ROSALE HOUSING DEVELOPMENT FUND CO… - 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

1996

Legal Domicile

Principal Officer

MADELINE FORD

Phone

7186497000

Tax Period

2023-01-01 to 2023-12-31

ROSALE HOUSING DEVELOPMENT FUND CORPORATION, founded in 1996, is a small nonprofit in the Housing & Shelter sector that reported $477K in total revenue in fiscal year 2023. Expenses of $694K exceeded revenue, resulting in a 46% operating deficit.

Mission

ROSALE HOUSING DEVELOPMENT FUND CORPORATION IS A NOT-FOR-PROFIT ORGANIZATION DEDICATED TO PROVIDE HOUSING, HOUSING FACILITIES AND SERVICES FOR ELDERLY OR DISABLED PERSONS OF LOW INCOME TO MEET THEIR PHYSICAL, SOCIAL AND PSYCHOLOGICAL NEEDS.

Program Service Accomplishments

Program 1

Expenses: $596,403 Revenue: $150,098

ROSALE HOUSING DEVELOPMENT FUND PROVIDED HUD SUBSIDIZED HOUSING TO 48 ELDERLY AND/OR DISABLED PERSONS OF LOW INCOME IN THE EAST SECTION OF BROOKLYN, NEW YORK. THE HOUSING FACILITIES AND SERVICES...

ROSALE HOUSING DEVELOPMENT FUND PROVIDED HUD SUBSIDIZED HOUSING TO 48 ELDERLY AND/OR DISABLED PERSONS OF LOW INCOME IN THE EAST SECTION OF BROOKLYN, NEW YORK. THE HOUSING FACILITIES AND SERVICES PROVIDED ARE SPECIALLY DESIGNED TO MEET THE PARTICIPANT'S PHYSICAL, SOCIAL, AND PSYCHOLOGICAL NEEDS, AS WELL AS TO PROMOTE THEIR HEALTH, SECURITY, HAPPINESS, AND USEFULNESS IN LONGER LIVING.

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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 $321,163

Program Service Revenue $150,098

Investment Income $2,066

Other Revenue $3,630

TOTAL REVENUE $476,957

Expense Breakdown

Grants Paid $0

Salaries & Benefits $67,049

Fundraising Expenses $0

Program Expenses $596,403

Other Expenses $627,087

TOTAL EXPENSES $694,136

Year-over-Year Comparison

	2023	2022	Change
Revenue	$476,957	$456,142	+0.0%
Expenses	$694,136	$679,949	+0.0%
Net Income	$-217,179	$-223,807	0.0%

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

N/A

Employees

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAN SIMONETTE	CHAIRMAN/PRESIDENT	1.00	Officer Director	$0	$0	$0
OSCAR S MCDONALD	VICE-CHAIR	1.00	Officer Director	$0	$0	$0
WESLEY ULYSSE	TREASURER	1.00	Officer Director	$0	$0	$0
MADELINE FORD	SECRETARY	1.00	Officer Director	$0	$0	$0
ARLENE JOHNSON	DIRECTOR	1.00	Director	$0	$0	$0
ROSE D MITCHELL	DIRECTOR	1.00	Director	$0	$0	$0
BELVA PURCELL	DIRECTOR	1.00	Director	$0	$0	$0
BARBARA RAND	DIRECTOR	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
2024	No data	No data	No data	No data
2023	$476,957	$694,136	$1,737,815	$-217,179
2022	$456,142	$679,949	$2,013,678	$-223,807
2021	$395,508	$627,322	$2,108,665	$-231,814
2020	$406,268	$599,990	$2,429,798	$-193,722
2019	$399,611	$639,662	$2,522,688	$-240,051
2018	$406,338	$613,406	$2,681,630	$-207,068
2017	$405,326	$576,413	$2,854,569	$-171,087
2016	$383,237	$626,920	$2,993,653	$-243,683

ROSALE HOUSING DEVELOPMENT FUND CORPORATION