Housing Works Lyman Prospect Hdfc
Nonprofit profile at a glance
- EIN
- 464555144
- IRS 990 coverage
- 2013–2024
- Forms available
- Form 990 2024
- Location
- Brooklyn, NY, USA
- Phone
- 3474737400
- Rating
- 65
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Housing, Shelter N.E.C.
Reported finances
- Revenue
- $380,195
- Expenses
- $367,556
- Assets
- $595,966
- Liabilities
- $2,363,544
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
6 people listed
Executive titles in this filing
- CHARLES KING (CHAIR/CHIEF EXECUTIVE OFFICER)
Highest reported compensation
- CHARLES KING (CHAIR/CHIEF EXECUTIVE OFFICER): $566,893 total reported compensation
- ANDREW COAMEY (SECRETARY): $297,717 total reported compensation
- JOLANTA ILCZUK (CHIEF FINANCIAL OFFICER (THRU 7/24)): $274,536 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 works lyman prospect housing development fund corporation is a not-for-profit organization formed to provide supportive housing residence for homeless or formerly homeless persons of low income with AIDS or HIV-related illnesses.
What it reported doing in 2024
Housing works lyman prospect housing development fund corporation is a not-for-profit organization formed to provide supportive housing residence for homeless or formerly homeless persons of low income with AIDS or HIV-related illnesses at two apartment buildings at 1344 lyman place, bronx, New York and 1412 prospect avenue, bronx, New York.
Operating model
- Revenue model
- Earned-program. 86% 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: 40
- Growth: 0
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 96.7%; rating input score 97
- Program expense ratio: 100%; rating input score 100
- 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: 33.3%; rating input score 33; 15th 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: 3.3%; rating input score 47; 47th percentile among comparable filings
- Total-asset coverage ratio: 1.62; rating input score 54; 54th percentile among comparable filings
- Liabilities to assets ratio: 3.97; rating input score 1; 1st percentile among comparable filings
- Officer compensation ratio: 27.3%; rating input score 13; 13th percentile among comparable filings
Growth
- Program expense growth: -2% per year; rating input score 0; 24th percentile among comparable filings
- Revenue growth: -3.6% per year; rating input score 0; 13th percentile among comparable filings
- Asset growth: -15.8% per year; rating input score 0; 4th percentile among comparable filings
Details
- Where the money goes: 96.7% of revenue deployed · 100% of spending went to programs
- Governance: 1 of 3 board members independent · 7 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $368K in reported program spending
- Leadership: top reported pay $567K · 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: 12 filing years from 2013 to 2024
- 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.
- Moderate — Accountability: Independent voting board scored 33/100.
- High — Growth: Program expense growth scored 0/100.
- High — Growth: Revenue growth scored 0/100.
- Review — Accountability: Governance controls: 2 of 9 not reported.
- Moderate — Sustainability: Operating margin scored 47/100.
- High — Growth: Asset growth scored 0/100.
- Review — Sustainability: Total-asset coverage ratio scored 54/100.
- High — Sustainability: Liabilities to assets ratio scored 1/100.
- High — Sustainability: Officer compensation ratio scored 13/100.