Graduate Center Foundation Housing Corporation

Nonprofit profile at a glance

EIN
262227891
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
New York, NY, USA
Phone
2128177660
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$2,160,105
Expenses
$2,278,920
Assets
$17,548,741
Liabilities
$11,792,448

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

Leadership & pay

3 people listed

Executive titles in this filing

  • PETER H DARROW (PRESIDENT)

People named in this filing

  • PETER H DARROW (PRESIDENT)
  • MYRON GLUCKSMAN (TREASURER)
  • DWIGHT LEE (SECRETARY)

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

Whereas the graduate center foundation housing corporation's main mission is to provide affordable housing for the use of graduate students and their families, while these students complete their studies, it goes hand in hand with the larger mission of the helping students fulfill their education goals and enabling students to succeed by creating and supporting a welcoming, safe and inclusive housing environment.

What it reported doing in 2024

See schedule o: the graduate center apartments have continued to grow in popularity among faculty and students. The graduate center apartments' rates have continued to stay competitive and affordable. Located at 165 east 118th street, the eight-story graduate center apartments complex offers bright, modern, airy, and affordable housing, and provides an easy commute to the graduate center for its students and faculty members. The graduate center apartment complex features 77 housing units, including 64 units for graduate students and 12 apartments for college faculty.the graduate center apartments amenities consist of a rooftop recreation space, an exercise room, a ground lounge, bike storage, and access to the extensive public spaces and outdoor areas on the campus adjacent to the housing facility.

Operating model

Revenue model
Earned-program. 98% 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 program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 90
  • Accountability: 82
  • Sustainability: 47
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 99.5%; rating input score 100
  • Program expense ratio: 94.3%; rating input score 94
  • Fundraising efficiency: Limited

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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • 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: Pass

Sustainability

  • Operating margin: -5.5%; rating input score 19; 19th percentile among comparable filings
  • Total-asset coverage ratio: 7.7; rating input score 88; 88th percentile among comparable filings
  • Liabilities to assets ratio: 0.67; rating input score 14; 14th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: -8.1% per year; rating input score 0; 3rd percentile among comparable filings
  • Revenue growth: -3.1% per year; rating input score 0; 5th percentile among comparable filings
  • Asset growth: -4.2% per year; rating input score 0; 4th percentile among comparable filings

Details

  • Where the money goes: 99.5% of revenue deployed · 94.3% of spending went to programs
  • Governance: 3 of 3 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $2.1M in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Highest-paid contractors: 1 contractor listed · $381K reported
  • Consistency: 28 of 28 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 2 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.

  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 19/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 14/100.