New Destiny Housing

Legal name: Prelude Si Corporation

Nonprofit profile at a glance

EIN
883337473
IRS 990 coverage
2022–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024
Location
New York, NY, USA
Phone
(212) 222-1234
Rating
48
Verdict
MIXED
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$253,502
Expenses
$289,744
Assets
$691,012
Liabilities
$155,885

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

Leadership & pay

5 people listed

Executive titles in this filing

  • NICOLE BRANCA (CHIEF EXECUTIVE OFFICER/TREASURER)

Highest reported compensation

  • NICOLE BRANCA (CHIEF EXECUTIVE OFFICER/TREASURER): $202,757 total reported compensation
  • JOSEPH KAZINDUKA (CFO THRU MAY 2025): $140,822 total reported compensation

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

Overview

Mission

To provide affordable housing and supportive services to individuals and families in need, fostering stable communities and self-sufficiency.

What it reported doing in 2024

Prelude owns an emergency shelter facility consisting of 35 beds, which is operating under a lease with another non-for-profit organization

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

MIXED - Most voting board members are independent and program spending has grown recently. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 27
  • Transparency & Controls: 56
  • Accountability: 67
  • Sustainability: 33
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 32.4%; rating input score 32
  • Program expense ratio: 28.3%; rating input score 28
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 25th 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: Limited
  • Related-party transparency: No; rating input score 0

Accountability

  • Independent voting board: 66.7%; rating input score 67; 18th 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: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -14.3%; rating input score 18; 18th percentile among comparable filings
  • Total-asset coverage ratio: 2.38; rating input score 63; 63rd percentile among comparable filings
  • Liabilities to assets ratio: 0.23; rating input score 19; 19th percentile among comparable filings
  • Officer compensation ratio: 11.1%; rating input score 28; 28th percentile among comparable filings

Growth

  • Program expense growth: 41.1% per year; rating input score 100; 94th percentile among comparable filings
  • Revenue growth: 37% per year; rating input score 100; 95th percentile among comparable filings
  • Asset growth: 4.9% per year; rating input score 100; 46th percentile among comparable filings

Details

  • What they do: Mission, programs, and operating context captured from the official website.
  • Where the money goes: 32.4% of revenue deployed · 28.3% of spending went to programs
  • Governance: 2 of 3 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $82K in reported program spending
  • Leadership: top reported pay $203K · 5 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 19 of 20 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 24 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 32/100.
  • High — Financial Efficiency: Program expense ratio scored 28/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 3 of 9 not reported.
  • High — Transparency & Controls: Related-party transparency scored 0/100.
  • High — Sustainability: Operating margin scored 18/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 19/100.
  • High — Sustainability: Officer compensation ratio scored 28/100.