Oh 123Rd Street Housing Development Corporation
Nonprofit profile at a glance
- EIN
- 208873951
- IRS 990 coverage
- 2009–2024
- Forms available
- Form 990 2024
- Location
- New York, NY, USA
- Phone
- 2123611625
- Rating
- 52
- Verdict
- MIXED
- Rating confidence
- Moderate
- Sector
- Mental Health Treatment F31 Psychiatric, Mental Health Hospital
Reported finances
- Revenue
- $894,589
- Expenses
- $197,479
- Assets
- $13,251,990
- Liabilities
- $3,491,760
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
3 people listed
Executive titles in this filing
- PETER PROVET (PRESIDENT)
Highest reported compensation
- PETER PROVET (PRESIDENT): $632,250 total reported compensation
- JOHN TAVOLACCI (SECRETARY): $543,332 total reported compensation
- DURGA VALLABHANENI (TREASURER): $477,043 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Assist in development and construction of low-income housing.
What it reported doing in 2024
Interest income on funding low-income housing development.
Operating model
- Revenue model
- Grant-funded. 63% of the money available for current operations came from government grants.
- 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 - The filed numbers largely add up and revenue comfortably covers expenses. A relatively small share of available resources goes toward mission work and a relatively small share of voting board members are independent.
Rating breakdown
- Financial Efficiency: 53
- Transparency & Controls: 65
- Accountability: 32
- Sustainability: 78
- Growth: 20
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 36%; rating input score 36
- 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: 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: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 0%; rating input score 0; 5th 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: Fail
- Other executive compensation review process: Fail
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 77.9%; rating input score 97; 97th percentile among comparable filings
- Total-asset coverage ratio: 67.11; rating input score 99; 99th percentile among comparable filings
- Liabilities to assets ratio: 0.26; rating input score 27; 27th percentile among comparable filings
- Officer compensation ratio: 151.6%; rating input score 0; 0th percentile among comparable filings
Growth
- Program expense growth: -5.1% per year; rating input score 0; 8th percentile among comparable filings
- Revenue growth: -2% per year; rating input score 0; 9th percentile among comparable filings
- Asset growth: 3% per year; rating input score 100; 29th percentile among comparable filings
Details
- Where the money goes: 36% of revenue deployed · 100% of spending went to programs
- Governance: 0 of 3 board members independent · 7 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $197K in reported program spending
- Leadership: top reported pay $632K · 3 people listed · 0 of 6 pay-setting controls reported
- Consistency: 14 of 14 current checks pass
- Schedules: 5 filed schedules · includes major donors and executive pay
- Filing history: 15 filing years from 2009 to 2024
- Contacts: How to reach this organization
- Related organizations: 4 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.
- Moderate — Financial Efficiency: Mission deployment rate scored 36/100.
- High — Accountability: Independent voting board scored 0/100.
- High — Transparency & Controls: Pay-setting controls scored 0/100.
- High — Growth: Program expense growth scored 0/100.
- High — Growth: Revenue growth scored 0/100.
- Review — Accountability: Governance controls: 2 of 9 not reported.
- High — Sustainability: Officer compensation ratio scored 0/100.
- High — Sustainability: Liabilities to assets ratio scored 27/100.