Independence 2Nd Owner Corp

Nonprofit profile at a glance

EIN
113359073
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Elmont, NY, USA
Phone
7188056796
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Human Service Organizations

Official website

Reported finances

Revenue
$49,896
Expenses
$57,016
Assets
$750,637
Liabilities
$867,030

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

Leadership & pay

6 people listed

Executive titles in this filing

  • EILEEN BECKER (PRESIDENT)
  • SCOTT SPRINGER (VICE PRESIDENT)
  • GILBERT LOUIS (CHIEF EXECUTIVE OFFICER)

Highest reported compensation

  • GILBERT LOUIS (CHIEF EXECUTIVE OFFICER): $608,776 total reported compensation
  • LINA SARAY (CHIEF FINANCIAL AND HR OFFICER): $274,756 total reported compensation
  • TODD PINKUS (CFO (THRU MAY 2025)): $244,801 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 organization was formed to provide low income housing to mentally and developmentally disabled individuals who are resident of queens and surrounding areas. Services provided include clinical, case management, and family support.

What it reported doing in 2024

Residential services are provided to low income mentally and developmentally disabled individuals. Clinical services, case management services, family support services, as well as other program services are additionally provided for the benefit of residents. 7 individuals were served.

Operating model

Revenue model
Earned-program. 100% 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 most voting board members are independent. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 60
  • Accountability: 91
  • Sustainability: 42
  • Growth: 100

Detailed rating inputs

Financial Efficiency

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

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 100%; rating input score 100; 64th 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: -14.3%; rating input score 43; 43rd percentile among comparable filings
  • Total-asset coverage ratio: 13.17; rating input score 70; 70th percentile among comparable filings
  • Liabilities to assets ratio: 1.16; rating input score 4; 4th percentile among comparable filings
  • Officer compensation ratio: 349.4%; rating input score 2; 2nd percentile among comparable filings

Growth

  • Program expense growth: 6.5% per year; rating input score 100; 69th percentile among comparable filings
  • Revenue growth: 5.6% per year; rating input score 100; 79th percentile among comparable filings
  • Asset growth: 2.8% per year; rating input score 100; 56th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 2 of 2 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $57K in reported program spending
  • Leadership: top reported pay $609K · 6 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 18 of 18 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 2 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.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • Moderate — Sustainability: Operating margin scored 43/100.
  • High — Sustainability: Officer compensation ratio scored 2/100.
  • High — Sustainability: Liabilities to assets ratio scored 4/100.