Greater Centennial Homes Housing Development Fund Company Inc

Nonprofit profile at a glance

EIN
132768939
IRS 990 coverage
2009–2020
Forms available
Form 990 2020
Location
Mount Vernon, NY, USA
Phone
9146641838
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$3,701,165
Expenses
$2,509,594
Assets
$12,297,356
Liabilities
$12,418,512

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

Leadership & pay

5 people listed

People named in this filing

  • DR STEPHEN W POGUE (CHAIRMAN)
  • RODNEY OLDEN (TREASURER)
  • LOIS COLEMAN (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 2020. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide housing for low and moderate income families and to demonstrate a continuing commitment to managing and preserving a viable source of quality affordable housing in mount vernon, ny.

What it reported doing in 2020

Greater centennial homes housing development fund company, inc. (the "project") was incorporated in january 1981, as a not-for-profit company, incorporated under the laws of the state of New York. The project is sponsored by greater centennial a.m.e. Zion church of the city of mount vernon and provides housing for low and moderate income families.

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

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 56
  • Transparency & Controls: 90
  • Accountability: 76
  • Sustainability: 75
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 53.4%; rating input score 53
  • Program expense ratio: 78.8%; rating input score 79
  • 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; 64th 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: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 32.2%; rating input score 84; 84th percentile among comparable filings
  • Total-asset coverage ratio: 4.9; rating input score 82; 82nd percentile among comparable filings
  • Liabilities to assets ratio: 1.01; rating input score 5; 5th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 92; 92nd percentile among comparable filings

Growth

  • Program expense growth: 0.5% per year; rating input score 100; 28th percentile among comparable filings
  • Revenue growth: 3.9% per year; rating input score 100; 44th percentile among comparable filings
  • Asset growth: -1.8% per year; rating input score 0; 11th percentile among comparable filings

Details

  • Where the money goes: 53.4% of revenue deployed · 78.8% of spending went to programs
  • Governance: 5 of 5 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $2M in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Highest-paid contractors: 1 contractor listed · $163K reported
  • Consistency: 27 of 27 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 12 filing years from 2009 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.

  • Review — Financial Efficiency: Mission deployment rate scored 53/100.
  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 5/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.