CABRINI HOUSING DEVELOPMENT FUND CORPORATION (EIN 020663534) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2002

Legal Domicile

Principal Officer

PATRICIA KRASNAUSKY

Phone

2126736262

Tax Period

2023-01-01 to 2023-12-31

CABRINI HOUSING DEVELOPMENT FUND CORPORATION, founded in 2002, is a small nonprofit that reported $933K in total revenue in fiscal year 2023. Expenses of $1.2M exceeded revenue, resulting in a 26% operating deficit.

Mission

CABRINI HOUSING DEVELOPMENT FUND CORPORATION (HDFC) BEGAN ITS OPERATIONS IN OCTOBER 2005 TO PROVIDE AFFORDABLE HOUSING TO THE VERY LOW INCOME AND HANDICAPPED, ELDERLY POPULATION. THE GOAL: TO MAXIMIZE RESIDENTS ABILITY TO MAINTAIN THEIR INDEPENDENCE WHILE "AGING IN PLACE." THE RESIDENCE PROVIDES SECURITY, COMMUNITY, AND CONTINUITY, IMPORTANT HOUSING FEATURES FOR AGING RESIDENTS THAT OTHER HOUSING ASSISTANCE PROGRAMS MAY NOT PROVIDE. CONSISTING OF 70 ONE-BEDROOM APARTMENTS, CABRINI HDFC HOUSED 91 RESIDENTS IN 2023, OF WHICH 65 OF THE HOUSEHOLD UNITS ARE CATEGORIZED AS EXTREMELY LOW INCOME (LESS THAN $29,650). VERY LOW INCOME IN THE NYC REGION IS DEFINED AS A HOUSEHOLD WITH AN INCOME OF LESS THAN $49,450 FOR A ONE PERSON HOUSEHOLD AND $56,500 FOR A TWO PERSON HOUSEHOLD.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $672,208

Program Service Revenue $245,681

Investment Income $369

Other Revenue $14,404

TOTAL REVENUE $932,662

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $1,082,453

Other Expenses $1,178,863

TOTAL EXPENSES $1,178,863

Year-over-Year Comparison

	2023	2022	Change
Revenue	$932,662	$875,757	+0.1%
Expenses	$1,178,863	$1,148,818	+0.0%
Net Income	$-246,201	$-273,061	-0.1%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$738,304

Total Directors

$353,707

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PATRICIA KRASNAUSKY	PRESIDENT	0.10	Officer Director	$0	$40,676	$353,707
JAMES MIGLIORE	CHAIR	0.20	Officer Director	$0	$0	$0
SR CATHERINE GARRY MSC	VICE CHAIR	0.10	Officer Director	$0	$0	$0
JAMES LEE ESQ	TREASURER	0.10	Officer Director	$0	$0	$0
SR ARLENE VAN DUSEN MSC	SECRETARY	0.10	Officer Director	$0	$0	$0
DONALD AMORUSO	DIRECTOR	0.10	Director	$0	$0	$0
DEBORAH LYNCH	DIRECTOR	0.10	Director	$0	$0	$0
ROBERT DAVIS KENNEDY MD	DIRECTOR, THRU 12/2023	0.10	Director	$0	$0	$0
DAVID ARDITTI	ASSISTANT TREASURER	0.10	Officer	$0	$89,292	$332,789
JUDY CONNOLLY	ASSISTANT SECRETARY, THRU 07/2023	0.10	Officer	$0	$12,692	$51,808

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$932,662	$1,178,863	$11,416,128	$-246,201
2022	$875,757	$1,148,818	$11,664,805	$-273,061
2021	$846,897	$1,075,740	$11,890,066	$-228,843
2020	$808,998	$1,055,586	$12,104,539	$-246,588
2019	$819,289	$1,037,999	$12,408,071	$-218,710
2018	$766,957	$998,820	$12,546,609	$-231,863

CABRINI HOUSING DEVELOPMENT FUND CORPORATION