Riverview Avenue Apartments Housing Development Fund Company Inc

Nonprofit profile at a glance

EIN
474955846
IRS 990 coverage
2017–2025
Forms available
Form 990 2025, Form 990-N 2016
Location
Syracuse, NY, USA
Phone
3154241821
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$313,535
Expenses
$165,685
Assets
$4,076,319
Liabilities
$3,033,846

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

3 people listed

Executive titles in this filing

  • JEFFEREY EYSAMAN (PRESIDENT)
  • MARIE WALSH (VICE PRESIDENT)

People named in this filing

  • JEFFEREY EYSAMAN (PRESIDENT)
  • MARIE WALSH (VICE PRESIDENT)
  • JOHN LUTZ (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

The corporation was organized to develop a housing project for persons of low income where no adequate housing exists for such persons, which project is to be assisted by a "municipally-aided mortgage" as defined in section 572(13) of the private housing finance law through one or more mortgage loans made by the city of cortland "supervising agency, and such other instrumentalities of federal, state and local government as may be necessary to complete the financing for the project.

What it reported doing in 2025

The corporation was organized to develop a housing project for persons of low income where no adequate housing exists for such persons, which project is to be assisted by a "municipally-aided mortgage" as defined in section 572(13) of private housing finance law through one or more mortgage loans made by the city of cortland "supervising agency, and such other instrumentalities of federal, state and local government as may be necessary to complete the financing for the project.

Operating model

Revenue model
Affiliate-supported. 75% of the money available for current operations came from contributions from related organizations.
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

STRONG - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 69
  • Transparency & Controls: 92
  • Accountability: 88
  • Sustainability: 79
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 64.5%; rating input score 65
  • Program expense ratio: 99.1%; rating input score 99
  • 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: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 47.2%; rating input score 89; 89th percentile among comparable filings
  • Total-asset coverage ratio: 24.6; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 0.74; rating input score 6; 6th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 67; 67th percentile among comparable filings

Growth

  • Program expense growth: 4.7% per year; rating input score 100; 50th percentile among comparable filings
  • Revenue growth: 7.1% per year; rating input score 100; 58th percentile among comparable filings
  • Asset growth: 1.9% per year; rating input score 100; 30th percentile among comparable filings

Details

  • Where the money goes: 64.5% of revenue deployed · 99.1% of spending went to programs
  • Governance: 3 of 3 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $164K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 14 of 14 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 8 filing years from 2017 to 2025
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: 2 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.

  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Liabilities to assets ratio scored 6/100.