Rivertown Housing Development Fund Co Inc
Nonprofit profile at a glance
- EIN
- 222767974
- IRS 990 coverage
- 2011–2025
- Forms available
- Form 990 2025
- Location
- Athens, NY, USA
- Phone
- 5189451751
- Rating
- 81
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Senior Citizens' Housing/Retirement Communities
Reported finances
- Revenue
- $409,568
- Expenses
- $501,045
- Assets
- $1,831,593
- Liabilities
- $3,218,494
Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.
Leadership & pay
6 people listed
Executive titles in this filing
- PAUL SALVINO (PRESIDENT)
People named in this filing
- ED BLOOMER (TRUSTEE/DIRE)
- TAMI BONE (TRUSTEE/DIRE)
- MARY BRANDOW (TREASURER)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Low-income senior housing - to own, operate, and manage senior citizen apartment projects under fmha guidelines - 52 units.
What it reported doing in 2025
The organization has successfully operated the 52 unit senior citizen apartment projects with an average of less than 1 vacancy per month. This is the sole program of the organization.
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.
- Includes noncash contributions: Reported contributions include donated property or goods.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and program spending has declined or grown slowly.
Rating breakdown
- Financial Efficiency: 81
- Transparency & Controls: 90
- Accountability: 94
- Sustainability: 34
- Growth: 20
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 98%; rating input score 98
- Program expense ratio: 80.1%; rating input score 80
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
- Governance controls: 6 of 7 controls in place; rating input score 86
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- Document-retention policy: Pass
- CEO compensation review process: NotApplicable
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -22.3%; rating input score 10; 10th percentile among comparable filings
- Total-asset coverage ratio: 3.66; rating input score 73; 73rd percentile among comparable filings
- Liabilities to assets ratio: 1.76; rating input score 2; 2nd percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 67; 67th percentile among comparable filings
Growth
- Program expense growth: -0.5% per year; rating input score 0; 27th percentile among comparable filings
- Revenue growth: -0.7% per year; rating input score 0; 18th percentile among comparable filings
- Asset growth: 2.4% per year; rating input score 100; 32nd percentile among comparable filings
Details
- Where the money goes: 98% of revenue deployed · 80.1% of spending went to programs
- Governance: 6 of 6 board members independent · 6 of 7 filing controls reported
- Programs: 1 filed program accomplishment · $402K in reported program spending
- Leadership: top reported pay $0 · 6 people listed
- Consistency: 25 of 25 current checks pass
- Schedules: 3 filed schedules
- Filing history: 14 filing years from 2011 to 2025
- Contacts: How to reach this organization
- 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 — Sustainability: Operating margin scored 10/100.
- High — Growth: Program expense growth scored 0/100.
- High — Growth: Revenue growth scored 0/100.
- Review — Accountability: Governance controls: Whistleblower policy not reported.
- High — Sustainability: Liabilities to assets ratio scored 2/100.