Notre Dame Housing Dev Fund Co Inc

Nonprofit profile at a glance

EIN
133222083
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Bronx, NY, USA
Phone
7183675300
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$2,187,723
Expenses
$1,933,547
Assets
$3,303,649
Liabilities
$5,893,886

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

Leadership & pay

7 people listed

Executive titles in this filing

  • MARIA L CICCIU (VICE PRESIDENT)
  • CONSOLATO CICCIU (PRESIDENT)

People named in this filing

  • CECILIA FERRO (SECRETARYTREASURER)
  • PAUL FRACASSI (DIRECTOR)
  • MARIA L CICCIU (VICE PRESIDENT)

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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide affordable subsidized housing for senior citizens and handicapped individuals under section 202/8 program under the jurisdiction of the us department of housing and urban development

What it reported doing in 2024

The project is a 98 unit apartment project for the elderly located in the bronx New York. The project is operated under section 202 of the national housing act and regularly by the us department of housing and urban development with respect to rental charges and operating methods. The projects major program is its section 202 direct grant.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
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

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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 77
  • Transparency & Controls: 93
  • Accountability: 43
  • Sustainability: 58
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 83.1%; rating input score 83
  • Program expense ratio: 94%; rating input score 94
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 13th 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: 33.3%; rating input score 33; 7th percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 11.6%; rating input score 65; 65th percentile among comparable filings
  • Total-asset coverage ratio: 1.71; rating input score 56; 56th percentile among comparable filings
  • Liabilities to assets ratio: 1.78; rating input score 2; 2nd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: 2.3% per year; rating input score 100; 23rd percentile among comparable filings
  • Revenue growth: 4.8% per year; rating input score 100; 40th percentile among comparable filings
  • Asset growth: -3% per year; rating input score 0; 6th percentile among comparable filings

Details

  • Where the money goes: 83.1% of revenue deployed · 94% of spending went to programs
  • Governance: 1 of 3 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $1.8M in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 20 of 21 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules
  • Filing history: 6 filing years from 2019 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.

  • Moderate — Accountability: Independent voting board scored 33/100.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Total-asset coverage ratio scored 56/100.
  • High — Sustainability: Liabilities to assets ratio scored 2/100.