Habitat for Humanity of Greater Newark Inc

Nonprofit profile at a glance

EIN
222762202
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Newark, NJ, USA
Phone
9736243330
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$2,346,757
Expenses
$3,005,763
Assets
$2,937,981
Liabilities
$2,390,181

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

Leadership & pay

15 people listed

Executive titles in this filing

  • JEFFREY FARRELL (CEO)
  • CARLTON DANIELS (PRESIDENT)
  • WADE WOODSON (VICE PRESIDENT)

Highest reported compensation

  • JEFFREY FARRELL (CEO): $299,685 total reported compensation
  • DANIELLE SANCHEZ (CFO): $203,381 total reported compensation
  • JUANCARLOS CARVAJAL (RESTORE DIRECTOR): $110,115 total reported compensation

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

Overview

Mission

Homebuilding and critical repairs to replace substandard housing with affordable housing for low to moderate income families.

What it reported doing in 2024

The organization constructed housing for qualified families with the help of the families and volunteers. The homes are sold at lower of cost or appraised value to the families with zero percent interest loans. The organization also did critical repairs for homes that were damaged by hurricane sandy.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 80
  • Transparency & Controls: 65
  • Accountability: 95
  • Sustainability: 15
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 94.8%; rating input score 95
  • Program expense ratio: 74.6%; rating input score 75
  • Fundraising efficiency: $4.76 raised per $1 spent on fundraising; rating input score 16; 16th percentile among comparable filings

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: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 91.7%; rating input score 92; 22nd percentile among comparable filings
  • Governance controls: 9 of 9 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: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -28.1%; rating input score 4; 4th percentile among comparable filings
  • Total-asset coverage ratio: 0.98; rating input score 36; 36th percentile among comparable filings
  • Liabilities to assets ratio: 0.81; rating input score 10; 10th percentile among comparable filings
  • Officer compensation ratio: 20.4%; rating input score 12; 12th percentile among comparable filings

Growth

  • Program expense growth: 6.6% per year; rating input score 100; 49th percentile among comparable filings
  • Revenue growth: 6.2% per year; rating input score 100; 49th percentile among comparable filings
  • Asset growth: 0.3% per year; rating input score 100; 13th percentile among comparable filings

Details

  • Where the money goes: 94.8% of revenue deployed · 74.6% of spending went to programs
  • Governance: 11 of 12 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $2.2M in reported program spending
  • Leadership: top reported pay $300K · 15 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 33 of 33 current checks pass
  • Schedules: 7 filed schedules · includes major donors and executive pay
  • Filing history: 11 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Financial Efficiency: Fundraising efficiency scored 16/100.
  • High — Sustainability: Operating margin scored 4/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 36/100.
  • High — Sustainability: Liabilities to assets ratio scored 10/100.
  • High — Sustainability: Officer compensation ratio scored 12/100.