Highbridge Community Development Corp

Nonprofit profile at a glance

EIN
133860487
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Bronx, NY, USA
Phone
7182933100
Rating
56
Verdict
MIXED
Rating confidence
Moderate
Sector
Community, Neighborhood Development

Official website

Reported finances

Revenue
$3,296,867
Expenses
$2,383,104
Assets
$16,336,476
Liabilities
$1,249,032

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

Leadership & pay

13 people listed

Executive titles in this filing

  • MSGR DONALD SAKANO (PRESIDENT)
  • REV MARK CREGAN (VICE PRESIDENT/TREASURER)
  • KOBINA ARHIN (SVP/CEO)

Highest reported compensation

  • KOBINA ARHIN (SVP/CEO): $321,228 total reported compensation
  • DONNA SMITH (CFO): $196,885 total reported compensation
  • MARTIN RIVERA (MAINTENANCE DIRECTOR): $144,398 total reported compensation

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

Overview

Mission

The organization assists in the development and management of affordable housing in the bronx. The organization also provides tenant services for the residents of the highbridge section with the overall goal of improving the neighborhood.

What it reported doing in 2024

Hcdc has successfully developed, manages, and operates over 2,500 moderate and low-income units throughout numerous neighborhoods in the bronx. We specialize in multiple services such as real estate management and development, property management, and communitydevelopment. Hcdc is committed to working with residents, businesses, and religious organizations throughout the borough to make the bronx a great place to live and work by providing housing that is affordable, well-designed, secure, and professionally managed.

Operating model

Revenue model
Earned-program. 93% 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

MIXED - 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 a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 26
  • Transparency & Controls: 80
  • Accountability: 91
  • Sustainability: 72
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 25.9%; rating input score 26
  • Program expense ratio: 35.9%; rating input score 36
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd 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: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 27.7%; rating input score 83; 83rd percentile among comparable filings
  • Total-asset coverage ratio: 6.86; rating input score 87; 87th percentile among comparable filings
  • Liabilities to assets ratio: 0.08; rating input score 63; 63rd percentile among comparable filings
  • Officer compensation ratio: 43.7%; rating input score 2; 2nd percentile among comparable filings

Growth

  • Program expense growth: -6.5% per year; rating input score 0; 4th percentile among comparable filings
  • Revenue growth: -2.9% per year; rating input score 0; 5th percentile among comparable filings
  • Asset growth: -5.3% per year; rating input score 0; 3rd percentile among comparable filings

Details

  • Where the money goes: 25.9% of revenue deployed · 35.9% of spending went to programs
  • Governance: 7 of 7 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $855K in reported program spending
  • Leadership: top reported pay $321K · 13 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 31 of 31 current checks pass
  • Schedules: 6 filed schedules · includes major donors, executive pay, and related organizations
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • Related organizations: 11 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.
  • 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 — Financial Efficiency: Mission deployment rate scored 26/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 36/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 2/100.