Westhab Inc

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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

1981

Legal Domicile

Principal Officer

Richard Nightingale

Phone

9143452800

Tax Period

2023-01-01 to 2023-12-31

Westhab Inc, founded in 1981, is a major nonprofit in the Housing & Shelter sector that reported $151.3M in total revenue in fiscal year 2023. Revenue surged 36% from the prior year, signaling strong growth momentum.

Mission

"WESTHAB'S MISSION IS: BUILDING COMMUNITIES, CHANGING LIVES." WE PROVIDE SAFE, AFFORDABLE HOUSING TO ENABLE HOMELESS AND LOW-INCOME INDIVIDUALS AND FAMILIES TO BECOME SELF-SUFFICIENT, AND TO FURTHER THE PHYSICAL, SOCIAL AND ECONOMIC STABILITY OF DISTRESSED NEIGHBORHOODS BY DEVELOPING AFFORDABLE HOUSING, REVITALIZING COMMUNITIES, AND PROVIDING CRITICALLY NEEDED ADULT AND YOUTH SERVICES.

Program Service Accomplishments

Program 1

Expenses: $25,744,951 Revenue: $3,457,750

HOUSING SERVICES AND OPERATIONS (See attached Schedule O)

Program 2

Expenses: $111,529,133

SHELTER OPERATIONS (See attached Schedule O)

Program 3

Expenses: $1,508,096

EMPLOYMENT SERVICES (See attached Schedule O)

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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 $143,300,879

Program Service Revenue $5,721,144

Investment Income $2,268,175

Other Revenue $7,887

TOTAL REVENUE $151,298,085

Expense Breakdown

Grants Paid $0

Salaries & Benefits $66,913,303

Fundraising Expenses $473,801

Program Expenses $139,834,119

Other Expenses $83,457,119

TOTAL EXPENSES $150,370,422

Year-over-Year Comparison

	2023	2022	Change
Revenue	$151,298,085	$111,319,786	+0.4%
Expenses	$150,370,422	$109,762,740	+0.4%
Net Income	$927,663	$1,557,046	-0.4%

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

2079

Volunteers

300

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

$1,597,799

Total Directors

Key Employees

$1,721,072

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RICHARD NIGHTINGALE	PRESIDENT & CEO	35.0	Officer	$459,836	$47,618	$507,454
JAMES COUGHLIN	CHIEF OPERATING OFFICER	35.0	Officer	$340,599	$50,110	$390,709
ANDREW GREMANSKY	SR. VICE PRESIDENT REAL ESTATE	35.0	Officer	$312,391	$48,135	$360,526
PATRICIA VITELLI	SR. VP, FINANCE AND ADMIN	35.0	Officer	$292,376	$46,734	$339,110
STEVE MYRTHIL	VICE PRESIDENT OF MIS	35.0	Key Emp	$201,557	$40,377	$241,934
JINJA CUEVAS	VP OF HUMAN RESOURCES	35.0	Key Emp	$201,792	$39,154	$240,946
STEPHANIE VIOLA	AVP OF ACCOUNTING	35.0	Key Emp	$192,736	$39,760	$232,496
VALERIE C SMITH	Vice President of NYC Shelters	35.0	Key Emp	$205,030	$24,738	$229,768
EMILY BEHAN	VICE PRESIDENT OF DEVELOPMENT	35.0	Key Emp	$204,560	$10,386	$214,946
SAMANTHA VALENCIA	AVP OF PROPERTY AND ASSET MGMT	35.0	Key Emp	$167,928	$37,140	$205,068
JESSE JOHNSON	AVP OF DATA & QUALITY ASSURANC	35.0	Key Emp	$153,663	$36,453	$190,116
JACQUELINE MAURNO	DIR OF RISK MANAGEMENT	35.0	Highest	$147,213	$31,420	$178,633
TRACY RHETT	AVP - Youth & EMP. SERVICES	35.0	Key Emp	$154,340	$11,458	$165,798
NICOLE MYLAN	AVP OF FAMILY SHELTERS	35.0	Highest	$136,431	$19,936	$156,367
ELISSA RAMOS	AVP OF SUPPORT SERVICES	35.0	Highest	$139,723	$10,435	$150,158
DEJVI NDRECA	DIRECTOR OF CONSTRUCTION MNGT	35.0	Highest	$141,782	$1,011	$142,793
DWAN STARK	SENIOR PROJECT MANAGER	35.0	Highest	$136,771	$5,441	$142,212
JESSE KRASNOW	CHAIR	2.0	Officer Director	$0	$0	$0
ROBERT H PETROCELLI JR	FIRST VICE CHAIR	2.0	Officer Director	$0	$0	$0
CESAR F PEREIRA	SECOND VICE CHAIR	2.0	Officer Director	$0	$0	$0
JEFFERSON C BOYCE	SECRETARY	2.0	Officer Director	$0	$0	$0
PAUL TUROVSKY	TREASURER	2.0	Officer Director	$0	$0	$0
BETSY HILLS BUSH	DIRECTOR	2.0	Director	$0	$0	$0
JAMES FOY	DIRECTOR	2.0	Director	$0	$0	$0
AL GUTIERREZ	DIRECTOR	2.0	Director	$0	$0	$0
KEN HANAU	DIRECTOR	2.0	Director	$0	$0	$0
DANIELLA JACKSON	DIRECTOR	2.0	Director	$0	$0	$0
JONALIE KORENGOLD	DIRECTOR	2.0	Director	$0	$0	$0
DANIEL MAGIDSON	DIRECTOR	2.0	Director	$0	$0	$0
FREDERICK K MEHLMAN	DIRECTOR	2.0	Director	$0	$0	$0
SETH L ROSEN	DIRECTOR	2.0	Director	$0	$0	$0
DANIEL SARMIENTO	DIRECTOR	2.0	Director	$0	$0	$0
DONNA JAKUBOVITZ SPECTOR	DIRECTOR	2.0	Director	$0	$0	$0
RICHARD ST PAUL ESQ	DIRECTOR	2.0	Director	$0	$0	$0
NICOLA STANDARD	DIRECTOR	2.0	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	$151,298,085	$150,370,422	$377,666,758	$927,663
2022	$111,319,786	$109,762,740	$322,845,331	$1,557,046
2021	$108,606,814	$91,336,374	$114,731,576	$17,270,440
2020	$84,600,043	$76,525,264	$91,447,884	$8,074,779
2019	$55,038,237	$49,993,782	$81,062,318	$5,044,455
2018	$45,181,344	$42,537,899	$67,934,980	$2,643,445