Tafsc Housing Development Fund Corp

Nonprofit profile at a glance

EIN
481306509
IRS 990 coverage
2011–2016
Forms available
Form 990 2016
Location
Bronx, NY, USA
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$327,561
Expenses
$322,439
Assets
$2,687,122
Liabilities
$316,969

Source: IRS Form 990. Selected filing: tax year 2016. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • JUDITH WILLIAMS (INTERIM PRESIDENT)
  • LINDA WASHINGTON (EXECUTIVE DIRECTOR)

Highest reported compensation

  • LINDA WASHINGTON (EXECUTIVE DIRECTOR): $24,923 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2016. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Provide low income housing to a special population

What it reported doing in 2016

Manage and operate a low income residential property at 1061 hall place bronx, New York for families that have at least one member who is HIV positive.

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

SUPPORTED - 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 program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 69
  • Transparency & Controls: 92
  • Accountability: 69
  • Sustainability: 56
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 77.3%; rating input score 77
  • Program expense ratio: 78.6%; rating input score 79
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 15th 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: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 1.6%; rating input score 46; 46th percentile among comparable filings
  • Total-asset coverage ratio: 8.33; rating input score 88; 88th percentile among comparable filings
  • Liabilities to assets ratio: 0.12; rating input score 32; 32nd percentile among comparable filings
  • Officer compensation ratio: 7.7%; rating input score 36; 36th percentile among comparable filings

Growth

  • Program expense growth: -11% per year; rating input score 0; 16th percentile among comparable filings
  • Revenue growth: 1.3% per year; rating input score 100; 42nd percentile among comparable filings
  • Asset growth: -4.4% per year; rating input score 0; 20th percentile among comparable filings

Details

  • Where the money goes: 77.3% of revenue deployed · 78.6% of spending went to programs
  • Governance: 3 of 3 board members independent · 2 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $253K in reported program spending
  • Leadership: top reported pay $25K · 8 people listed
  • Consistency: 24 of 25 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules
  • Filing history: 5 filing years from 2011 to 2016
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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 — Accountability: Governance controls: 5 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 46/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 32/100.
  • Moderate — Sustainability: Officer compensation ratio scored 36/100.