Women's Housing & Economic Development Corporation
Nonprofit profile at a glance
- EIN
- 113099604
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Bronx, NY, USA
- Phone
- 7188391100
- Rating
- 85
- Verdict
- STRONG
- Rating confidence
- Standard
- Sector
- Housing Support
Reported finances
- Revenue
- $35,003,601
- Expenses
- $33,064,611
- Assets
- $66,611,432
- Liabilities
- $15,134,948
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
25 people listed
Executive titles in this filing
- DAVON RUSSELL (PRESIDENT AND CEO)
Highest reported compensation
- DAVON RUSSELL (PRESIDENT AND CEO): $466,415 total reported compensation
- DIANA PEREZ (VP HOME-BASED CHILDCARE SERVICES): $386,013 total reported compensation
- DOXENE ROBERTS (VP FAMILY SUPTAND & HOUSING SERVICES): $216,249 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The women's housing and economic development corp. (whedco) is a community development organization founded on the radically simple idea that all people deserve to live in healthy, vibrant communities. Working in the south bronx, whedco builds award-winning, sustainable, affordable homes that serve as anchors for strong communities of which residents can be proud. Whedco's mission is to create and bridge access in the bronx to resources that support thriving neighborhoods - from stable, affordable housing to high-quality early childhood and school-age youth education programs, comprehensive family and community services, business and entrepreneur assistance, and cultural programming.
What it reported doing in 2024
Programs relating to the provision of home-based child care for low-income residents of New York city: whedco supports a professional network of 300 licensed home-based childcare businesses and works with thousands of informal friend-family-neighbor care providers to increase access to high quality affordable childcare across the bronx and nyc. Whedco supports childcare providers through comprehensive professional development training, coaching, technical assistance, program visits, access to the child and adult care food program, mental health services, implementation of research-based curricula and assessment tools to support the development and early learning of children in care.
Operating model
- Revenue model
- Grant-funded. 85% of the money available for current operations came from government grants.
- 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.
- Includes noncash contributions: Reported contributions include donated property or goods.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and reported officer compensation is a large share of total spending, which may reflect staffing concentration.
Rating breakdown
- Financial Efficiency: 76
- Transparency & Controls: 90
- Accountability: 100
- Sustainability: 55
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 76.4%; rating input score 76
- Program expense ratio: 80.2%; rating input score 80
- Fundraising efficiency: $27.31 raised per $1 spent on fundraising; rating input score 64; 64th percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
- Pay-setting controls: 4 of 6 controls in place; rating input score 67
- Compensation committee: Pass
- Independent consultant: Missing
- Other Form 990s reviewed: Pass
- Written employment contract: Missing
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Yes; rating input score 100
Accountability
- Independent voting board: 100%; rating input score 100; 66th 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: 5.5%; rating input score 55; 55th percentile among comparable filings
- Total-asset coverage ratio: 2.01; rating input score 62; 62nd percentile among comparable filings
- Liabilities to assets ratio: 0.23; rating input score 55; 55th percentile among comparable filings
- Officer compensation ratio: 7.3%; rating input score 34; 34th percentile among comparable filings
Growth
- Program expense growth: 4.3% per year; rating input score 100; 37th percentile among comparable filings
- Revenue growth: 7.7% per year; rating input score 100; 64th percentile among comparable filings
- Asset growth: 15.2% per year; rating input score 100; 81st percentile among comparable filings
Details
- Where the money goes: 76.4% of revenue deployed · 80.2% of spending went to programs
- Governance: 14 of 14 board members independent · 9 of 9 filing controls reported
- Programs: 4 filed program accomplishments · $26.5M in reported program spending
- Leadership: top reported pay $466K · 25 people listed · 4 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $1M reported
- Consistency: 38 of 38 current checks pass
- Schedules: 9 filed schedules · includes major donors, executive pay, and related organizations
- Filing history: 15 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 10 filed money-flow records
- Related organizations: 7 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.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Review — Sustainability: Operating margin scored 55/100.
- Moderate — Sustainability: Officer compensation ratio scored 34/100.
- Review — Sustainability: Liabilities to assets ratio scored 55/100.