BREAKING GROUND HOUSING DEVELOPMENT FUND CORPORATION (EIN 113048002) - 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

1990

Legal Domicile

Principal Officer

BRENDA ROSEN

Phone

2123899300

Tax Period

2023-01-01 to 2023-12-31

BREAKING GROUND HOUSING DEVELOPMENT FUND CORPORATION, founded in 1990, is a mid-sized nonprofit in the Housing & Shelter sector that reported $31.6M in total revenue in fiscal year 2023. Expenses of $27.6M left a modest 13% surplus.

Mission

WE OFFER AFFORDABLE HOUSING AND SUPPORT PROGRAMS FOR HOMELESS AND VULNERABLE NEW YORKERS.

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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 $16,460,052

Program Service Revenue $13,591,770

Investment Income $1,147,386

Other Revenue $399,757

TOTAL REVENUE $31,598,965

Expense Breakdown

Grants Paid $0

Salaries & Benefits $11,860,166

Fundraising Expenses $1,295,242

Program Expenses $24,241,025

Other Expenses $15,705,943

TOTAL EXPENSES $27,566,109

Year-over-Year Comparison

	2023	2022	Change
Revenue	$31,598,965	$29,782,334	+0.1%
Expenses	$27,566,109	$19,907,645	+0.4%
Net Income	$4,032,856	$9,874,689	-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

$1,043,693

Total Directors

$643,431

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BRENDA ROSEN	PRESIDENT & CEO	12.44	Officer Director	$0	$13,827	$643,431
MICHAEL FRANCO	CHAIRMAN	0.58	Officer Director	$0	$0	$0
DAVID PICKET	DIRECTOR	0.46	Director	$0	$0	$0
BEN STACKS	TREASURER	0.20	Officer Director	$0	$0	$0
MICHAEL RYAN	DIRECTOR	0.38	Director	$0	$0	$0
RICHARD ROBERTS	DIRECTOR	0.38	Director	$0	$0	$0
NICHOLAS TSANG	SECRETARY	0.13	Officer Director	$0	$0	$0
DAVID WALSH	DIRECTOR	0.45	Director	$0	$0	$0
KARA MCSHANE	DIRECTOR	0.23	Director	$0	$0	$0
MICHAEL LASCHER	DIRECTOR	0.23	Director	$0	$0	$0
ANNIE TIRSCHWELL	DIRECTOR	0.23	Director	$0	$0	$0
PETER EZERSKY	DIRECTOR	0.23	Director	$0	$0	$0
KIRK GOODRICH	DIRECTOR	0.23	Director	$0	$0	$0
MICHAEL WERNER	DIRECTOR	0.35	Director	$0	$0	$0
ANDY D'AMICO	DIRECTOR	0.23	Director	$0	$0	$0
MARK LEVY	DIRECTOR	0.23	Director	$0	$0	$0
LOUISE CARROLL	DIRECTOR (AS OF 4/25/2023)	0.17	Director	$0	$0	$0
KEVIN MORAN	CFO	12.44	Officer	$0	$47,221	$400,262

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	$31,598,965	$27,566,109	$214,800,596	$4,032,856
2022	$29,782,334	$19,907,645	$208,983,140	$9,874,689
2021	$25,961,669	$15,677,578	$193,138,085	$10,284,091
2020	$25,201,657	$15,793,334	$184,238,725	$9,408,323
2019	$21,105,622	$16,075,522	$172,180,125	$5,030,100
2018	$30,159,358	$16,986,693	$177,958,175	$13,172,665

BREAKING GROUND HOUSING DEVELOPMENT FUND CORPORATION