BRIGHTWOOD DEVELOPMENT CORPORATION (EIN 042622178) - 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

1977

Legal Domicile

Principal Officer

HERIBERTO FLORES

Phone

4132722215

Tax Period

2023-01-01 to 2023-12-31

BRIGHTWOOD DEVELOPMENT CORPORATION, founded in 1977, is a small nonprofit in the Community Improvement sector that reported $327K in total revenue in fiscal year 2023. Expenses of $391K exceeded revenue, resulting in a 19% operating deficit.

Mission

TO PROMOTE ECONOMIC AND COMMUNITY DEVELOPMENT IN THE SPRINGFIELD, MA AREA AND MAYAGUEZ PUERTO RICO THROUGH ON-GOING ASSISTANCE AND SUPPORT IN THE AREAS OF JOB PLACEMENT, NEW AND EXISTING BUSINESS DEVELOPMENT, ENTREPRENEURIAL ACTIVITIES, AND HOUSING.

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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 $0

Program Service Revenue $326,307

Investment Income $704

Other Revenue $0

TOTAL REVENUE $327,011

Expense Breakdown

Grants Paid $0

Salaries & Benefits $71,416

Fundraising Expenses $0

Program Expenses $350,950

Other Expenses $319,254

TOTAL EXPENSES $390,670

Year-over-Year Comparison

	2023	2022	Change
Revenue	$327,011	$343,669	0.0%
Expenses	$390,670	$400,318	0.0%
Net Income	$-63,659	$-56,649	+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

N/A

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

$325,566

Total Directors

$325,566

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Daniel Knapik	Clerk	1.00	Officer Director	$0	$16,300	$192,875
HERIBERTO FLORES	Chairman	1.00	Officer Director	$0	$8,940	$132,691
SUELEIZA K ACEVEDO	Director	1.00	Officer Director	$0	$0	$0
CECILIO RIVERA	Treasurer	1.00	Officer Director	$0	$0	$0

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	$327,011	$390,670	$1,880,672	$-63,659
2022	$343,669	$400,318	$1,917,865	$-56,649
2021	$196,076	$701,697	$1,990,844	$-505,621
2020	$545,164	$655,531	$3,030,658	$-110,367
2019	$528,692	$690,905	$3,502,823	$-162,213
2018	$765,161	$899,123	$3,610,289	$-133,962
2017	$851,196	$953,706	$3,591,237	$-102,510

BRIGHTWOOD DEVELOPMENT CORPORATION