Federation Housing Inc

Nonprofit profile at a glance

EIN
232122054
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Philadelphia, PA, USA
Phone
2156736446
Rating
83
Verdict
STRONG
Rating confidence
Standard
Sector
Urban, Community Economic Development

Official website

Reported finances

Revenue
$4,128,701
Expenses
$2,926,557
Assets
$44,042,828
Liabilities
$339,004

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

Leadership & pay

31 people listed

Executive titles in this filing

  • MICHAEL DAVIDSON ESQ (VICE PRESIDENT)
  • DEBORAH GERSHEN GENNELLO (VICE PRESIDENT)
  • AVA GOLDMAN (PRESIDENT)
  • ERIC NAFTULIN (EXECUTIVE DIRECTOR)

Highest reported compensation

  • ERIC NAFTULIN (EXECUTIVE DIRECTOR): $299,762 total reported compensation

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

Overview

Mission

Our mission is to provide affordable housing opportunities for low-income seniors who are able to sustain themselves in an independent living environment, to create facilities where our residents can reside and socialize while maintaining a high quality of life and activity, and to have our facilities available to as many seniors as possible by developing additional buildings in the philadelphia and surrounding suburbs.

What it reported doing in 2024

Transportation program- 2 mini-vans and a 14 passenger mini bus were available to transport passengers at no charge to doctor's appointments, food shopping, malls and other outings by appointment. These services were outsourced in november 2017 and the vehicles were sold, but the residents continue to receive transportation services at no charge. The program was temporarily suspended from march 2020 until july 2021 due to covid-19. There were 1950 total resident rides for the fiscal year.

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 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. Reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 73
  • Transparency & Controls: 84
  • Accountability: 100
  • Sustainability: 81
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 64.7%; rating input score 65
  • Program expense ratio: 84.8%; rating input score 85
  • Fundraising efficiency: $47.3 raised per $1 spent on fundraising; rating input score 77; 77th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • 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; 63rd percentile among comparable filings
  • Governance controls: 8 of 8 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: 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: 29.1%; rating input score 84; 84th percentile among comparable filings
  • Total-asset coverage ratio: 15.05; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 87; 87th percentile among comparable filings
  • Officer compensation ratio: 10.2%; rating input score 29; 29th percentile among comparable filings

Growth

  • Program expense growth: 4.3% per year; rating input score 100; 35th percentile among comparable filings
  • Revenue growth: 5.8% per year; rating input score 100; 47th percentile among comparable filings
  • Asset growth: 5.1% per year; rating input score 100; 35th percentile among comparable filings

Details

  • Where the money goes: 64.7% of revenue deployed · 84.8% of spending went to programs
  • Governance: 30 of 30 board members independent · 8 of 8 filing controls reported
  • Programs: 5 filed program accomplishments · $2.5M in reported program spending
  • Leadership: top reported pay $300K · 31 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 32 of 32 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 20 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Sustainability: Officer compensation ratio scored 29/100.