PHIPPS HOUSES (EIN 111187480) - 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

1905

Legal Domicile

Principal Officer

ADAM WEINSTEIN

Phone

2122439090

Tax Period

2024-01-01 to 2024-12-31

PHIPPS HOUSES, founded in 1905, is a major nonprofit in the Housing & Shelter sector that reported $110.9M in total revenue in fiscal year 2024. Revenue surged 27% from the prior year, signaling strong growth momentum. The organization ran a surplus of $92.0M, a strong 83% operating margin.

Mission

TO PROVIDE, PROMOTE AND DEVELOP AFFORDABLE HOUSING FOR LOW AND MODERATE INCOME RESIDENTS.

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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 $25,294,386

Program Service Revenue $41,286,080

Investment Income $34,216,715

Other Revenue $10,131,285

TOTAL REVENUE $110,928,466

Expense Breakdown

Grants Paid $217,113

Salaries & Benefits $8,053,826

Fundraising Expenses $0

Program Expenses $8,535,357

Other Expenses $10,688,782

TOTAL EXPENSES $18,959,721

Year-over-Year Comparison

	2024	2023	Change
Revenue	$110,928,466	$87,375,863	+0.3%
Expenses	$18,959,721	$18,319,961	+0.0%
Net Income	$91,968,745	$69,055,902	+0.3%

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

Governance

Voting Members

Independent Members

Employees

Volunteers

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

$3,584,799

Total Directors

Key Employees

$648,667

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ABBE BOROK	TRUSTEE	1.00	Director	$0	$0	$0
ANDREW SIDAMON-ERISTOFF	TRUSTEE	1.00	Director	$0	$0	$0
BORIS GUTIN	TRUSTEE	1.00	Director	$0	$0	$0
DARCY STACOM	TRUSTEE	1.00	Director	$0	$0	$0
DITA AMORY	TRUSTEE	1.00	Director	$0	$0	$0
DONALD NOTICE	TRUSTEE	1.00	Director	$0	$0	$0
DR FELIX MATOS-RODRIGUEZ	TRUSTEE	1.00	Director	$0	$0	$0
DR OXIRIS BARBOT	TRUSTEE	1.00	Director	$0	$0	$0
JAY NEVELOFF	CHAIRMAN	1.00	Officer Director	$0	$0	$0
PETER DUNCAN	TRUSTEE	1.00	Director	$0	$0	$0
RICHARD KESSLER	TRUSTEE	1.00	Director	$0	$0	$0
RONAY MENSCHEL	TRUSTEE	3.00	Director	$0	$0	$0
SCOTT POWELL	TRUSTEE	1.00	Director	$0	$0	$0
SEAN MCSWEENY	TRUSTEE	1.00	Director	$0	$0	$0
SERAY INCOGLU	TRUSTEE	1.00	Director	$0	$0	$0
THOMAS CRAIG	TRUSTEE	1.00	Director	$0	$0	$0
THOMAS OSTERMAN	TRUSTEE	1.00	Director	$0	$0	$0
ADAM WEINSTEIN	PRESIDENT/CEO	30.00	Officer	$863,534	$180,441	$1,043,975
ANDRE WHITE	VICE PRESIDENT	1.00	Officer	$0	$10,833	$346,954
CATHY PENNINGTON	VICE PRESIDENT	15.00	Officer	$0	$8,119	$360,036
JAMES ROBERT PIGOTT JR	VICE PRESIDENT AND SECRETA	30.00	Officer	$366,981	$87,569	$454,550
LUKEMAN OGUNYINKA	CFO/TREASURER	30.00	Officer	$357,241	$9,964	$367,205
MATTHEW KELLY	OUTGOING VP PROPERTY DEVELOPMENT	30.00	Officer	$241,381	$70,079	$311,460
MATTHEW WASHINGTON	CHIEF OF STAFF	40.00	Officer	$294,304	$25,744	$320,048
MICHAEL WADMAN	VP PROPERTY DEVELOPMENT	30.00	Officer	$321,134	$59,437	$380,571
COLLEEN MCAULIFFE	HUMAN RESOURCES DIRECTOR	15.00	Key Emp	$0	$71,366	$403,966
GENNADIY TRAKHTMAN	DIRECTOR OF MIS	15.00	Key Emp	$0	$46,819	$244,701
CARMELO TORRES	ASSISTANT DIRECTOR	40.00	Highest	$150,795	$38,606	$189,401
JOHN STEVEN LOVCI	VP CAPITAL PROJECTS & PRECONSTRUCTION	40.00	Highest	$252,292	$23,473	$275,765

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	$110,928,466	$18,959,721	$994,102,835	$91,968,745
2023	$87,375,863	$18,319,961	$862,210,018	$69,055,902
2022	$101,156,342	$21,095,910	$827,242,266	$80,060,432
2021	$88,001,578	$21,514,926	$754,776,508	$66,486,652
2020	$79,703,796	$19,582,333	$688,807,851	$60,121,463
2019	$29,064,866	$13,906,466	$537,420,737	$15,158,400
2019	$83,640,042	$17,972,706	$624,489,745	$65,667,336
2018	$46,318,158	$13,328,505	$525,804,145	$32,989,653

PHIPPS HOUSES