St David's Housing Development Fund Company Inc
Nonprofit profile at a glance
- EIN
- 222847117
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Syracuse, NY, USA
- Phone
- 3154241821
- Rating
- 81
- Verdict
- STRONG
- Rating confidence
- Moderate
Reported finances
- Revenue
- $351,046
- Expenses
- $374,491
- Assets
- $1,067,213
- Liabilities
- $1,304,106
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
9 people listed
Executive titles in this filing
- JUSTIN RUDGICK (PRESIDENT)
People named in this filing
- JUSTIN RUDGICK (PRESIDENT)
- AUDREY FARWAGI (SECRETARY)
- KYLE LYSKAWA (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 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The corporation was organized soley and specifically to develop, own and operate a low-income housing project on a nonprofit basis pursuant to section 202 of the national housing act.
What it reported doing in 2024
Operation of a 23-unit low-income housing project on a nonprofit basis pursuant to section 202 of the national housing act.
Operating model
- Revenue model
- Earned-program. 99% 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
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 77
- Transparency & Controls: 90
- Accountability: 88
- Sustainability: 41
- Growth: 80
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 88.8%; rating input score 89
- Program expense ratio: 83.5%; rating input score 83
- 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; 63rd 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: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Fail
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -6.7%; rating input score 27; 27th percentile among comparable filings
- Total-asset coverage ratio: 2.85; rating input score 68; 68th percentile among comparable filings
- Liabilities to assets ratio: 1.22; rating input score 4; 4th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings
Growth
- Program expense growth: 4.4% per year; rating input score 100; 51st percentile among comparable filings
- Revenue growth: 1.4% per year; rating input score 100; 31st percentile among comparable filings
- Asset growth: -1.3% per year; rating input score 0; 20th percentile among comparable filings
Details
- Where the money goes: 88.8% of revenue deployed · 83.5% of spending went to programs
- Governance: 13 of 13 board members independent · 5 of 7 filing controls reported
- Programs: 1 filed program accomplishment · $313K in reported program spending
- Leadership: top reported pay $0 · 9 people listed
- Consistency: 28 of 28 current checks pass
- Schedules: 3 filed schedules
- Filing history: 15 filing years from 2010 to 2024
- 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.
Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.
- Review — Accountability: Governance controls: 2 of 7 not reported.
- High — Sustainability: Operating margin scored 27/100.
- High — Growth: Asset growth scored 0/100.
- High — Sustainability: Liabilities to assets ratio scored 4/100.
- High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.