TURNING POINT RED HOOK HOUSING DEVELOPMENT FUND CORPORATION (EIN 113188658) - 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

1993

Legal Domicile

Principal Officer

JODI QUERBACH

Phone

7184390077

Tax Period

2023-07-01 to 2024-06-30

TURNING POINT RED HOOK HOUSING DEVELOPMENT FUND CORPORATION, founded in 1993, is a small nonprofit in the Housing & Shelter sector that reported $507K in total revenue in fiscal year 2023. Revenue decreased 9% compared to the prior year. Expenses of $454K left a modest 10% surplus.

Mission

TO PROVIDE HOUSING AND SUPPORTIVE SERVICES TO RESIDENTS LIVING IN LOW INCOME HOUSING PROJECTS AT 713-715 HENRY STREET, BROOKLYN.

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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 $90,236

Program Service Revenue $408,299

Investment Income $0

Other Revenue $8,244

TOTAL REVENUE $506,779

Expense Breakdown

Grants Paid $0

Salaries & Benefits $170,339

Fundraising Expenses $0

Program Expenses $371,993

Other Expenses $284,134

TOTAL EXPENSES $454,473

Year-over-Year Comparison

	2023	2022	Change
Revenue	$506,779	$555,118	-0.1%
Expenses	$454,473	$653,333	-0.3%
Net Income	$52,306	$-98,215	-1.5%

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
KISHOR MALAVADE	CHAIR	0.30	Officer Director	$0	$0	$0
SHAWN AUSTIN	DIRECTOR	0.30	Director	$0	$0	$0
IRENE VAN SLYKE	DIRECTOR	0.30	Director	$0	$0	$0
N/A	SOLE VOTING MEMBER	5.00		$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	$506,779	$464,733	$1,572,485	$42,046
2024	$506,779	$454,473	$1,500,293	$52,306
2023	$555,118	$653,333	$1,752,842	$-98,215
2022	$509,350	$705,452	$1,505,395	$-196,102
2021	$474,450	$681,917	$1,708,350	$-207,467
2019	$534,239	$280,080	$1,963,630	$254,159
2018	$528,937	$528,937	$1,751,805	No data

TURNING POINT RED HOOK HOUSING DEVELOPMENT FUND CORPORATION