Washington Heights and Inwood Development Corporation

Nonprofit profile at a glance

EIN
132950346
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
New York, NY, USA
Phone
3322086465
Rating confidence
Limited
Sector
Urban, Community Economic Development

Reported finances

Revenue
$0
Expenses
$0
Assets
$221,875
Liabilities
$1,186,960

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • JAHAIRA GUERRERO (EXECUTIVE DIRECTOR)

People named in this filing

  • JOSEPH LAUFER (CHAIRPERSON)
  • MAGDA SOUFFRONT (SECRETARY)
  • MARIA LUNA (BOARD MEMBER)

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

To support and foster an environment for economic development andprovide entrepreneuralcultural, recreational and employmentopportunities for all those wholive or work in the Washington heights, inwood section of northern manhattan.

What it reported doing in 2024

Business assitance -the b0$$ program focuses on the delivery of capital, technicalassistance and referral services to businesses with 10 employees orless an annual gross income of less than $500,000 (micro enterprises).the organization is a certified community development financialinstitution ("cdfi") and has made over 370 loans totaling over $5.6million since the loan programs inception in 1995. Loans range from$100 to $50,000. Two thirds of the loans have gone to small storefrontbusinesses with the balance going to street vendors and in-homebusinesses. A third of the loans go to startup businesses. Of the loansto individuals, 96% have gone to minority and women owned businesses.these loans have created over 420 full-time jobs and 130 new businessesin the community.entrepreneurial assistance assists over 200 clients annually with oneon one business counseling and technical assistance

Operating model

Revenue model
No positive adjusted resources. The filing reports no positive adjusted operating resources.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 84
  • Accountability: 88
  • Sustainability: 0
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 25th 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: 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: Limited
  • Total-asset coverage ratio: Limited
  • Liabilities to assets ratio: 5.35; rating input score 1; 1st percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: -7% per year; rating input score 0; 34th percentile among comparable filings
  • Revenue growth: -9.2% per year; rating input score 0; 33rd percentile among comparable filings
  • Asset growth: -13.9% per year; rating input score 0; 10th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 7 of 7 board members independent · 5 of 7 filing controls reported
  • Programs: 2 filed program accomplishments
  • Leadership: top reported pay $0 · 8 people listed
  • Consistency: 12 of 13 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules
  • Filing history: 10 filing years from 2014 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.

  • High — Sustainability: Liabilities to assets ratio scored 1/100.
  • Moderate — Transparency & Controls: Series filing activity did not reconcile in the filed values.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Growth: Asset growth scored 0/100.