LAKEVIEW HOUSING DEVELOPMENT FUND … - Form 990 Financial Data

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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

1999

Legal Domicile

Principal Officer

RICHARD WEISS

Phone

8452258493

Tax Period

2025-01-01 to 2025-12-31

LAKEVIEW HOUSING DEVELOPMENT FUND CO INC, founded in 1999, is a small nonprofit in the Housing & Shelter sector that reported $236K in total revenue in fiscal year 2025. Expenses of $358K exceeded revenue, resulting in a 51% operating deficit.

Mission

TO DEVELOP AND OPERATE A 24-UNIT HOUSING PROJECT FOR ELDERLY PERSONS OF LOW INCOME IN THE TOWN OF CARMEL, NEW YORK.

Program Service Accomplishments

Program 1

Expenses: $294,004 Revenue: $134,533

OPERATION OF HOUSING UNITS LOCATED IN CARMEL, NEW YORK FOR LOW INCOME SENIOR CITIZENS.

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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 (2025)

Revenue Breakdown

Contributions & Grants $100,509

Program Service Revenue $134,533

Investment Income $97

Other Revenue $1,244

TOTAL REVENUE $236,383

Expense Breakdown

Grants Paid $0

Salaries & Benefits $72,179

Fundraising Expenses $0

Program Expenses $294,004

Other Expenses $285,469

TOTAL EXPENSES $357,648

Year-over-Year Comparison

	2025	2024	Change
Revenue	$236,383	$228,704	+0.0%
Expenses	$357,648	$342,150	+0.0%
Net Income	$-121,265	$-113,446	+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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOEL GREENBERG	PRESIDENT	0.25	Officer Director	$0	$0	$0
CONSTANCE FAGAN	VICE PRESIDENT	0.25	Officer Director	$0	$0	$0
MARGORIE SCHNEIDER	SECRETARY	0.25	Officer Director	$0	$0	$0
RICHARD WEISS	TREASURER	0.25	Officer Director	$0	$0	$0
BARBARA SCUCCIMARRA	DIRECTOR	0.25	Director	$0	$0	$0
DEACON JOHN SCARFI	DIRECTOR	0.25	Director	$0	$0	$0
EDWARD SCHAFFER	DIRECTOR	0.25	Director	$0	$0	$0
RABBI SARAH FREIDSON	DIRECTOR	0.25	Director	$0	$0	$0
SAM OLIVERIO	DIRECTOR	0.25	Director	$0	$0	$0
CHRISTIAN RUSSO	DIRECTOR	0.25	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
2025	$236,383	$357,648	$1,467,203	$-121,265
2024	No data	No data	No data	No data
2023	$502,795	$335,905	$1,697,035	$166,890
2022	$201,466	$306,006	$1,526,829	$-104,540
2021	$277,384	$306,272	$1,636,523	$-28,888
2020	$279,809	$288,855	$1,752,380	$-9,046
2019	$276,192	$288,660	$1,853,205	$-12,468
2018	$274,135	$293,367	$1,953,641	$-19,232

LAKEVIEW HOUSING DEVELOPMENT FUND CO INC