Northfield Housing Development Fund Corporation

Nonprofit profile at a glance

EIN
331062640
IRS 990 coverage
2010–2023
Forms available
Form 990 2023
Location
Fairport, NY, USA
Phone
5853771810
Rating confidence
Limited
Sector
Low-Income & Subsidized Rental Housing

Official website

Reported finances

Revenue
$0
Expenses
$335,845
Assets
$2,999,650
Liabilities
$7,197,056

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

7 people listed

Executive titles in this filing

  • TOM POELMA (Vice President)
  • NEIL CAVALIERI (Vice President)

People named in this filing

  • TOM POELMA (Vice President)
  • CHRIS MARIANO (Treasurer)
  • JEAN LOWE (Director)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To develop housing for senior citizens and persons of low income in monroe county, New York.

What it reported doing in 2023

Northfield housing development fund corporation was incorporated to develop housing for senior citizens and persons of low income in monroe county, New York. The organization owns a 69 unit building located in fairport, New York.

Operating model

Revenue model
No positive adjusted resources. The filing reports no positive adjusted operating resources.
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

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: 75
  • Transparency & Controls: 90
  • Accountability: 80
  • Sustainability: 25
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • 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: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 85.7%; rating input score 86; 26th percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: Limited
  • Total-asset coverage ratio: 8.93; rating input score 60; 60th percentile among comparable filings
  • Liabilities to assets ratio: 2.4; rating input score 2; 2nd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: -11.2% per year; rating input score 0; 28th percentile among comparable filings
  • Revenue growth: -6% per year; rating input score 0; 42nd percentile among comparable filings
  • Asset growth: -5% per year; rating input score 0; 21st percentile among comparable filings

Details

  • Where the money goes: 100% of spending went to programs
  • Governance: 6 of 7 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $336K in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 14 of 14 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 6 filing years from 2010 to 2023
  • 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 — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Liabilities to assets ratio scored 2/100.
  • High — Growth: Asset growth scored 0/100.