Holland Hotel Housing Development Fund Corporation

Nonprofit profile at a glance

EIN
133712838
IRS 990 coverage
2024–2024
Forms available
Form 990 2024, Form 990-N 2023
Location
New York, NY, USA
Phone
2126200340
Rating
65
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$4,511,880
Expenses
$6,909,162
Assets
$31,155,680
Liabilities
$67,693,480

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

Leadership & pay

7 people listed

Executive titles in this filing

  • ERIC ROSENBAUM (PRESIDENT / CEO)

Highest reported compensation

  • ERIC ROSENBAUM (PRESIDENT / CEO): $405,937 total reported compensation
  • STEVEN JONES (TREASURER): $284,808 total reported compensation
  • PAUL WOODY (SECRETARY): $263,700 total reported compensation

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

Overview

Mission

Originally constructed in 1918, geffner house is a converted hotel that project renewal purchased from the city in 1996. Today, it is a 305 unit supportive housing building that provides permanent housing for adults with low income, including people with serious and persistent mental illness, individuals who are recovering from drug or alcohol addiction, and people who are living with HIV/AIDS.

What it reported doing in 2024

To own, rehabilitate, manage, lease, maintain, develop and operate a housing project for persons of low-income located in New York, New York. The housing project consists of 307 single-room units, operating under the name the holland house (the "project") and is also known as the geffner house.

Operating model

Revenue model
Earned-program. 94% 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 a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 60
  • Accountability: 52
  • Sustainability: 34
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 95.1%; 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: 50%; rating input score 50; 8th percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: -53.1%; rating input score 2; 2nd percentile among comparable filings
  • Total-asset coverage ratio: 4.51; rating input score 82; 82nd percentile among comparable filings
  • Liabilities to assets ratio: 2.17; rating input score 1; 1st percentile among comparable filings
  • Officer compensation ratio: 1.5%; rating input score 78; 78th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 100% of revenue deployed · 95.1% of spending went to programs
  • Governance: 3 of 6 board members independent · 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $6.6M in reported program spending
  • Leadership: top reported pay $406K · 7 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 24 of 24 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Contacts: How to reach this organization
  • Related organizations: 27 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: Independent voting board scored 50/100.
  • Review — Accountability: Governance controls: 4 of 9 not reported.
  • High — Sustainability: Operating margin scored 2/100.
  • High — Sustainability: Liabilities to assets ratio scored 1/100.