Kimmel Housing Development Foundation Inc

Nonprofit profile at a glance

EIN
262357993
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
New York, NY, USA
Phone
2129717600
Rating
36
Verdict
REVIEW
Rating confidence
Moderate
Sector
Low-Income & Subsidized Rental Housing

Reported finances

Revenue
$14,748
Expenses
$7,756
Assets
$2,119,503
Liabilities
$89,530

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

Leadership & pay

10 people listed

Executive titles in this filing

  • STUART KAPLAN (SECRETARY/CEO/DIRECTOR)
  • VICTOR WYLER (PRESIDENT/DIRECTOR)
  • RONALD KISNER (VICE PRESIDENT/DIRECTOR)

Highest reported compensation

  • STUART KAPLAN (SECRETARY/CEO/DIRECTOR): $1,089,839 total reported compensation
  • PAULA YAMAKAITIS (CFO): $403,933 total reported compensation
  • EVELYN WOLF (TREASURER/DIRECTOR): $132,933 total reported compensation

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

Overview

Mission

To develop, own, operate and manage housing for persons of low or moderate income, including affordable housing, workforce housing, and housing for persons with disabilities. The mission of the organization is to encourage and assist efforts to conserve, maintain and enhance the housing for persons of low or moderate income, including affordable housing, workforce housing, and housing for persons with disabilities, and to create:- affordable housing for working families, single heads of households, veterans and others with special housing needs- affordable housing for "at risk but independent" seniorscommunity settings that foster relationships between seniors and working families with children- environments that encourage the development of "families of choice" among the tenants

What it reported doing in 2024

Kimmel housing development foundation, inc. (the organization") was formed for the purpose of creating affordable housing for individuals, families, and for people with special needs in long island, New York. The existing affordable housing projects are known as apex senior citizen housing, l.p. ("apex i") and apex ii llc ("apex ii").

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

REVIEW - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 60
  • Accountability: 67
  • Sustainability: 72
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • 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: 66.7%; rating input score 67; 22nd percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 67
    • 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: Fail
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 47.4%; rating input score 87; 87th percentile among comparable filings
  • Total-asset coverage ratio: 273.27; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 22; 22nd percentile among comparable filings
  • Officer compensation ratio: 2,357.5%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: -7.2% per year; rating input score 0; 33rd percentile among comparable filings
  • Revenue growth: -18.8% per year; rating input score 0; 21st percentile among comparable filings
  • Asset growth: 0.1% per year; rating input score 100; 41st percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 6 of 9 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $1.1M · 10 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 16 of 16 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 15 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 34 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 — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 3 of 9 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 1/100.
  • High — Sustainability: Liabilities to assets ratio scored 22/100.