Highbridge Community Housing Development Fund Corp

Nonprofit profile at a glance

EIN
133496091
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Bronx, NY, USA
Phone
7182933100
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Low-Income & Subsidized Rental Housing

Reported finances

Revenue
$10,272,483
Expenses
$12,040,368
Assets
$40,095,074
Liabilities
$97,601,969

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

Leadership & pay

9 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 (CHIEF FINANCIAL OFFICER): $196,885 total reported compensation

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

Overview

Mission

Provide low income housing in highbridge section of bronx, ny.

What it reported doing in 2024

Hchdfc operated a 722-apartment-unit project for homeless, low-income, and moderate-income families in the bronx, New York. The organization also engaged in the development and marketing of two-family homes and is leasing land for development in the bronx, New York.

Operating model

Revenue model
Other-operating. 98% of the money available for current operations came from other operating revenue.
Distribution model
Direct operator. The filing allocates 98% 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: 84
  • Transparency & Controls: 69
  • Accountability: 82
  • Sustainability: 37
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 99.9%; rating input score 100
  • Program expense ratio: 85.2%; rating input score 85
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 14th 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: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 56
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -17.2%; rating input score 6; 6th percentile among comparable filings
  • Total-asset coverage ratio: 3.33; rating input score 78; 78th percentile among comparable filings
  • Liabilities to assets ratio: 2.43; rating input score 1; 1st percentile among comparable filings
  • Officer compensation ratio: 0.2%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: -0.7% per year; rating input score 0; 9th percentile among comparable filings
  • Revenue growth: 2% per year; rating input score 100; 18th percentile among comparable filings
  • Asset growth: -3.3% per year; rating input score 0; 4th percentile among comparable filings

Details

  • Where the money goes: 99.9% of revenue deployed · 85.2% of spending went to programs
  • Governance: 7 of 7 board members independent · 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $10.3M in reported program spending
  • Leadership: top reported pay $321K · 9 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $1.1M reported
  • Consistency: 29 of 30 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes grants and executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 15 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: 3 of 8 not reported.
  • High — Sustainability: Operating margin scored 6/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 1/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.