Berean Housing Development Fund Co… - 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

1983

Legal Domicile

Principal Officer

Dr Arlee Arkofa

Tax Period

2023-10-01 to 2024-09-30

Berean Housing Development Fund Company Inc, founded in 1983, is a community nonprofit in the Housing & Shelter sector that reported $1.5M in total revenue in fiscal year 2023. Revenue surged 29% from the prior year, signaling strong growth momentum.

Mission

THE ORGANIZATION'S MISSION IS TO PROVIDE RESIDENTIAL HOUSING TO LOW-INCOME ELDERLY.

Program Service Accomplishments

Program 1

Expenses: $1,516,990 Revenue: $328,791

THE ORGANIZATION CONTINUES TO PROVIDE SUPPORTIVE HOUSING TO LOW-INCOME ELDERLY IN ITS 77-UNIT RESIDENIAL HOUSING PROJECT IN BROOKLYN, NEW YORK. THE PROJECT IS REGULATED BY THE UNITED STATES...

THE ORGANIZATION CONTINUES TO PROVIDE SUPPORTIVE HOUSING TO LOW-INCOME ELDERLY IN ITS 77-UNIT RESIDENIAL HOUSING PROJECT IN BROOKLYN, NEW YORK. THE PROJECT IS REGULATED BY THE UNITED STATES DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD) AS TO RENT CHARGES AND OPERATING METHODS UNDER THE SECTION 202 SUPPORTIVE HOUSING FOR THE ELDERLY PROGRAM.

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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 $1,159,128

Program Service Revenue $328,791

Investment Income $13,473

Other Revenue $0

TOTAL REVENUE $1,501,392

Expense Breakdown

Grants Paid $0

Salaries & Benefits $284,740

Fundraising Expenses $0

Program Expenses $1,516,990

Other Expenses $1,324,401

TOTAL EXPENSES $1,609,141

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,501,392	$1,160,875	+0.3%
Expenses	$1,609,141	$1,461,464	+0.1%
Net Income	$-107,749	$-300,589	-0.6%

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
DR ARLEE ARKOFA	PRESIDENT	1.0	Officer Director	$0	$0	$0
REV TREVOR HYDE	VICE PRESIDENT	1.0	Officer Director	$0	$0	$0
FORREST MCDONALD	TREASURER	1.0	Officer Director	$0	$0	$0
RONALD BRIDGES	DIRECTOR	1.0	Director	$0	$0	$0
MICHAEL JOHNSON	DIRECTOR	1.0	Director	$0	$0	$0
LATONYA EVANS	DIRECTOR	1.0	Director	$0	$0	$0
JOHN WATSON	DIRECTOR	1.0	Director	$0	$0	$0
VIVIAN Y BRIGHT	SECRETARY	1.0	Officer 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	$1,501,392	$1,609,141	$3,029,806	$-107,749
2023	$1,160,875	$1,461,464	$2,670,559	$-300,589
2022	$1,130,145	$1,264,006	$2,907,739	$-133,861
2021	$1,179,416	$1,193,287	$3,059,959	$-13,871
2020	$1,380,167	$1,136,402	$3,200,684	$243,765
2019	$1,360,615	$1,309,931	$3,117,963	$50,684
2018	$1,245,345	$1,373,061	$3,078,724	$-127,716

Berean Housing Development Fund Company Inc