CABRINI GARDENS SENIOR HOUSING DEV… - 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

2004

Legal Domicile

Principal Officer

RICHARD BALCOM

Phone

5167337032

Tax Period

2023-10-01 to 2024-09-30

CABRINI GARDENS SENIOR HOUSING DEVELOPMENT FUND COMPANY INC, founded in 2004, is a community nonprofit in the Housing & Shelter sector that reported $1.1M in total revenue in fiscal year 2023. Expenses of $1.3M exceeded revenue, resulting in a 23% operating deficit.

Mission

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

Program Service Accomplishments

Program 1

Expenses: $1,117,151 Revenue: $1,026,521

ON A NOT-FOR-PROFIT BASIS, THE CORPORATION PROVIDES 66 UNITS OF AFFORDABLE RENTAL HOUSING FOR PERSONS OF LIMITED MEANS IN BROOKHAVEN, 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 $1,026,521

Investment Income $24,693

Other Revenue $2,444

TOTAL REVENUE $1,053,658

Expense Breakdown

Grants Paid $0

Salaries & Benefits $193,896

Fundraising Expenses $0

Program Expenses $1,117,151

Other Expenses $1,100,936

TOTAL EXPENSES $1,294,832

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,053,658	$1,039,122	+0.0%
Expenses	$1,294,832	$1,183,260	+0.1%
Net Income	$-241,174	$-144,138	+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	$1,053,658	$1,294,832	$9,653,473	$-241,174
2023	$1,039,122	$1,183,260	$9,902,639	$-144,138
2022	$919,351	$1,148,576	$10,009,134	$-229,225
2021	$849,879	$1,117,266	$10,257,389	$-267,387
2020	$788,713	$1,048,927	$10,527,030	$-260,214
2019	$784,137	$1,016,173	$10,780,080	$-232,036
2018	$759,488	$965,719	$11,020,538	$-206,231

CABRINI GARDENS SENIOR HOUSING DEVELOPMENT FUND COMPANY INC