Harry & Jeanette Weinberg Gardens Housing Development Fund Company Inc
Nonprofit profile at a glance
- EIN
- 204981328
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- New York, NY, USA
- Phone
- 2128705000
- Rating
- 72
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Senior Citizens' Housing/Retirement Communities
Reported finances
- Revenue
- $1,756,387
- Expenses
- $1,650,143
- Assets
- $17,619,841
- Liabilities
- $15,271,468
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
7 people listed
Executive titles in this filing
- JEFFREY FARBER MD (PRESIDENT AND CEO)
Highest reported compensation
- JEFFREY FARBER MD (PRESIDENT AND CEO): $1,116,400 total reported compensation
- MARK WEISS (CFO): $568,601 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Our mission is to empower older adults to enhance purpose and well-being through a portfolio of innovative health care services.
What it reported doing in 2024
Weinberg gardens is a housing and urban development (hud) 202 senior apartment residence, and is the third such building constructed by the organization the 72 one-bedroom apartment building features community spaces, on-site laundry, a spacious landscaped deck and 24 hour security all apartments have kitchens and are handicapped accessible the building, located at 2550 webb avenue, bronx, ny, opened in 2010 and was made possible in part by a grant from the harry and jeanette weinberg foundation, one of the largest private foundations in the united states the weinberg foundation provides grants to not-for-profits that provide direct services to low-income and vulnerable individuals and families.
Operating model
- Revenue model
- Earned-program. 91% 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 - 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 some filing-based governance responses are negative or unanswered.
Rating breakdown
- Financial Efficiency: 77
- Transparency & Controls: 60
- Accountability: 74
- Sustainability: 59
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 80.7%; rating input score 81
- Program expense ratio: 94.6%; rating input score 95
- 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: 71.4%; rating input score 71; 15th percentile among comparable filings
- Governance controls: 7 of 9 controls in place; rating input score 78
- 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: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 6%; rating input score 53; 53rd percentile among comparable filings
- Total-asset coverage ratio: 10.68; rating input score 92; 92nd percentile among comparable filings
- Liabilities to assets ratio: 0.87; rating input score 8; 8th percentile among comparable filings
- Officer compensation ratio: 6.1%; rating input score 50; 50th percentile among comparable filings
Growth
- Program expense growth: 6.6% per year; rating input score 100; 50th percentile among comparable filings
- Revenue growth: 8.5% per year; rating input score 100; 61st percentile among comparable filings
- Asset growth: 0.7% per year; rating input score 100; 20th percentile among comparable filings
Details
- Where the money goes: 80.7% of revenue deployed · 94.6% of spending went to programs
- Governance: 5 of 7 board members independent · 7 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $1.6M in reported program spending
- Leadership: top reported pay $1.1M · 7 people listed · 0 of 6 pay-setting controls reported
- Consistency: 22 of 22 current checks pass
- Schedules: 5 filed schedules · includes executive pay
- Filing history: 14 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Related organizations: 21 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 — Transparency & Controls: Pay-setting controls scored 0/100.
- Review — Accountability: Governance controls: 2 of 9 not reported.
- Review — Sustainability: Operating margin scored 53/100.
- High — Sustainability: Liabilities to assets ratio scored 8/100.
- Review — Sustainability: Officer compensation ratio scored 50/100.