Hudson Valley Housing Development Fund Company Inc

Nonprofit profile at a glance

EIN
222873650
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Wappingers Falls, NY, USA
Phone
8452972004
Rating
86
Verdict
STRONG
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$792,320
Expenses
$689,824
Assets
$7,805,810
Liabilities
$3,009,701

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

Leadership & pay

7 people listed

Highest reported compensation

  • MARGARET O'LEARY (C.E.O.): $137,995 total reported compensation
  • SUSAN MEANEY (C.F.O.): $56,126 total reported compensation

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

Overview

Mission

The purpose of the organization is to develop, on a non-profit basis, housing projects for persons of low-income, where no adequate housing exists for such persons in the hudson valley region of New York.

What it reported doing in 2024

To maintain and develop the housing properties and projects, on a non-profit basis, for persons of low-income, where no adequate housing exists for such persons in the hudson valley region of New York.

Operating model

Revenue model
Earned-program. 89% 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

STRONG - The filed numbers largely add up and a large share of available resources goes toward mission work. Liabilities are high compared with assets and reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 68
  • Transparency & Controls: 100
  • Accountability: 100
  • Sustainability: 68
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 72.3%; rating input score 72
  • Program expense ratio: 83.1%; rating input score 83
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • 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: 12.9%; rating input score 67; 67th percentile among comparable filings
  • Total-asset coverage ratio: 11.32; rating input score 93; 93rd percentile among comparable filings
  • Liabilities to assets ratio: 0.39; rating input score 20; 20th percentile among comparable filings
  • Officer compensation ratio: 2.6%; rating input score 58; 58th percentile among comparable filings

Growth

  • Program expense growth: 2.5% per year; rating input score 100; 29th percentile among comparable filings
  • Revenue growth: 1.5% per year; rating input score 100; 22nd percentile among comparable filings
  • Asset growth: 0.3% per year; rating input score 100; 19th percentile among comparable filings

Details

  • Where the money goes: 72.3% of revenue deployed · 83.1% of spending went to programs
  • Governance: 5 of 5 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $573K in reported program spending
  • Leadership: top reported pay $138K · 7 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 5 filed schedules
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 11 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 — Sustainability: Liabilities to assets ratio scored 20/100.
  • Review — Sustainability: Officer compensation ratio scored 58/100.