55 WHIPPLE ST HOUSING DEVELOPMENT FUND CORPORATION

EIN: 113352060 Housing & Shelter

BROOKLYN, NY

Total Revenue
$580,315
Total Expenses
$1,029,116
Total Assets
$16,886,275
Net Assets
$-1,954,306
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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
JUAN RAMOS
Phone
7183873600
Tax Period
2023-01-01 to 2023-12-31

55 WHIPPLE ST HOUSING DEVELOPMENT FUND CORPORATION, founded in 1996, is a small nonprofit in the Housing & Shelter sector that reported $580K in total revenue in fiscal year 2023. Revenue decreased 10% compared to the prior year. Expenses of $1.0M exceeded revenue, resulting in a 77% operating deficit.

Mission

ORGANIZED TO DEVELOP, CONSTRUCT, OWN, OPERATE AND MANAGE A MULTIFAMILY RESIDENTIAL BUILDING THAT CONTAINS 51 RESIDENTIAL UNIT FOR LOW-INCOME INDIVIDUALS AND FAMILIES.

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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 $535,310
Investment Income $20,244
Other Revenue $24,761
TOTAL REVENUE $580,315

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $948,069
Other Expenses $1,029,116
TOTAL EXPENSES $1,029,116

Year-over-Year Comparison

2023 2022 Change
Revenue $580,315 $646,956 -0.1%
Expenses $1,029,116 $815,383 +0.3%
Net Income $-448,801 $-168,427 +1.7%
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

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Liquidity & Cash Position

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Governance

Voting Members
15
Independent Members
15
Employees
N/A
Volunteers
15

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
$381,455
Total Directors
15
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ANNETTE ROSADO BOARD MEMBER 0.50
Director
$0 $0 $0
CASSANDRA ACEVEDO SECRETARY 0.50
Officer Director
$0 $0 $0
DAMARIS REYES BOARD MEMBER 0.50
Director
$0 $0 $0
DAVID LOPEZ CHAIRMAN 0.50
Officer Director
$0 $0 $0
GLADYS OGANDO BOARD MEMBER 0.50
Director
$0 $0 $0
ISRAEL ROSARIO TREASURER 0.50
Officer Director
$0 $0 $0
MAISHA MORALES BOARD MEMBER 0.50
Director
$0 $0 $0
MARIA OCASIO BOARD MEMBER 0.50
Director
$0 $0 $0
MARTIN NEEDLEMAN BOARD MEMBER 0.50
Director
$0 $0 $0
RAY NARVAEZ VICE CHAIRMAN 0.50
Officer Director
$0 $0 $0
RICARDO MOLINA BOARD MEMBER 0.50
Director
$0 $0 $0
WILFREDO VARGAS BOARD MEMBER 0.50
Director
$0 $0 $0
JOE PACHECO BOARD MEMBER 0.50
Director
$0 $0 $0
JIM O'SHEA BOARD MEMBER 0.50
Director
$0 $0 $0
YOWALKZ ROSARIO BOARD MEMBER 0.50
Director
$0 $0 $0
JUAN RAMOS EXECUTIVE DIRECTOR 0.50
Officer
$0 $17,573 $209,348
LENETTE BERRIOS FINANCE DIRECTOR 0.50
Officer
$0 $17,573 $172,107
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 $580,315 $1,029,116 $16,886,275 $-448,801
2022 $646,956 $815,383 $17,109,235 $-168,427
2021 $6,000,238 $785,836 $13,310,618 $5,214,402
2020 $4,853,722 $928,739 $8,084,200 $3,924,983
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