NEIGHBORHOOD HOUSING SERVICES OF NEW HAVEN INC (EIN 061021268) - 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

1979

Legal Domicile

Principal Officer

DR JAMES PALEY

Phone

2035620598

Tax Period

2024-01-01 to 2024-12-31

NEIGHBORHOOD HOUSING SERVICES OF NEW HAVEN INC, founded in 1979, is a community nonprofit in the Housing & Shelter sector that reported $2.5M in total revenue in fiscal year 2024. Revenue fell 44% from the prior year — a significant decline worth monitoring. Expenses of $3.1M exceeded revenue, resulting in a 26% operating deficit.

Mission

COMMUNITY BASED HOUSING PROGRAM DESIGNED TO STABILIZE NEIGHBORHOODS MAINLY THROUGH LOANS TO HOME OWNERS UNABLE TO OBTAIN ALTERNATIVE FINANCING AND CONSTRUCTION AND REHABILITATION OF HOUSING, RELATED SERVICES INCLUDE TECHNICAL ASSISTANCE, FINANCIAL COUNSELING, AND REFERRAL SERVICES.

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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 (2024)

Revenue Breakdown

Contributions & Grants $960,830

Program Service Revenue $1,202,021

Investment Income $12,251

Other Revenue $303,744

TOTAL REVENUE $2,478,846

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,603,502

Fundraising Expenses $248,841

Program Expenses $2,093,755

Other Expenses $1,529,475

TOTAL EXPENSES $3,132,977

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,478,846	$4,399,353	-0.4%
Expenses	$3,132,977	$3,964,154	-0.2%
Net Income	$-654,131	$435,199	-2.5%

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

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

Total Directors

$176,600

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DR JAMES PALEY	EXECUTIVE DI	40.00	Director	$143,038	$33,562	$176,600
BRIDGETTE RUSSELL	MANAGING DIR	40.00	Highest	$119,038	$15,534	$134,572
NATHAN BIXBY	BOARD MEMBER	2.00	Director	$0	$0	$0
GLENN DAVIS	BOARD MEMBER	2.00	Director	$0	$0	$0
DEIRDRE DESHIELDS	BOARD MEMBER	2.00	Director	$0	$0	$0
ROBERT FILIPPONE	BOARD MEMBER	2.00	Director	$0	$0	$0
OLIVER GAFFNEY	BOARD MEMBER	2.00	Director	$0	$0	$0
DENSILL GREAVES	BOARD MEMBER	2.00	Director	$0	$0	$0
CAROL HELLER	VICE PRESIDE	2.00	Officer Director	$0	$0	$0
LOUIS M HART MD	BOARD MEMBER	2.00	Director	$0	$0	$0
SARAH MCQUEEN	TREASURER	2.00	Officer Director	$0	$0	$0
MINA MINELLI	BOARD MEMBER	2.00	Director	$0	$0	$0
MONIKA MITTELHOLZER	BOARD MEMBER	2.00	Director	$0	$0	$0
JACQUELYN PHEANIOUS	BOARD MEMBER	2.00	Director	$0	$0	$0
JESSE PHILLIPS	BOARD MEMBER	2.00	Director	$0	$0	$0
LESLIE RADCLIFFE	PRESIDENT	2.00	Officer Director	$0	$0	$0
VIRGINIA STEVENSON	SECRETARY	2.00	Officer Director	$0	$0	$0
ALEXIS WILLOUGHBY-ROBINSON	BOARD MEMBER	2.00	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	$2,478,846	$3,132,977	$5,464,954	$-654,131
2023	$4,399,353	$3,964,154	$6,336,583	$435,199
2022	$2,400,821	$2,060,975	$4,922,604	$339,846
2021	$2,148,185	$2,460,340	$6,243,957	$-312,155
2019	$3,808,593	$1,457,506	$7,323,376	$2,351,087
2018	$3,443,656	$5,633,996	$6,231,565	$-2,190,340

NEIGHBORHOOD HOUSING SERVICES OF NEW HAVEN INC