Housing Opportunities Housing Development Fund Corporation

Nonprofit profile at a glance

EIN
161386456
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Rochester, NY, USA
Phone
5855466340
Rating
64
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$366,668
Expenses
$515,587
Assets
$1,388,358
Liabilities
$3,202,930

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

Leadership & pay

6 people listed

Executive titles in this filing

  • Alexander D Castro (Vice President)
  • Christina Brooks (Vice President)
  • Jason Sackett (President)
  • Kathryn Bryan (Vice President)
  • Ruperto Montero (Vice President and Treasurer)

Highest reported compensation

  • Alexander D Castro (Vice President): $301,259 total reported compensation
  • Ruperto Montero (Vice President and Treasurer): $260,218 total reported compensation
  • Leslie W Kernan Jr (Secretary): $228,403 total reported compensation

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

Overview

Mission

Developing, maintaining, and operating affordable housing for persons of low income.

What it reported doing in 2024

The sole program of Housing Opportunities Housing Development Fund Corporation is to maintain affordable housing for low and very low income individuals within the greater Rochester, New York area.

Operating model

Revenue model
Earned-program. 91% 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 voting board members are independent and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 60
  • Accountability: 32
  • Sustainability: 26
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 92.1%; rating input score 92
  • 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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 7th 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: 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: -40.6%; rating input score 7; 7th percentile among comparable filings
  • Total-asset coverage ratio: 2.69; rating input score 66; 66th percentile among comparable filings
  • Liabilities to assets ratio: 2.31; rating input score 2; 2nd percentile among comparable filings
  • Officer compensation ratio: 16.7%; rating input score 22; 22nd percentile among comparable filings

Growth

  • Program expense growth: 4.3% per year; rating input score 100; 51st percentile among comparable filings
  • Revenue growth: 3.8% per year; rating input score 100; 46th percentile among comparable filings
  • Asset growth: -4.3% per year; rating input score 0; 11th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 92.1% of spending went to programs
  • Governance: 0 of 1 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $475K in reported program spending
  • Leadership: top reported pay $301K · 6 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 26 of 26 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 87 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 — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Sustainability: Operating margin scored 7/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 2/100.
  • High — Sustainability: Officer compensation ratio scored 22/100.