NEW YORK INSTITUTE FOR HUMAN DEVEL… - 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

1966

Legal Domicile

Principal Officer

RUSSELL LANG

Phone

2123711000

Tax Period

2023-01-01 to 2023-12-31

NEW YORK INSTITUTE FOR HUMAN DEVELOPMENT INC, founded in 1966, is a community nonprofit that reported $5.8M in total revenue in fiscal year 2023. Revenue fell 40% from the prior year — a significant decline worth monitoring. Expenses of $7.6M exceeded revenue, resulting in a 32% operating deficit.

Mission

TO ASSURE THE MAINTENANCE AND DEVELOPMENT OF QUALITY AFFORDABLE HOUSING THROUGH MANAGEMENT AND OVERSIGHT SERVICES TO PARISH-SPONSORED HOUSING PROJECTS OWNED BY NON-PROFIT HOUSING DEVELOPMENT AND FINANCE COMPANIES. IHD ALSO MANAGES DEVELOPMENT OF NEW AFFORDABLE HOUSING UNITS ON VACANT OR UNDERUTILIZED PARISH PROPERTIES, AND THE REFINANCING OF EXISTING DEBT OBLIGATIONS.

Program Service Accomplishments

Program 1

Expenses: $7,049,307 Revenue: $5,735,599

THE ORGANIZATION PROVIDES CONSULTING TO VARIOUS INDEPENDENT COMPANIES THAT MANAGE AFFORDABLE MULTIFAMILY AND SENIOR CITIZEN HOUSING. THE ORGANIZATION ALSO PROVIDES CONSTRUCTION MANAGEMENT CONSULTING AND DEVELOPMENT SERVICES TO HOUSING DEVELOPMENT FINANCE CORPORATIONS ENGAGED IN THE REHABILITATION OF EXISTING AFFORDABLE HOUSING PROJECTS AND CONSTRUCTION FOR NEW AFFORDABLE HOUSING.

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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 $5,735,599

Investment Income $43,154

Other Revenue $0

TOTAL REVENUE $5,778,753

Expense Breakdown

Grants Paid $744,392

Salaries & Benefits $1,464,735

Fundraising Expenses $0

Program Expenses $7,049,307

Other Expenses $5,410,697

TOTAL EXPENSES $7,619,824

Year-over-Year Comparison

	2023	2022	Change
Revenue	$5,778,753	$9,683,097	-0.4%
Expenses	$7,619,824	$5,049,442	+0.5%
Net Income	$-1,841,071	$4,633,655	-1.4%

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

Governance

Voting Members

Independent Members

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

$510,568

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MONSIGNOR KEVIN SULLIVAN	CHAIR	1.00	Officer Director	$0	$0	$0
WILLIAM WHISTON	TREASURER	1.00	Officer Director	$0	$0	$0
DAVID BROWN	ASSISTANT TREASURER	1.00	Officer Director	$0	$0	$0
GEORGE HORTON	SECRETARY	1.00	Officer Director	$0	$0	$0
JOHN CAHILL	DIRECTOR	1.00	Director	$0	$0	$0
PAULA CARETHERS	DIRECTOR	1.00	Director	$0	$0	$0
REVEREND ERIC CRUZ	DIRECTOR	1.00	Director	$0	$0	$0
STANLEY GRAYSON	DIRECTOR	1.00	Director	$0	$0	$0
BEATRIZ DIAZ-TAVERAS	DIRECTOR	1.00	Director	$0	$0	$0
LUZ TAVAREZ	DIRECTOR	1.00	Director	$0	$0	$0
JOHANNA KLETTER	INTERIM CEO (THRU APRIL 2023)	20.00	Officer	$227,265	$6,643	$233,908
RUSSELL LANG	PRESIDENT & CEO (AS OF MAY 2023)	20.00	Officer	$230,280	$421	$230,701
ERIKA BRANDT	CHIEF OPERATING OFFICER	20.00	Officer	$45,872	$87	$45,959
SUSAN ALBRECHT	SENIOR DIRECTOR, DEVELOPMENT	35.00	Highest	$177,650	$41,293	$218,943
ANGELA HERRERA-SANCHEZ	SENIOR PROJECT ASSET MANAGER	35.00	Highest	$125,296	$14,722	$140,018
DREW KIRIAZIDES	ASSOCIATE DIRECTOR, DEVELOPMENT	35.00	Highest	$117,799	$24,368	$142,167
LAUNTHIA WELLINGTON	SENIOR COMPLIANCE MANAGER	35.00	Highest	$106,704	$29,922	$136,626

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	$5,778,753	$7,619,824	$47,955,232	$-1,841,071
2022	$9,683,097	$5,049,442	$41,983,691	$4,633,655
2021	$311,154	$1,349,283	$40,550,830	$-1,038,129
2021	$2,754,361	$5,829,831	$40,652,682	$-3,075,470
2020	$3,719,948	$5,851,845	$36,518,147	$-2,131,897
2019	$5,971,375	$5,566,023	$18,936,120	$405,352
2018	$4,887,845	$5,036,534	$21,390,908	$-148,689

NEW YORK INSTITUTE FOR HUMAN DEVELOPMENT INC