Pcmh Hull Housing Development Fund Corporation

Nonprofit profile at a glance

EIN
273047041
IRS 990 coverage
2015–2024
Forms available
Form 990 2024, Form 990-N 2013
Location
New York, NY, USA
Phone
2128895500
Rating
46
Verdict
MIXED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$646,509
Expenses
$203,079
Assets
$9,649,886
Liabilities
$4,676,927

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

Leadership & pay

4 people listed

Executive titles in this filing

  • JACOB BARAK PHD PRESIDENT (& CEO OF PCMH, FHMC, & CHC)
  • CARA TURNER (VICE PRESIDENT)

Highest reported compensation

  • JACOB BARAK PHD PRESIDENT (& CEO OF PCMH, FHMC, & CHC): $1,025,159 total reported compensation
  • DALER AMONOV (CFO): $303,955 total reported compensation
  • CARA TURNER (VICE PRESIDENT): $292,450 total reported compensation

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

Overview

Mission

The corporation is organized exclusively for the purpose of developing a housing project for persons of low income.

Operating model

Revenue model
Grant-funded. 93% 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: 51
  • Transparency & Controls: 64
  • Accountability: 9
  • Sustainability: 76
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 31.4%; rating input score 31
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 12th 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: 2 of 9 controls in place; rating input score 22
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 68.6%; rating input score 96; 96th percentile among comparable filings
  • Total-asset coverage ratio: 47.52; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0.48; rating input score 16; 16th percentile among comparable filings
  • Officer compensation ratio: 176.4%; rating input score 0; 0th percentile among comparable filings

Growth

  • Program expense growth: -5.3% per year; rating input score 0; 7th percentile among comparable filings
  • Revenue growth: -0.1% per year; rating input score 0; 14th percentile among comparable filings
  • Asset growth: 0.5% per year; rating input score 100; 19th percentile among comparable filings

Details

  • Where the money goes: 31.4% of revenue deployed · 100% of spending went to programs
  • Governance: 0 of 3 board members independent · 2 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $203K in reported program spending
  • Leadership: top reported pay $1M · 4 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 14 of 15 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 10 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 43 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 31/100.
  • High — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Accountability: Governance controls: 7 of 9 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 16/100.