New Destiny Housing Corporation

Nonprofit profile at a glance

EIN
133778489
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
New York, NY, USA
Phone
6464720262
Rating
81
Verdict
STRONG
Rating confidence
Standard
Sector
Housing Development, Construction, Management

Official website

Reported finances

Revenue
$19,752,905
Expenses
$15,005,232
Assets
$21,878,540
Liabilities
$3,056,561

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

Leadership & pay

25 people listed

Executive titles in this filing

  • NICOLE BRANCA (CHIEF EXECUTIVE OFFICER)

Highest reported compensation

  • NICOLE BRANCA (CHIEF EXECUTIVE OFFICER): $202,757 total reported compensation
  • NICHOLAS LUNDGREN (GENERAL COUNSEL): $161,144 total reported compensation
  • RICHARD CONLEY (SENIOR DIR. OF REAL ESTATE): $142,532 total reported compensation

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

Overview

Mission

New destiny's mission is to end the cycle of domestic violence and homelessness for low-income families and individuals by developing and connecting them to safe, permanent, affordable housing and services

What it reported doing in 2024

Housing access and stability services is a rapid rehousing program that focuses on connecting survivors to permanent housing as quickly and safely as possible. The goal is to prevent or shorten stays in New York city's homeless shelter systems. Clients receive referrals to units in areas self-identified as safe. They also receive hands-on support to secure the unit including assistance with the leasing and moving process. The program also offers short term rental assistance, financial coaching, supportive services such as childcare, transportation assistance, licensing fees, and referrals for training and mental health needs. The team rounds out services by providing housing training and technical assistance to domestic violence survivors and their advocates.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Hybrid. The nonprofit split its reported program spending across 63% for direct work, and 37% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 71
  • Transparency & Controls: 88
  • Accountability: 91
  • Sustainability: 68
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 62.5%; rating input score 63
  • Program expense ratio: 81.5%; rating input score 82
  • Fundraising efficiency: $50 raised per $1 spent on fundraising; rating input score 76; 76th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th 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: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 24%; rating input score 85; 85th percentile among comparable filings
  • Total-asset coverage ratio: 1.46; rating input score 50; 50th percentile among comparable filings
  • Liabilities to assets ratio: 0.14; rating input score 67; 67th percentile among comparable filings
  • Officer compensation ratio: 5.8%; rating input score 44; 44th percentile among comparable filings

Growth

  • Program expense growth: 21.2% per year; rating input score 100; 91st percentile among comparable filings
  • Revenue growth: 17.2% per year; rating input score 100; 89th percentile among comparable filings
  • Asset growth: 9% per year; rating input score 100; 60th percentile among comparable filings

Details

  • Where the money goes: 62.5% of revenue deployed · 81.5% of spending went to programs
  • Governance: 17 of 17 board members independent · 7 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $12.2M in reported program spending
  • Leadership: top reported pay $203K · 25 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 4 contractors listed · $1M reported
  • Consistency: 40 of 40 current checks pass
  • Schedules: 10 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 7 filed money-flow records
  • Related organizations: 27 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Review — Sustainability: Total-asset coverage ratio scored 50/100.
  • Moderate — Sustainability: Officer compensation ratio scored 44/100.