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St Philips on the Park Housing Development Fund Corp

EIN 11-2396480 · New York, NY

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthWeak38 out of 100GovernanceGood78 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

ST PHILIPS ON THE PARK HOUSING DEVELOPMENT FUND CORPORATION (THE "CORPORATION") WAS FORMED FOR THE CHARITABLE PURPOSE OF CONDUCTING ACTIVITIES THAT FACILITATE AND PROMOTE THE OPERATION OF AFFORDABLE HOUSING. IN FURTHERANCE OF THESE PURPOSES, THE CORPORATION PROMOTES AND FACILITATES LOW-INCOME HOUSING BY PARTICIPATING IN THE OWNERSHIP AND MANAGEMENT OF A LOW-INCOME HOUSING PROJECT ('PROJECT'). THE PROJECT IS LOCATED AT 480 ST. NICHOLAS AVENUE, NEW YORK, NEW YORK 10030 AND CONSISTS OF CONSISTS OF 260 UNITS.

Income
$411,256
Spending
$421,909
Spent on programs
100%
Reserves
0.1 months of spending
Largest source of income
fees for its services, 100%
Employees
7
Volunteers
5
Highest pay
$110,342, maintenance

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Weak: 38 out of 100. Higher than 5% of charities in its peer group (philanthropy, $250k to $1m).

  • Reserves

    4 of 35

    Spendable reserves would cover 0.1 months of spending.

  • Debt

    5 of 20

    It owes 67% of what it owns.

  • Living within its means

    8 of 15

    Spending exceeded income by 3% of income.

  • Spending floor

    15 of 15

    100% of spending went to programs.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Good: 78 out of 100. Higher than 56% of charities in its peer group (philanthropy, $250k to $1m).

  • Independent board

    25 of 25

    5 of 5 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    0 of 8

    Reports no written whistleblower policy.

  • Record keeping policy

    7 of 7

    Has a written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    0 of 5

    Reports no independent review process for its chief executive's pay.

  • Independent check of accounts

    6 of 15

    Its accounts were not audited or reviewed by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (1)
  1. $421,909 spent. ST PHILIPS ON THE PARK HOUSING DEVELOPMENT FUND CORPORATION ('CORPORATION') WAS FORMED FOR THE CHARITABLE PURPOSE OF CONDUCTING ACTIVITIES THAT FACILITATE AND PROMOTE THE OPERATION OF AFFORDABLE HOUSING. IN FURTHERANCE OF THESE PURPOSES, THE CORPORATION PROMOTES AND FACILITATES LOW-INCOME HOUSING BY PARTICIPATING IN THE OWNERSHIP AND MANAGEMENT OF A LOW-INCOME HOUSING PROJECT ('PROJECT'). THE PROJECT IS LOCATED AT 480 ST. NICHOLAS AVENUE, NEW YORK, NEW YORK 10030 AND CONSISTS OF CONSISTS OF 260 UNITS: 52 ONE-BEDROOM, 121 TWO-BEDROOM, 70 THREE-BEDROOM AND 17 FOUR-BEDROOM UNITS. CURRENTLY, THE UNITS HAVE THE FOLLOWING OCCUPANCY:NUMBER OF UNITS OCCUPIED BY EXTREMELY LOW (30 PERCENT) INCOME -132NUMBER OF UNITS OCCUPIED BY VERY LOW (50 PERCENT) INCOME - 63NUMBER OF UNITS OCCUPIED BY LOW (80 PERCENT) INCOME -36NUMBER OF UNITS OCCUPIED BY MODERATE INCOME (81 PERCENT-120 PERCENT) INCOME - 21NUMBER OF UNITS OCCUPIED BY MIDDLE INCOME (121 PERCENT) - 3NUMBER OF UNITS CURRENTLY VACANT - 4NUMBER OF UNITS OCCUPIED BY THE BUILDING SUPERINTENDENT -1

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Worth knowing.

    Status was revoked on November 15, 2010 for not filing returns for three years, and reinstated on June 15, 2024.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated October 13, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending December 2024.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since March 2025.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 21, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.