purpose of the organization is to operate 9 low-income housing units located in jersey city, New Jersey.

What it reported doing in 2020

Ownership & operation of a nine unit low income housing complex under nj housing & mortage finance agency regulations

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

STRONG - 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: 83
  • Transparency & Controls: 90
  • Accountability: 76
  • Sustainability: 33
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 82.6%; rating input score 83
  • 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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • 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: Fail

Sustainability

  • Operating margin: -63.7%; rating input score 28; 28th percentile among comparable filings
  • Total-asset coverage ratio: 3.92; rating input score 43; 43rd percentile among comparable filings
  • Liabilities to assets ratio: 1.29; rating input score 4; 4th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 61; 61st percentile among comparable filings

Growth

  • Program expense growth: 2.2% per year; rating input score 100; 71st percentile among comparable filings
  • Revenue growth: 3% per year; rating input score 100; 78th percentile among comparable filings
  • Asset growth: -0.8% per year; rating input score 0; 38th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 82.6% of spending went to programs
  • Governance: 1 of 1 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $85K in reported program spending
  • Leadership: top reported pay $0 · 1 people listed
  • Consistency: 22 of 22 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 8 filing years from 2013 to 2020
  • 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.

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: 4 of 7 not reported.
  • High — Sustainability: Operating margin scored 28/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 43/100.
  • High — Sustainability: Liabilities to assets ratio scored 4/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.