Hire Housing Development Fund Corporation

Nonprofit profile at a glance

EIN
133693602
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
New York, NY, USA
Phone
2122191618
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$443,316
Expenses
$572,449
Assets
$2,101,558
Liabilities
$3,054,995

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

Leadership & pay

5 people listed

Executive titles in this filing

  • BLANCA RAMIREZ (PRESIDENT (AS OF 3/18/24))
  • DR ROSA GIL (FORMER PRESIDENT (UNTIL 3/18/24))

Highest reported compensation

  • DR ROSA GIL (FORMER PRESIDENT (UNTIL 3/18/24)): $385,548 total reported compensation
  • BLANCA RAMIREZ (PRESIDENT (AS OF 3/18/24)): $300,000 total reported compensation
  • ANZHELA GRIGORYAN (CFO (AS OF 8/5/24)): $99,652 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 company owns a building that contains 40 apartment units located in the bronx, New York. The company leases all the units to homeless persons with AIDS or HIV-related illnesses.

What it reported doing in 2024

Operation of a 40-unit supportive housing program for homeless persons with AIDS or HIV-related infections.

Operating model

Revenue model
Earned-program. 84% 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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 85
  • Transparency & Controls: 65
  • Accountability: 76
  • Sustainability: 30
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 88.5%; rating input score 89
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 66.7%; rating input score 67; 18th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • 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: -29.1%; rating input score 10; 10th percentile among comparable filings
  • Total-asset coverage ratio: 3.67; rating input score 73; 73rd percentile among comparable filings
  • Liabilities to assets ratio: 1.45; rating input score 3; 3rd percentile among comparable filings
  • Officer compensation ratio: 8.3%; rating input score 30; 30th percentile among comparable filings

Growth

  • Program expense growth: 3.3% per year; rating input score 100; 46th percentile among comparable filings
  • Revenue growth: 0.1% per year; rating input score 100; 24th percentile among comparable filings
  • Asset growth: -2.6% per year; rating input score 0; 16th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 88.5% of spending went to programs
  • Governance: 2 of 3 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $507K in reported program spending
  • Leadership: top reported pay $386K · 5 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 27 of 27 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 47 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.
  • High — Sustainability: Operating margin scored 10/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Sustainability: Liabilities to assets ratio scored 3/100.
  • Moderate — Sustainability: Officer compensation ratio scored 30/100.