CYPRESS WEST HOUSING DEVELOPMENT FUND CORPORATION

EIN: 113294777 501(c)(3) Housing & Shelter

BROOKLYN, NY

Total Revenue
$410,888
Total Expenses
$497,510
Total Assets
$1,680,460
Net Assets
$-1,171,739
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1996
Legal Domicile
NY
Principal Officer
MICHELLE NEUGEBAUER
Phone
7186472800
Tax Period
2023-01-01 to 2023-12-31

CYPRESS WEST HOUSING DEVELOPMENT FUND CORPORATION, founded in 1996, is a small nonprofit in the Housing & Shelter sector that reported $411K in total revenue in fiscal year 2023. Revenue grew 11% year-over-year, indicating healthy expansion. Expenses of $498K exceeded revenue, resulting in a 21% operating deficit.

Mission

TO PROVIDE AND MAINTAIN AFFORDABLE HOUSING FOR PERSONS AND FAMILIES OF LOW INCOME IN BROOKLYN, NEW YOK.

Program Service Accomplishments

Program 1
Expenses: $486,164 Revenue: $411,279

AFFORDABLE HOUSING PROGRAM THAT PROVIDES 39 RESIDENTIAL UNITS FOR RENT TO PERSONS AND FAMILIES OF LOW INCOME IN 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 $405,661
Investment Income $5,047
Other Revenue $180
TOTAL REVENUE $410,888

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $486,164
Other Expenses $497,510
TOTAL EXPENSES $497,510

Year-over-Year Comparison

2023 2022 Change
Revenue $410,888 $370,649 +0.1%
Expenses $497,510 $511,144 0.0%
Net Income $-86,622 $-140,495 -0.4%
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

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Governance

Voting Members
8
Independent Members
7
Employees
N/A
Volunteers
7

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
6
$365,411
Total Directors
8
$210,191
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MICHELLE N NEUGEBAUER EXECUTIVER DIRECTOR 0.50
Officer Director
$0 $25,762 $210,191
SYLVIA STOVALL PRESIDENT 1.00
Officer Director
$0 $0 $0
AIDAN LANIGAN VICE PRESIDENT 1.00
Officer Director
$0 $0 $0
MIRIAN RODRIQUEZ SECRETARY 1.00
Officer Director
$0 $0 $0
HAROLD GREEN TREASURER 1.00
Officer Director
$0 $0 $0
NICK RUSSO MEMBER 0.50
Director
$0 $0 $0
RD GENTZLER MEMBER 0.50
Director
$0 $0 $0
MELODYE HARVEY MEMBER 0.50
Director
$0 $0 $0
GAUDI POLANCO-MENDOZA CFO 0.50
Officer
$0 $6,786 $155,220
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 $410,888 $497,510 $1,680,460 $-86,622
2022 $370,649 $511,144 $1,734,313 $-140,495
2021 $375,623 $513,374 $1,822,949 $-137,751
2020 $368,130 $440,030 $1,987,297 $-71,900
2019 $396,180 $462,025 $2,078,166 $-65,845
2018 $373,936 $455,911 $2,113,061 $-81,975
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