THE PARODNECK FOUNDATION FOR SELF-… - 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

1970

Legal Domicile

Principal Officer

THOMASINA WHITE

Phone

2124319700

Tax Period

2023-01-01 to 2023-12-31

THE PARODNECK FOUNDATION FOR SELF-HELP HOUSING & COMMUNITY DEVELOPMENT INC, founded in 1970, is a community nonprofit in the Housing & Shelter sector that reported $1.0M in total revenue in fiscal year 2023. Revenue decreased 8% compared to the prior year. Net assets of $3.8M represent 45 months of operating reserves.

Mission

TO PROVIDE FINANCIAL AND TECHNICAL ASSISTANCE TO SELF-HELP HOUSING AND COMMUNITY DEVELOPMENT EFFORTS THROUGHOUT NEW YORK CITY. THE FOUNDATION PURSUES THIS MISSION THROUGH A NUMBER OF PROGRAM INITIATIVES, SUBSTANTIALLY ALL INVOLVING THE PROVISION OF SHORT-TERM AND LONG-TERM FINANCING.

Program Service Accomplishments

Program 1

Expenses: $546,780 Revenue: $502,940

CATCH MANAGEMENT PROGRAMCOMMUNITY ASSISTED TENANT CONTROLLED HOUSING (CATCH), INC. ("CATCH") IS A SEPARATE ORGANIZATION FOR WHICH THE FOUNDATION PROVIDES FISCAL AND ADMINISTRATIVE SERVICES. CATCH...

CATCH MANAGEMENT PROGRAMCOMMUNITY ASSISTED TENANT CONTROLLED HOUSING (CATCH), INC. ("CATCH") IS A SEPARATE ORGANIZATION FOR WHICH THE FOUNDATION PROVIDES FISCAL AND ADMINISTRATIVE SERVICES. CATCH OPERATES IN THE BRONX, BROOKLYN AND MANHATTAN AND HAS DEVELOPED OVER 900 UNITS OF AFFORDABLE HOUSING.

Program 2

Expenses: $264,776 Revenue: $480

SCHAP - SENIOR CITIZEN HOMEOWNER ASSISTANCE PROGRAMTHE PARODNECK FOUNDATION'S SENIOR CITIZEN HOMEOWNER ASSISTANCE PROGRAM (SCHAP) PROVIDES FINANCIAL ASSISTANCE TO SENIOR CITIZEN HOMEOWNERS WHO ARE...

SCHAP - SENIOR CITIZEN HOMEOWNER ASSISTANCE PROGRAMTHE PARODNECK FOUNDATION'S SENIOR CITIZEN HOMEOWNER ASSISTANCE PROGRAM (SCHAP) PROVIDES FINANCIAL ASSISTANCE TO SENIOR CITIZEN HOMEOWNERS WHO ARE LIVING IN PHYSICALLY DETERIORATED HOUSING. THE PROGRAM, WHICH HAS BEEN IN OPERATION SINCE 1986, PROVIDES NO- AND LOW-INTEREST LOANS AND EXTENSIVE TECHNICAL ASSISTANCE TO QUALIFIED HOMEOWNERS WITH AN EMPHASIS ON SENIOR CITIZENS. THIS SUPPORT ENABLES SENIORS/HOMEOWNERS TO RETAIN THEIR HOMES AND IMPROVE THEIR LIVING CONDITIONS, THEREBY HELPING THEM AVOID FINANCIAL INSOLVENCY, DISPLACEMENT, AND/OR LOSS OF INDEPENDENCE.

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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 $437,810

Program Service Revenue $503,420

Investment Income $60,672

Other Revenue $7,122

TOTAL REVENUE $1,009,024

Expense Breakdown

Grants Paid $0

Salaries & Benefits $695,904

Fundraising Expenses $0

Program Expenses $811,556

Other Expenses $372,048

TOTAL EXPENSES $1,067,952

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,009,024	$1,098,880	-0.1%
Expenses	$1,067,952	$1,092,935	0.0%
Net Income	$-58,928	$5,945	-10.9%

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

$328,652

Total Directors

$89,136

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
HAROLD DERIENZO GEN COUNSEL	DIR. OF COMPLIANCE, ASST. TREASURER	15.00	Officer Director	$84,778	$4,358	$89,136
IRMA RODRIGUEZ	CHAIRPERSON	5.00	Officer Director	$0	$0	$0
GREG CARLSON	BOARD MEMBER (THRU JAN 2023)	5.00	Director	$0	$0	$0
WILLIAM HILTON	BOARD MEMBER	5.00	Director	$0	$0	$0
RICK ROBERTO	BOARD MEMBER	5.00	Director	$0	$0	$0
KENNETH WRAY	EXECUTIVE DIRECTOR (THRU SEP 2023)	32.00	Officer	$111,774	$5,069	$116,843
THOMASINA WHITE SCHAP DIR-	ECTOR, INTERIM ED (AS OF SEP 2023)	30.00	Officer	$104,170	$18,503	$122,673

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	$1,009,024	$1,067,952	$14,833,193	$-58,928
2022	$1,098,880	$1,092,935	$14,505,679	$5,945
2021	$682,026	$920,960	$15,240,279	$-238,934
2020	$792,095	$1,146,603	$15,551,006	$-354,508
2019	$2,140,086	$1,100,498	$15,709,113	$1,039,588
2018	$850,173	$1,096,545	$14,460,464	$-246,372

THE PARODNECK FOUNDATION FOR SELF-HELP HOUSING & COMMUNITY DEVELOPMENT INC