Housing Partnership Development Corporation
Nonprofit profile at a glance
- EIN
- 133202014
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- New York, NY, USA
- Phone
- 6462173370
- Rating
- 78
- Verdict
- SUPPORTED
- Rating confidence
- Standard
- Sector
- Housing Development, Construction, Management
Reported finances
- Revenue
- $5,144,863
- Expenses
- $5,849,853
- Assets
- $9,496,209
- Liabilities
- $3,352,361
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
27 people listed
Executive titles in this filing
- JAMIE SMARR (PRESIDENT & CEO)
- NADJA ALVARADO (VICE PRESIDENT, REAL ESTATE)
- DEBBRA MCALLISTER (VICE PRESIDENT)
- SHELIA MARTIN (VICE PRESIDENT & COO THRU 1/31/2024)
Highest reported compensation
- JAMIE SMARR (PRESIDENT & CEO): $444,224 total reported compensation
- THERESA OMANSKY (SECRETARY/GEN. COUNSEL): $305,830 total reported compensation
- ADAM GOLD (TREASURER & CFO): $263,569 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Housing partnership development corporation functions to provide available low and moderate cost housing in the New York metro area through new housing production, preservation, rehabilitation, as well as the revitalization and gentrification of neighborhoods.
What it reported doing in 2024
Prospective home buyers were provided with counseling courses to educate them in the advantages of home ownership, financial planning and understanding debt.we are focusing on the intersection of affordable housing and energy investment. We analyze solar and energy investment opportunities across portfolios of affordable housing assets and partner with housing owners to execute on those projects.
Operating model
- Revenue model
- Earned-program. 80% 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. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 68
- Transparency & Controls: 81
- Accountability: 100
- Sustainability: 25
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 78.1%; rating input score 78
- Program expense ratio: 71.8%; rating input score 72
- Fundraising efficiency: $1.8 raised per $1 spent on fundraising; rating input score 4; 4th percentile among comparable filings
Transparency & Controls
- Consistency checks: 94.4%; rating input score 94; 24th percentile among comparable filings
- Pay-setting controls: 3 of 6 controls in place; rating input score 50
- Compensation committee: Pass
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 9 of 9 controls in place; rating input score 100
- 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: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -13.7%; rating input score 10; 10th percentile among comparable filings
- Total-asset coverage ratio: 1.62; rating input score 55; 55th percentile among comparable filings
- Liabilities to assets ratio: 0.35; rating input score 30; 30th percentile among comparable filings
- Officer compensation ratio: 27.9%; rating input score 6; 6th percentile among comparable filings
Growth
- Program expense growth: 5.6% per year; rating input score 100; 43rd percentile among comparable filings
- Revenue growth: 5.8% per year; rating input score 100; 47th percentile among comparable filings
- Asset growth: 5% per year; rating input score 100; 35th percentile among comparable filings
Details
- Where the money goes: 78.1% of revenue deployed · 71.8% of spending went to programs
- Governance: 20 of 20 board members independent · 9 of 9 filing controls reported
- Programs: 3 filed program accomplishments · $4.2M in reported program spending
- Leadership: top reported pay $444K · 27 people listed · 3 of 6 pay-setting controls reported
- Highest-paid contractors: 1 contractor listed · $289K reported
- Consistency: 34 of 35 current checks pass · 1 finding to review
- Schedules: 8 filed schedules · includes major donors and executive pay
- Filing history: 14 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 7 filed money-flow records
- Related organizations: 287 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: Fundraising efficiency scored 4/100.
- High — Sustainability: Operating margin scored 10/100.
- Review — Sustainability: Total-asset coverage ratio scored 55/100.
- High — Sustainability: Officer compensation ratio scored 6/100.
- Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
- Moderate — Sustainability: Liabilities to assets ratio scored 30/100.