BROOKLYN, NY
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)358-74 VERNON AVENUE HOUSING DEVELOPMENT FUND CORPORATION, founded in 1995, is a small nonprofit in the Housing & Shelter sector that reported $664K in total revenue in fiscal year 2023. Expenses of $944K exceeded revenue, resulting in a 42% operating deficit.
THE ORGANIZATION'S MISSION IS TO DEVELOP HOUSING FACILITIES AND SERVICES FOR THE ELDERLY AND HANDICPPAED PERSONS OF LOW-INCOME.
THE ORGANIZATION CONTINUES TO PROVIDES SUPPORTIVE HOUSING TO ITS ELDERLY AND/OR HANDICAPPED TENANTS IN ITS LUCILLE ROSE MANOR APARTMENTS (THE PROJECT). SINCE THE PROJECT WAS DEVELOPED THROUGH A...
THE ORGANIZATION CONTINUES TO PROVIDES SUPPORTIVE HOUSING TO ITS ELDERLY AND/OR HANDICAPPED TENANTS IN ITS LUCILLE ROSE MANOR APARTMENTS (THE PROJECT). SINCE THE PROJECT WAS DEVELOPED THROUGH A CAPITAL ADVANCE FROM THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT UNDER SECTION 202 OF THE HOUSING ACT OF 1959, THE ORGANIZATION CONTINUES TO OPERATE, MAINTAIN AND MANAGE THE PROJECT IN ACCORDANCE WITH THE REQUIREMENTS OF HUD, SPECIFICALLY IN TERMS OF ADMITTING ELIGIBLE TENANTS ONLY. THROUGH ITS HOUSING ASSISTANCE PAYMENTS (HAP) CONTRACT WITH HUD, THE ORGANIZATION PROCESSED MONTHLY HOUSING ASSISTANCE FROM HUD FOR EACH OF THE TENANTS AND COLLECT THE TENANTS' PORTION OF THE MONTHLY RENT.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2023 | 2022 | Change | |
|---|---|---|---|
| Revenue | $663,806 | $655,537 | +0.0% |
| Expenses | $943,519 | $865,820 | +0.1% |
| Net Income | $-279,713 | $-210,283 | +0.3% |
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
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| ELLIOTT ROBINSON JR | CHAIRMAN | 4.00 |
Officer
Director
|
$0 | $0 | $0 |
| JAMES HENRY | SECRETARY/TR | 2.00 |
Officer
Director
|
$0 | $0 | $0 |
| MELVIN POPE SR | BOARD MEMBER | 2.00 |
Officer
Director
|
$0 | $0 | $0 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2024 | No data | No data | No data | No data |
| 2023 | $663,806 | $943,519 | $2,638,593 | $-279,713 |
| 2022 | $655,537 | $865,820 | $2,775,673 | $-210,283 |
| 2021 | $681,117 | $896,000 | $2,903,911 | $-214,883 |
| 2020 | $682,872 | $895,325 | $3,010,852 | $-212,453 |
| 2019 | $725,356 | $1,039,767 | $3,141,608 | $-314,411 |
| 2018 | $760,541 | $988,643 | $3,313,126 | $-228,102 |
Compare 358-74 VERNON AVENUE HOUSING DEVELOPMENT FUND CORPORATION with other nonprofits in New York and across the country.