THE GLENDOWER GROUP INC

EIN: 061637790 501(c)(3) Housing & Shelter

NEW HAVEN, CT

Total Revenue
$4,579,444
Total Expenses
$3,278,444
Total Assets
$23,996,269
Net Assets
$15,243,967
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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
2001
Legal Domicile
CT
Principal Officer
KAREN DUBOIS-WALTON
Phone
2034988800
Tax Period
2023-10-01 to 2024-09-30

THE GLENDOWER GROUP INC, founded in 2001, is a community nonprofit in the Housing & Shelter sector that reported $4.6M in total revenue in fiscal year 2023. Revenue surged 197% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.3M, a strong 28% operating margin.

Mission

THE CORPORATION IS ORGANIZED AND WILL BE OPERATED EXCLUSIVELY FOR CHARITABLE PURPOSES, INCLUDING THE PROMOTION AND ADVANCEMENT OF NEIGHBORHOOD ECONOMIC DEVELOPMENT. FURTHERANCE OF THE FOREGOING PURPOSES, THE CORPORATION'S SPECIFIC PURPOSES SHALL BE: TO SUPPORT REDEVELOPMENT ACTIVITIES OF THE HOUSING AUTHORITY OF THE CITY OF NEW HAVEN FOR THE BENEFIT OF THE LOW INCOME RESIDENTS, NOT PRECLUDING THE CORPORATION FROM ENGAGING IN DEVELOPMENT ACTIVITIES ON ITS OWN AND WITH ENTITIES OTHER THAN THE AUTHORITY, DEVELOP DECENT AND AFFORDABLE HOUSING FOR LOW AND MODERATE INCOME FAMILIES, ACQUISITION, FINANCE AND OTHERWISE DEAL IN AFFORDABLE PROJECTS.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $3,817,573
Investment Income $81,100
Other Revenue $680,771
TOTAL REVENUE $4,579,444

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,777,965
Fundraising Expenses $0
Program Expenses $2,657,569
Other Expenses $1,500,479
TOTAL EXPENSES $3,278,444

Year-over-Year Comparison

2023 2022 Change
Revenue $4,579,444 $1,539,625 +2.0%
Expenses $3,278,444 $5,283,146 -0.4%
Net Income $1,301,000 $-3,743,521 -1.3%
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

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Governance

Voting Members
4
Independent Members
1
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
3
$649,878
Total Directors
4
$649,878
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KAREN DUBOIS-WALTON PRESIDENT 0.10
Officer Director
$0 $0 $257,718
JOHN RAFFERTY DIRECTOR 0.10
Officer Director
$0 $0 $178,516
SHENAE DRAUGHN DIRECTOR 0.10
Officer Director
$0 $0 $213,644
ARTHUR W THOMAS III DIRECTOR 0.10
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 $4,579,444 $3,278,444 $23,996,269 $1,301,000
2023 $1,539,625 $5,283,146 $19,869,891 $-3,743,521
2022 $3,766,863 $3,052,020 $25,040,145 $714,843
2021 $3,601,699 $3,499,190 $23,852,666 $102,509
2020 $4,481,935 $2,269,555 $22,734,403 $2,212,380
2019 $2,901,540 $2,038,563 $24,807,980 $862,977
2018 $5,195,148 $2,948,760 $19,916,822 $2,246,388
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