West Farms Neighborhood Hdfc Inc C/o Michael Comerford

Nonprofit profile at a glance

EIN
132677156
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Garden City, NY, USA
Phone
5162484817
Rating
64
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Low-Income & Subsidized Rental Housing

Reported finances

Revenue
$908,814
Expenses
$125,585
Assets
$27,446,819
Liabilities
$2,756,218

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

Leadership & pay

4 people listed

Executive titles in this filing

  • MONSIGNOR KEVIN SULLIVAN (PRESIDENT/DIRECTOR)

People named in this filing

  • MONSIGNOR KEVIN SULLIVAN (PRESIDENT/DIRECTOR)
  • GEORGE HORTON (TREASURER/DIRECTOR)
  • DAVID BROWN (DIRECTOR)

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 act as co-developer, facilitate, participate, and assist the developer in the rehabilitation and development of affordable housing projects.

What it reported doing in 2024

Acted as co-developer, facilitated, participated, and assisted the developer in the rehabilitation and development of affordable housing projects.

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. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 23
  • Transparency & Controls: 90
  • Accountability: 94
  • Sustainability: 90
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 7.5%; rating input score 8
  • Program expense ratio: 55.2%; rating input score 55
  • 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; 63rd 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 86.2%; rating input score 98; 98th percentile among comparable filings
  • Total-asset coverage ratio: 218.55; rating input score 100; 100th percentile among comparable filings
  • Liabilities to assets ratio: 0.1; rating input score 42; 42nd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 2.9% per year; rating input score 100; 31st percentile among comparable filings
  • Revenue growth: 3.4% per year; rating input score 100; 34th percentile among comparable filings
  • Asset growth: 3.1% per year; rating input score 100; 30th percentile among comparable filings

Details

  • Where the money goes: 7.5% of revenue deployed · 55.2% of spending went to programs
  • Governance: 4 of 4 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $69K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 16 of 16 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 6 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • 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 — Financial Efficiency: Mission deployment rate scored 8/100.
  • Review — Financial Efficiency: Program expense ratio scored 55/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Moderate — Sustainability: Liabilities to assets ratio scored 42/100.