Local 560 Ibt Retirees Housing Assistance Fund Inc

Nonprofit profile at a glance

EIN
851851414
IRS 990 coverage
2022–2024
Forms available
Form 990 2024, Form 990-N 2020
Location
Elmwood Park, NJ, USA
Phone
2018673553
Rating
60
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Expense Reduction Support

Reported finances

Revenue
$1,066,592
Expenses
$836,343
Assets
$34,385,460
Liabilities
$2,896

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

Leadership & pay

7 people listed

Highest reported compensation

  • ALFELIX PEREZ (DIRECTOR): $224,061 total reported compensation
  • JOSEPH DIPALMA (DIRECTOR): $216,330 total reported compensation
  • JOSEPH DILEO (DIRECTOR): $211,832 total reported compensation

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

Overview

Mission

Provide housing assistance to elderly persons with financial need.

What it reported doing in 2024

Provide funding to elderly persons with financial need to enable them to live with dignity and independence by assisting them with housing related expenses.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
Member-benefit provider. The nonprofit used 100% of its reported program spending for member benefits.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 78
  • Transparency & Controls: 60
  • Accountability: 18
  • Sustainability: 76
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 89.8%; rating input score 90
  • Program expense ratio: 84.1%; rating input score 84
  • 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: 0%; rating input score 0; 5th percentile among comparable filings
  • Governance controls: 3 of 9 controls in place; rating input score 43
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 21.6%; rating input score 78; 78th percentile among comparable filings
  • Total-asset coverage ratio: 41.11; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 82; 82nd percentile among comparable filings
  • Officer compensation ratio: 64.1%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: 63.2% per year; rating input score 100; 97th percentile among comparable filings
  • Revenue growth: -135.9% per year; rating input score 0; 0th percentile among comparable filings
  • Asset growth: 7.5% per year; rating input score 100; 49th percentile among comparable filings

Details

  • Where the money goes: 89.8% of revenue deployed · 84.1% of spending went to programs
  • Governance: 0 of 7 board members independent · 3 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $704K in reported program spending
  • Leadership: top reported pay $224K · 7 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 17 of 17 current checks pass
  • Schedules: 3 filed schedules · includes executive pay
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • 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 — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 1/100.