SHOREFRONT TOWERS HOUSING DEVELOPMENT FUND CORPORATION (EIN 113200785) - 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

1994

Legal Domicile

Principal Officer

DAVID WAGNER

Phone

7184917208

Tax Period

2023-01-01 to 2023-12-31

SHOREFRONT TOWERS HOUSING DEVELOPMENT FUND CORPORATION, founded in 1994, is a community nonprofit in the Housing & Shelter sector that reported $1.6M in total revenue in fiscal year 2023. Expenses of $2.0M exceeded revenue, resulting in a 20% operating deficit.

Mission

TO PROVIDE HOUSING TO THE ELDERLY

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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 $0

Program Service Revenue $1,615,669

Investment Income $16,341

Other Revenue $4,297

TOTAL REVENUE $1,636,307

Expense Breakdown

Grants Paid $0

Salaries & Benefits $380,736

Fundraising Expenses $0

Program Expenses $1,693,348

Other Expenses $1,587,074

TOTAL EXPENSES $1,967,810

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,636,307	$1,629,502	+0.0%
Expenses	$1,967,810	$2,060,961	0.0%
Net Income	$-331,503	$-431,459	-0.2%

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

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

$3,073,388

Total Directors

$1,485,170

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
David Wagner	CEO, PRESIDENT	0.5	Officer Director	$0	$138,798	$1,485,170
David Koschitzki	Chief Financial Officer	0.5	Officer	$0	$124,203	$820,536
Christina Van Vort	Assistant Secretary	0.5	Officer	$0	$87,581	$767,682
William Gormley Sr	Chair	0.5	Officer Director	$0	$0	$0
Steven Topal	Vice Chair	0.5	Officer Director	$0	$0	$0
Alexander Balko	SECRETARY, TREASURER	0.5	Officer Director	$0	$0	$0
Burton Esrig	Director	0.5	Director	$0	$0	$0
Eli S Feldman	Director	0.5	Director	$0	$0	$0
Danielle Rollmann	Director	0.5	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	No data	No data	No data	No data
2023	$1,636,307	$1,967,810	$8,333,939	$-331,503
2022	$1,629,502	$2,060,961	$8,590,027	$-431,459
2021	$1,491,645	$1,874,200	$9,230,616	$-382,555
2020	$1,292,698	$1,682,555	$9,381,630	$-389,857
2019	$1,813,646	$1,807,700	$9,626,917	$5,946
2018	$2,226,273	$1,736,492	$10,162,453	$489,781

SHOREFRONT TOWERS HOUSING DEVELOPMENT FUND CORPORATION