New Opportunities Community Housing Development Corp

Nonprofit profile at a glance

EIN
161321037
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
Buffalo, NY, USA
Phone
7168847791
Rating
58
Verdict
MIXED
Rating confidence
Moderate

Reported finances

Revenue
$3,500
Expenses
$70,868
Assets
$723,616
Liabilities
$679,573

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

Leadership & pay

6 people listed

Executive titles in this filing

  • MICHAEL D RIEGEL (BOARD MEMBER/PRESIDENT)
  • ALICE LANIER (BOARD MEMBER/VICE PRESIDENT)
  • BRAD A PACKARD (BOARD MEMBER/CURRENT PRESIDENT)

Highest reported compensation

  • MICHAEL D RIEGEL (BOARD MEMBER/PRESIDENT): $219,456 total reported compensation
  • BRAD A PACKARD (BOARD MEMBER/CURRENT PRESIDENT): $169,755 total reported compensation
  • AARON HEJMOWSKI (BOARD MEMBER/TREASURER): $159,781 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 provide decent, affordable housing to low and moderate income persons of wny.

What it reported doing in 2024

Provided for the acquisition and rehabilitation or construction of single-family homes in order to establish home ownership opportunities for low and moderate income persons.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
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 - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 60
  • Accountability: 24
  • Sustainability: 22
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 91.4%; rating input score 91
  • 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: 16.7%; rating input score 17; 18th percentile among comparable filings
  • Governance controls: 3 of 9 controls in place; rating input score 33
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -1,924.8%; rating input score 4; 4th percentile among comparable filings
  • Total-asset coverage ratio: 10.21; rating input score 64; 64th percentile among comparable filings
  • Liabilities to assets ratio: 0.94; rating input score 7; 7th percentile among comparable filings
  • Officer compensation ratio: 93.5%; rating input score 4; 4th percentile among comparable filings

Growth

  • Program expense growth: -8.3% per year; rating input score 0; 32nd percentile among comparable filings
  • Revenue growth: -23.1% per year; rating input score 0; 17th percentile among comparable filings
  • Asset growth: -11.7% per year; rating input score 0; 12th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 91.4% of spending went to programs
  • Governance: 1 of 6 board members independent · 3 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $65K in reported program spending
  • Leadership: top reported pay $219K · 6 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 15 of 15 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 12 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 28 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.
  • High — Accountability: Independent voting board scored 17/100.
  • Moderate — Accountability: Governance controls: 5 of 8 not reported.
  • High — Sustainability: Operating margin scored 4/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 4/100.
  • High — Sustainability: Liabilities to assets ratio scored 7/100.