Wartburg Housing Development Fund Corporation
Nonprofit profile at a glance
- EIN
- 113051052
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Scarsdale, NY, USA
- Phone
- 9143656365
- Rating
- 75
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Housing Support
Reported finances
- Revenue
- $1,660,608
- Expenses
- $1,722,095
- Assets
- $2,074,115
- Liabilities
- $3,156,769
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
7 people listed
Executive titles in this filing
- LARAINE FELLEGARA (CEO)
Highest reported compensation
- LARAINE FELLEGARA (CEO): $577,929 total reported compensation
- KATHLEEN MCEVOY (DIRECTOR OF FINANCE): $177,760 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To provide low income housing to the senior/elderly population.
What it reported doing in 2024
To provide 87 units of independent living, hud subsidized housing for elderly people ages 62 and older.
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 - A large share of available resources goes toward mission work and most voting board members are independent. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 78
- Transparency & Controls: 60
- Accountability: 100
- Sustainability: 33
- Growth: 80
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 88.9%; rating input score 89
- Program expense ratio: 85.8%; rating input score 86
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: 0 of 6 controls in place; rating input score 0
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Missing
- 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: 9 of 9 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -3.7%; rating input score 26; 26th percentile among comparable filings
- Total-asset coverage ratio: 1.2; rating input score 49; 49th percentile among comparable filings
- Liabilities to assets ratio: 1.52; rating input score 3; 3rd percentile among comparable filings
- Officer compensation ratio: 4.9%; rating input score 53; 53rd percentile among comparable filings
Growth
- Program expense growth: 3.8% per year; rating input score 100; 36th percentile among comparable filings
- Revenue growth: 5% per year; rating input score 100; 44th percentile among comparable filings
- Asset growth: -2.8% per year; rating input score 0; 10th percentile among comparable filings
Details
- Where the money goes: 88.9% of revenue deployed · 85.8% of spending went to programs
- Governance: 4 of 4 board members independent · 9 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $1.5M in reported program spending
- Leadership: top reported pay $578K · 7 people listed · 0 of 6 pay-setting controls reported
- Highest-paid contractors: 1 contractor listed · $265K reported
- Consistency: 32 of 32 current checks pass
- Schedules: 5 filed schedules · includes executive pay
- Filing history: 15 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Related organizations: 10 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.
- High — Transparency & Controls: Pay-setting controls scored 0/100.
- High — Sustainability: Operating margin scored 26/100.
- High — Growth: Asset growth scored 0/100.
- Moderate — Sustainability: Total-asset coverage ratio scored 49/100.
- High — Sustainability: Liabilities to assets ratio scored 3/100.
- Review — Sustainability: Officer compensation ratio scored 53/100.