Flatbush Development Corporation

Nonprofit profile at a glance

EIN
510188251
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Brooklyn, NY, USA
Phone
7188593800
Rating
90
Verdict
STRONG
Rating confidence
Moderate
Sector
Urban, Community Economic Development

Official website

Reported finances

Revenue
$5,085,655
Expenses
$5,065,274
Assets
$4,510,237
Liabilities
$3,052,333

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

Leadership & pay

10 people listed

Executive titles in this filing

  • ROBIN REDMOND (EXECUTIVE DIRECTOR)
  • SALVATORE LENTINI (PRESIDENT)
  • EDUARDO CROSA (VICE PRESIDENT)

Highest reported compensation

  • ROBIN REDMOND (EXECUTIVE DIRECTOR): $151,439 total reported compensation

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

Overview

Mission

Fdc is dedicated to meeting the needs of a diverse vibrant brooklyn. Fdc identifies responds to these needs by building partnerships, creating programs developing campaigns for economic development, housing, youth, immigration other initiatives that promote enhanced quality of life, safety, equity preservation of their community.

What it reported doing in 2024

Housing preservation activities include providing assistance to individual tenants, home owners and landlords about their rights and responsibilities, about how to maintain and preserve their homes, and affordable housing programs.

Operating model

Revenue model
Grant-funded. 87% of the money available for current operations came from government grants.
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 total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 92
  • Accountability: 100
  • Sustainability: 36
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 87.4%; rating input score 87
  • Program expense ratio: 87.8%; rating input score 88
  • Fundraising efficiency: $330.55 raised per $1 spent on fundraising; rating input score 94; 94th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • 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: 0.4%; rating input score 35; 35th percentile among comparable filings
  • Total-asset coverage ratio: 0.89; rating input score 33; 33rd percentile among comparable filings
  • Liabilities to assets ratio: 0.68; rating input score 14; 14th percentile among comparable filings
  • Officer compensation ratio: 3%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 7.3% per year; rating input score 100; 52nd percentile among comparable filings
  • Revenue growth: 7.4% per year; rating input score 100; 56th percentile among comparable filings
  • Asset growth: 13.2% per year; rating input score 100; 69th percentile among comparable filings

Details

  • Where the money goes: 87.4% of revenue deployed · 87.8% of spending went to programs
  • Governance: 9 of 9 board members independent · 8 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $4.4M in reported program spending
  • Leadership: top reported pay $151K · 10 people listed
  • Highest-paid contractors: 1 contractor listed · $314K reported
  • Consistency: 34 of 34 current checks pass
  • Schedules: 6 filed schedules · includes major donors
  • Filing history: 6 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • Moderate — Sustainability: Operating margin scored 35/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 33/100.
  • High — Sustainability: Liabilities to assets ratio scored 14/100.