White's Livery Housing Development Fund Company Inc

Nonprofit profile at a glance

EIN
352422011
IRS 990 coverage
2017–2024
Forms available
Form 990 2024
Location
Buffalo, NY, USA
Phone
7168852344
Rating
68
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$104,764
Expenses
$230,895
Assets
$2,393,278
Liabilities
$3,333,490

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

Leadership & pay

6 people listed

Executive titles in this filing

  • Clarence Simmons (CEO)

Highest reported compensation

  • Clarence Simmons (CEO): $182,000 total reported compensation
  • La'Dia Hutchen (Member): $87,887 total reported compensation
  • Adriana Eastlack Director of (Finance (Through 5/24)): $54,154 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Provide Housing for Low Income or Visually/Hearing Impaired Tenants

What it reported doing in 2024

Rental of 14 unit apartment complex. All tenants qualify as low income or visually/hearing impaired.

Operating model

Revenue model
Earned-program. 82% 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 the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 60
  • Accountability: 47
  • Sustainability: 32
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 96%; rating input score 96
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 33.3%; rating input score 33; 15th percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 67
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -120.4%; rating input score 2; 2nd percentile among comparable filings
  • Total-asset coverage ratio: 10.37; rating input score 90; 90th percentile among comparable filings
  • Liabilities to assets ratio: 1.39; rating input score 3; 3rd percentile among comparable filings
  • Officer compensation ratio: 3.6%; rating input score 34; 34th percentile among comparable filings

Growth

  • Program expense growth: 1% per year; rating input score 100; 35th percentile among comparable filings
  • Revenue growth: 1.1% per year; rating input score 100; 29th percentile among comparable filings
  • Asset growth: -3.9% per year; rating input score 0; 12th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 96% of spending went to programs
  • Governance: 1 of 3 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $222K in reported program spending
  • Leadership: top reported pay $182K · 6 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 20 of 20 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 8 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 12 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.
  • Moderate — Accountability: Independent voting board scored 33/100.
  • Review — Accountability: Governance controls: 3 of 9 not reported.
  • High — Sustainability: Operating margin scored 2/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 3/100.
  • Moderate — Sustainability: Officer compensation ratio scored 34/100.