Greater Newark Housing Partnership Inc
Nonprofit profile at a glance
- EIN
- 261968933
- IRS 990 coverage
- 2017–2024
- Forms available
- Form 990 2024, Form 990-EZ 2016
- Location
- Newark, NJ, USA
- Phone
- 9737352154
- Rating
- 29
- Verdict
- REVIEW
- Rating confidence
- Moderate
- Sector
- Low-Income & Subsidized Rental Housing
Reported finances
- Revenue
- $33,299
- Expenses
- $23,054
- Assets
- $1,933,119
- Liabilities
- $2,167,615
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
6 people listed
Executive titles in this filing
- JAMIE SMARR (PRESIDENT & CEO)
- JOHN ABRAMO (EXECUTIVE DIRECTOR)
- NADJA ALVARADO (VICE PRESIDENT)
- DEBBRA MCALLISTER (VICE PRESIDENT)
Highest reported compensation
- JAMIE SMARR (PRESIDENT & CEO): $444,224 total reported compensation
- THERESA OMANSKY (SECRETARY): $305,830 total reported compensation
- ADAM GOLD (TREASURER): $263,569 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To develop, on a nonprofit basis, one or more housing projects for persons of low and moderate income where no adequate housing exists for such persons, which project is to be funded by government aided or other permanent financing as provided for in relevant state and federal statutes. The corporation is empowered to do and perform all acts reasonably necessary to accomplish the purposes of the corporation. In connection with these activities, the corporation seeks to lesson the burden of providing houses and other housing-related issues of both greater newark and the state of New Jersey, by seeking public private cooperation in connection with the development of affordable housing.
What it reported doing in 2024
Gnhp commenced construction rehabilitation on homes and a park location in the west ward of newark. Fhdc also obtained a construction loan and line of credit to finance the first phase of the west ward construction and rehabilitation of homes. Gnhp was previously awarded $2.5 million for the federal neighborhood stabilization program (nsp i and nsp ii). The organization broke ground on a mixed use affordable housing site with supportive housing tax credit building as not-for-profit partner with regan development in hudson county.
Operating model
- Revenue model
- Earned-program. 92% of the money available for current operations came from fees and other program revenue.
- Distribution model
- No current program activity. The filing reports no program spending for the current year.
The verdict
REVIEW - The filed numbers largely add up and revenue comfortably covers expenses. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.
Rating breakdown
- Financial Efficiency: 0
- Transparency & Controls: 64
- Accountability: 28
- Sustainability: 66
- Growth: 20
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 0%; rating input score 0
- Program expense ratio: 0%; rating input score 0
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: 0 of 6 controls in place; rating input score 0
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Missing
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 0%; rating input score 0; 9th percentile among comparable filings
- Governance controls: 6 of 9 controls in place; rating input score 67
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Fail
- Other executive compensation review process: Fail
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Fail
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 30.8%; rating input score 79; 79th percentile among comparable filings
- Total-asset coverage ratio: 83.85; rating input score 94; 94th percentile among comparable filings
- Liabilities to assets ratio: 1.12; rating input score 5; 5th percentile among comparable filings
- Officer compensation ratio: 853.8%; rating input score 1; 1st percentile among comparable filings
Growth
- Program expense growth: -52.1% per year; rating input score 0; 5th percentile among comparable filings
- Revenue growth: -0.3% per year; rating input score 0; 58th percentile among comparable filings
- Asset growth: 16.8% per year; rating input score 100; 89th percentile among comparable filings
Details
- Where the money goes: 0% of revenue deployed · 0% of spending went to programs
- Governance: 0 of 4 board members independent · 6 of 9 filing controls reported
- Programs: 1 filed program accomplishment
- Leadership: top reported pay $444K · 6 people listed · 0 of 6 pay-setting controls reported
- Consistency: 16 of 16 current checks pass
- Schedules: 5 filed schedules · includes executive pay
- Filing history: 7 filing years from 2017 to 2024
- Contacts: How to reach this organization
- Related organizations: 284 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.
- High — Financial Efficiency: Mission deployment rate scored 0/100.
- High — Financial Efficiency: Program expense ratio scored 0/100.
- High — Accountability: Independent voting board scored 0/100.
- High — Transparency & Controls: Pay-setting controls scored 0/100.
- Review — Accountability: Governance controls: 3 of 9 not reported.
- High — Growth: Program expense growth scored 0/100.
- High — Growth: Revenue growth scored 0/100.
- High — Sustainability: Officer compensation ratio scored 1/100.
- High — Sustainability: Liabilities to assets ratio scored 5/100.