Hellgate Management Corporation
Nonprofit profile at a glance
- EIN
- 132985574
- IRS 990 coverage
- 2022–2024
- Forms available
- Form 990 2024, Form 990-EZ 2020
- Location
- New York, NY, USA
- Phone
- 2124107707
- Rating
- 76
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Community, Neighborhood Development
Reported finances
- Revenue
- $388,794
- Expenses
- $553,162
- Assets
- $483,056
- Liabilities
- $571,868
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
10 people listed
Executive titles in this filing
- RAUL RASSI (PRESIDENT)
- LYMARIS ALBORIS (CHIEF EXECUTIVE OFFICER)
Highest reported compensation
- RAUL RASSI (PRESIDENT): $998,427 total reported compensation
- LYMARIS ALBORIS (CHIEF EXECUTIVE OFFICER): $892,752 total reported compensation
- JOSE A RODRIGUEZ (CHIEF LEGAL OFFICER/EXEC VP): $592,593 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Hellgate management has developed and created plans, projects, and activities to eliminate the abandonment of housing stock in east harlem. The organization has also helped to rebuild the community by providing assistance in areas such as eviction prevention, tenant advocacy, landlord assistance and homeowner education in the east harlem community.
What it reported doing in 2024
The organization's role in the east harlem community is to help rebuild the community by providing assistance in areas such as eviction prevention, tenant advocacy, landlord assistance and homeowner education.
Operating model
- Revenue model
- Earned-program. 62% 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. A relatively small share of total spending goes to programs and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 67
- Transparency & Controls: 79
- Accountability: 100
- Sustainability: 15
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 84.5%; rating input score 85
- Program expense ratio: 59.4%; rating input score 59
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
- Pay-setting controls: 3 of 6 controls in place; rating input score 50
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Pass
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd 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: -42.3%; rating input score 6; 6th percentile among comparable filings
- Total-asset coverage ratio: 0.87; rating input score 37; 37th percentile among comparable filings
- Liabilities to assets ratio: 1.18; rating input score 4; 4th percentile among comparable filings
- Officer compensation ratio: 42.5%; rating input score 5; 5th percentile among comparable filings
Growth
- Program expense growth: 2.1% per year; rating input score 100; 40th percentile among comparable filings
- Revenue growth: 14.1% per year; rating input score 100; 81st percentile among comparable filings
- Asset growth: 8.7% per year; rating input score 100; 62nd percentile among comparable filings
Details
- Where the money goes: 84.5% of revenue deployed · 59.4% of spending went to programs
- Governance: 6 of 6 board members independent · 9 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $329K in reported program spending
- Leadership: top reported pay $998K · 10 people listed · 3 of 6 pay-setting controls reported
- Consistency: 28 of 28 current checks pass
- Schedules: 6 filed schedules · includes major donors and executive pay
- Filing history: 3 filing years from 2022 to 2024
- Contacts: How to reach this organization
- Related organizations: 118 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 — Financial Efficiency: Program expense ratio scored 59/100.
- High — Sustainability: Operating margin scored 6/100.
- Moderate — Sustainability: Total-asset coverage ratio scored 37/100.
- High — Sustainability: Liabilities to assets ratio scored 4/100.
- High — Sustainability: Officer compensation ratio scored 5/100.