Timon Towers Housing Development Fund Company Inc

Nonprofit profile at a glance

EIN
161075435
IRS 990 coverage
2011–2025
Forms available
Form 990 2025
Location
Buffalo, NY, USA
Phone
7168471635
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$1,305,758
Expenses
$1,131,954
Assets
$3,375,440
Liabilities
$3,173,866

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

Leadership & pay

7 people listed

Executive titles in this filing

  • DEACON STEVE SCHUMER (PRESIDENT)
  • REV PETER J KARALUS (VICE PRESIDENT)

People named in this filing

  • DEACON STEVE SCHUMER (PRESIDENT)
  • REV PETER J KARALUS (VICE PRESIDENT)
  • ALBERT GRESS (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

To provide low-income housing.

What it reported doing in 2025

To provide elderly, handicapped, and persons of low-income with housing facilities and services specifically to meet their physical, social, and psychological needs.

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

SUPPORTED - The filed numbers largely add up and most voting board members are independent. Some filing-based governance responses are negative or unanswered and liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 57
  • Transparency & Controls: 90
  • Accountability: 94
  • Sustainability: 61
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 60.7%; rating input score 61
  • Program expense ratio: 70.3%; rating input score 70
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 13.3%; rating input score 62; 62nd percentile among comparable filings
  • Total-asset coverage ratio: 2.98; rating input score 75; 75th percentile among comparable filings
  • Liabilities to assets ratio: 0.94; rating input score 5; 5th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 78; 78th percentile among comparable filings

Growth

  • Program expense growth: 1% per year; rating input score 100; 18th percentile among comparable filings
  • Revenue growth: 0.8% per year; rating input score 100; 14th percentile among comparable filings
  • Asset growth: 4.5% per year; rating input score 100; 33rd percentile among comparable filings

Details

  • Where the money goes: 60.7% of revenue deployed · 70.3% of spending went to programs
  • Governance: 7 of 7 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $795K in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 30 of 30 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 15 filing years from 2011 to 2025
  • Contacts: How to reach this organization
  • Related organizations: 3 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: Form 990 shared with the board not reported.
  • High — Sustainability: Liabilities to assets ratio scored 5/100.