Findlay House, Inc.

Legal name: Findlay House Inc

Nonprofit profile at a glance

EIN
132689955
IRS 990 coverage
2010–2024
Official website data refreshed
Aug 2026
Forms available
Form 990 2024
Location
Bronx, NY, US
Phone
347-291-9687
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Supportive Housing for Older Adults

Official website

Reported finances

Revenue
$1,756,541
Expenses
$2,334,187
Assets
$3,083,405
Liabilities
$7,460,893

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

Leadership & pay

3 people listed

People named in this filing

  • PATRICK LOGAN (VICE CHAIRMA)
  • KEVIN THURMAN (SECRETARY)
  • JOSEPH ZITOLO (CHAIRMAN)

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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Findlay house inc. Was organized as a not-for-profit under the laws of New York state for the purpose of owning and operating a rental housing project in the bronx ny. The company provides low-income housing to qualified applicants as well as a food service program.

What it reported doing in 2024

Providing 227 housing units to low income senoir citizens in the bronx.

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. Expenses are high relative to revenue and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 83
  • Accountability: 88
  • Sustainability: 27
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 93.6%; rating input score 94
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 16th 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: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -32.9%; rating input score 5; 5th percentile among comparable filings
  • Total-asset coverage ratio: 1.32; rating input score 52; 52nd percentile among comparable filings
  • Liabilities to assets ratio: 2.42; rating input score 2; 2nd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 1.3% per year; rating input score 100; 23rd percentile among comparable filings
  • Revenue growth: -5% per year; rating input score 0; 5th percentile among comparable filings
  • Asset growth: -4.2% per year; rating input score 0; 7th percentile among comparable filings

Details

  • What they do: 8 programs and campaigns described on the official site · 1 operating location identified
  • Where the money goes: 100% of revenue deployed · 93.6% of spending went to programs
  • Governance: 3 of 3 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $2.2M in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 24 of 25 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Related organizations: Filed and resolved organization relationships.
  • 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 — Sustainability: Operating margin scored 5/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • Moderate — Transparency & Controls: Schedule D land buildings reconciliation did not reconcile in the filed values.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Total-asset coverage ratio scored 52/100.
  • High — Sustainability: Liabilities to assets ratio scored 2/100.