Housing Works Pitkin Avenue Hdfc Inc

Nonprofit profile at a glance

EIN
300055831
IRS 990 coverage
2012–2024
Forms available
Form 990 2024, Form 990-EZ 2009
Location
Brooklyn, NY, USA
Phone
3474737400
Rating confidence
Limited
Sector
Housing Development, Construction, Management

Official website

Reported finances

Revenue
$0
Expenses
$155,022
Assets
$6,349,240
Liabilities
$6,762,900

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 pitkin avenue provides permanent supportive housing to homeless, low-income new yorkers living with HIV/AIDS. Revenue comes from government contracts and residents' rent. Resident rent is capped at 30% of their income.

What it reported doing in 2024

Housing works pitkin avenue housing development fund corporation located at 2609 pitkin avenue, brooklyn, New York provides a broad range of health services to persons living with AIDS or HIV related illnesses.

Operating model

Revenue model
No positive adjusted resources. The filing reports no positive adjusted operating resources.
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

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: 75
  • Transparency & Controls: 56
  • Accountability: 52
  • Sustainability: 28
  • Growth: 20

Detailed rating inputs

Financial Efficiency

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

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 25th 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: No; rating input score 0

Accountability

  • Independent voting board: 33.3%; rating input score 33; 19th 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: Limited
  • Total-asset coverage ratio: 40.96; rating input score 90; 90th percentile among comparable filings
  • Liabilities to assets ratio: 1.07; rating input score 5; 5th percentile among comparable filings
  • Officer compensation ratio: 64.7%; rating input score 5; 5th percentile among comparable filings

Growth

  • Program expense growth: -7.8% per year; rating input score 0; 32nd percentile among comparable filings
  • Revenue growth: -4.1% per year; rating input score 0; 46th percentile among comparable filings
  • Asset growth: 13.3% per year; rating input score 100; 85th percentile among comparable filings

Details

  • Where the money goes: 100% of spending went to programs
  • Governance: 1 of 3 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $155K in reported program spending
  • Leadership: top reported pay $567K · 6 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 16 of 17 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 13 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.
  • High — Transparency & Controls: Related-party transparency scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 5/100.
  • High — Sustainability: Officer compensation ratio scored 5/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.