Ignatius Hall Development Inc

Nonprofit profile at a glance

EIN
825524327
IRS 990 coverage
2021–2023
Forms available
Form 990 2023
Location
Jersey City, NJ, USA
Phone
2017617425
Rating
58
Verdict
MIXED
Rating confidence
Moderate

Reported finances

Revenue
$2,687,179
Expenses
$1,104,854
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

3 people listed

Highest reported compensation

  • EUGENE J CORNACCHIA PHD (TRUSTEE): $621,039 total reported compensation
  • PAUL CIRAULO (TRUSTEE): $213,337 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To establish and operate a dormitory facility for the students of saint peter's university in an effort to enhance the education and non-profit purposes of saint peter's university.

What it reported doing in 2023

Operation of a dormitory facility for the students of saint peter's university in an effort to enhance the education and non-profit purposes of saint peter's university.on may 8, 2024, the board of trustees authorized a plan of dissolution and transferred all assets to saint peter's university, a related 501(c)(3) public charity.

Operating model

Revenue model
Earned-program. 99% 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

MIXED - The filed numbers largely add up and program spending has grown recently. A relatively small share of available resources goes toward mission work and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 56
  • Transparency & Controls: 60
  • Accountability: 55
  • Sustainability: 48
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 40.8%; rating input score 41
  • Program expense ratio: 99.3%; rating input score 99
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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; 7th percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 86
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Limited
    • Other executive compensation review process: Limited
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 58.9%; rating input score 95; 95th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 10.1%; rating input score 28; 28th percentile among comparable filings

Growth

  • Program expense growth: 86.3% per year; rating input score 100; 99th percentile among comparable filings
  • Revenue growth: 77.8% per year; rating input score 100; 99th percentile among comparable filings
  • Asset growth: -73.3% per year; rating input score 0; 0th percentile among comparable filings

Details

  • Where the money goes: 40.8% of revenue deployed · 99.3% of spending went to programs
  • Governance: 1 of 3 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1.1M in reported program spending
  • Leadership: top reported pay $621K · 3 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 17 of 17 current checks pass
  • Schedules: 6 filed schedules · includes executive pay
  • Filing history: 3 filing years from 2021 to 2023
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 3 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 41/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Accountability: Independent voting board scored 33/100.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.
  • Review — Accountability: Governance controls: Conflict-of-interest policy not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 28/100.