BISHOP JOHN R MCGANN SENIOR HOUSIN… - Form 990 Financial Data

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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

1998

Legal Domicile

Principal Officer

RICHARD BALCOM

Phone

5167337032

Tax Period

2023-10-01 to 2024-09-30

BISHOP JOHN R MCGANN SENIOR HOUSING DEVELOPMENT FUND CO INC, founded in 1998, is a community nonprofit in the Housing & Shelter sector that reported $1.3M in total revenue in fiscal year 2023. Net assets of $6.6M represent 63 months of operating reserves.

Mission

TO PROVIDE AFFORDABLE HOUSING FOR ELIGIBLE LOW INCOME FAMILIES AND INDIVIDUALS.

Program Service Accomplishments

Program 1

Expenses: $1,013,325 Revenue: $1,195,214

ON A NOT-FOR-PROFIT BASIS, THE CORPORATION PROVIDES 125 UNITS OF AFFORDABLE RENTAL HOUSING FOR PERSONS OF LIMITED MEANS IN CENTRAL ISLIP, NEW YORK, WHERE NO ADEQUATE HOUSING EXISTS FOR SUCH PERSONS.

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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 $1,195,214

Investment Income $59,723

Other Revenue $4,008

TOTAL REVENUE $1,258,945

Expense Breakdown

Grants Paid $0

Salaries & Benefits $144,664

Fundraising Expenses $0

Program Expenses $1,013,325

Other Expenses $1,129,191

TOTAL EXPENSES $1,273,855

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,258,945	$1,179,971	+0.1%
Expenses	$1,273,855	$1,224,777	+0.0%
Net Income	$-14,910	$-44,806	-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

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
MICHAEL SMITH	PRESIDENT	1.00	Officer Director	$0	$0	$0
RICHARD BALCOM	TREASURER	1.00	Officer Director	$0	$0	$0
ROBERT J AHLSTROM JR	TRUSTEE	1.00	Director	$0	$0	$0
WILLIAM G CHAPIN	TRUSTEE	1.00	Director	$0	$0	$0
MARYANNE FITZGERALD	TRUSTEE	1.00	Director	$0	$0	$0
STEVEN PIETROWSKI	TRUSTEE	1.00	Director	$0	$0	$0
GARY CREGAN	TRUSTEE	1.00	Director	$0	$0	$0
JESUS VALDES	TRUSTEE	1.00	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
2025	No data	No data	No data	No data
2024	$1,258,945	$1,273,855	$6,719,873	$-14,910
2023	$1,179,971	$1,224,777	$6,711,200	$-44,806
2022	$979,080	$1,283,992	$6,748,432	$-304,912
2021	$923,546	$1,154,508	$7,079,474	$-230,962
2020	$951,096	$1,099,636	$7,324,737	$-148,540
2019	$969,991	$1,144,128	$7,430,560	$-174,137
2018	$1,137,106	$1,123,385	$7,619,299	$13,721

BISHOP JOHN R MCGANN SENIOR HOUSING DEVELOPMENT FUND CO INC