Park Avenue Thorpe Housing Development Fund Corporation

Nonprofit profile at a glance

EIN
133830057
IRS 990 coverage
2016–2024
Forms available
Form 990 2024
Location
Bronx, NY, USA
Phone
2127771010
Rating
69
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Temporary Housing

Reported finances

Revenue
$270,789
Expenses
$416,541
Assets
$886,882
Liabilities
$778,715

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

Leadership & pay

7 people listed

Executive titles in this filing

  • RACHEL LEVINE (EXECUTIVE DIRECTOR)
  • STEVE WRONSKI (PRESIDENT)
  • ROSS M SARRAF (VICE PRESIDENT)

Highest reported compensation

  • RACHEL LEVINE (EXECUTIVE DIRECTOR): $164,941 total reported compensation

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

Overview

Mission

Pat hdfc is committed to providing permanently affordable, supportive housing to low-income households and/or chronically homeless households. The building maintains 20 one and two bedroom apartments for qualifying individuals whose income is less than 50% or 60% of the area median income as determined by hud. Supportive housing entails on-site case management services and low rents that enable families to continue living in their communities.

What it reported doing in 2024

See schedule opat hdfc provides twenty permanently affordable supportive housing apartments to formerly homeless families and individuals. The building's ground floor houses louise's pantry food security program and the office space for the housing stabilty support program, out of which case management staff provide supportive services to residents and community members at large. These include intensive case management to ensure housing retention and stability, domestic violence prevention and intervention funded through the city's domestic violence and empowerment initiative, and a wide range of educational workshops and wellness events including financeial empowerment classes, fire safety courses, and nutritional demonstrations. In fy25 louise's pantry provided healthy food, toiletries, clothing and other goods to 200-250 households each week

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 78
  • Transparency & Controls: 65
  • Accountability: 74
  • Sustainability: 25
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 65.7%; rating input score 66
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 83.3%; rating input score 83; 22nd percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -53.8%; rating input score 5; 5th percentile among comparable filings
  • Total-asset coverage ratio: 2.13; rating input score 61; 61st percentile among comparable filings
  • Liabilities to assets ratio: 0.88; rating input score 6; 6th percentile among comparable filings
  • Officer compensation ratio: 2.2%; rating input score 35; 35th percentile among comparable filings

Growth

  • Program expense growth: 4.6% per year; rating input score 100; 52nd percentile among comparable filings
  • Revenue growth: -0.8% per year; rating input score 0; 21st percentile among comparable filings
  • Asset growth: -7.4% per year; rating input score 0; 8th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 65.7% of spending went to programs
  • Governance: 5 of 6 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $274K in reported program spending
  • Leadership: top reported pay $165K · 7 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 22 of 22 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 9 filing years from 2016 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.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Sustainability: Operating margin scored 5/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 6/100.
  • Moderate — Sustainability: Officer compensation ratio scored 35/100.