Park Housing Development Fund Company Inc
Nonprofit profile at a glance
- EIN
- 133566484
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Flushing, NY, USA
- Phone
- 7185194238
- Rating
- 75
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Recreation& Sports N.E.C.
Reported finances
- Revenue
- $1,118,583
- Expenses
- $1,655,053
- Assets
- $3,376,538
- Liabilities
- $9,377,226
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
20 people listed
Executive titles in this filing
- TARA BUONOCORE-RUT (PRESIDENT/CEO)
Highest reported compensation
- TARA BUONOCORE-RUT (PRESIDENT/CEO): $1,983,728 total reported compensation
- LENY TIRTASAPUTRA (CFO): $921,671 total reported compensation
- SHAUN RUSKIN (EXEC. VP, CSO THRU JUNE 2024): $612,162 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
See schedule opark housing development fund housing is a 94 unit apartment residence which participates in the united states housing and urban development section 202 supportive housing for the elderly program which is the only federally funded housing program designed specifically for older persons. Eligibility for residence is restricted usually to persons who are at least 62 years of age and have incomes below 50 percent of their area's median income. Apartments have special features such as grab bars, and ramps to help older persons remain safer and more independent as they age. Park housing development fund company's goal is to provide affordable housing to the low income, elderly and disabled population of the community.
What it reported doing in 2024
Park housing development fund housing is a 94 unit apartment residence which participates in the united states housing and urban development section 202 supportive housing for the elderly program.
Operating model
- Revenue model
- Grant-funded. 70% 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
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: 84
- Transparency & Controls: 65
- Accountability: 86
- Sustainability: 21
- Growth: 80
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 84.9%; rating input score 85
- 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: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 6 of 9 controls in place; rating input score 67
- 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: Fail
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -48%; rating input score 3; 3rd percentile among comparable filings
- Total-asset coverage ratio: 2.04; rating input score 65; 65th percentile among comparable filings
- Liabilities to assets ratio: 2.78; rating input score 1; 1st percentile among comparable filings
- Officer compensation ratio: 40.8%; rating input score 3; 3rd percentile among comparable filings
Growth
- Program expense growth: 2.7% per year; rating input score 100; 30th percentile among comparable filings
- Revenue growth: 2.4% per year; rating input score 100; 27th percentile among comparable filings
- Asset growth: -3.7% per year; rating input score 0; 8th percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 84.9% of spending went to programs
- Governance: 9 of 9 board members independent · 6 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $1.4M in reported program spending
- Leadership: top reported pay $2M · 20 people listed · 0 of 6 pay-setting controls reported
- Highest-paid contractors: 2 contractors listed · $313K reported
- Consistency: 26 of 26 current checks pass
- Schedules: 6 filed schedules · includes major donors and executive pay
- Filing history: 14 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Related organizations: 23 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 9 not reported.
- High — Sustainability: Operating margin scored 3/100.
- High — Growth: Asset growth scored 0/100.
- High — Sustainability: Liabilities to assets ratio scored 1/100.
- High — Sustainability: Officer compensation ratio scored 3/100.