CLARENCE J NELL APARTMENTS HOUSING DEVELOPMENT FUND CORPORATION

EIN: 113218457 501(c)(3) Housing & Shelter

BROOKLYN, NY

Total Revenue
$272,674
Total Expenses
$302,879
Total Assets
$360,938
Net Assets
$-771,705
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1994
Legal Domicile
NY
Principal Officer
JEFFREY DUNSTON
Phone
7184539490
Tax Period
2023-01-01 to 2023-12-31

CLARENCE J NELL APARTMENTS HOUSING DEVELOPMENT FUND CORPORATION, founded in 1994, is a small nonprofit in the Housing & Shelter sector that reported $273K in total revenue in fiscal year 2023. Expenses of $303K exceeded revenue, resulting in a 11% operating deficit.

Mission

THE CORPORATION IS COMMITTED IN PROVIDING AFFORDABLE HOUSING APARTMENTS FOR FAMILIES OF LOW INCOME IN THE CENTRAL SECTION OF BROOKLYN, NEW YORK.

Program Service Accomplishments

Program 1
Expenses: $252,413 Revenue: $266,081

TO PROVIDE RESIDENTIAL HOUSING CONSISTING OF 20 UNITS TO FAMILIES OF LOW INCOME IN THE CENTRAL SECTIONS OF BROOKLYN, NEW YORK.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $266,081
Investment Income $4,204
Other Revenue $2,389
TOTAL REVENUE $272,674

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $252,413
Other Expenses $302,879
TOTAL EXPENSES $302,879

Year-over-Year Comparison

2023 2022 Change
Revenue $272,674 $284,046 0.0%
Expenses $302,879 $396,043 -0.2%
Net Income $-30,205 $-111,997 -0.7%
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

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Liquidity & Cash Position

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Governance

Voting Members
3
Independent Members
3
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
$298,920
Total Directors
3
$298,920
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JEFFREY DUNSTON CEO 0.33
Officer Director
$0 $0 $298,920
JAMES HENRY CHAIRMAN 0.33
Director
$0 $0 $0
ELLIOTT ROBINSON JR TREASURER 0.33
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
2023 $272,674 $302,879 $360,938 $-30,205
2022 $284,046 $396,043 $416,118 $-111,997
2021 $337,146 $303,280 $442,790 $33,866
2020 $267,412 $339,819 $411,717 $-72,407
2019 $230,476 $273,891 $431,532 $-43,415
2018 $263,975 $271,846 $425,751 $-7,871
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