PHIPPS NEIGHBORHOODS INC

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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

1972

Legal Domicile

Principal Officer

ANDRE WHITE

Phone

2122439090

Tax Period

2022-07-01 to 2023-06-30

PHIPPS NEIGHBORHOODS INC, founded in 1972, is a mid-sized nonprofit that reported $17.8M in total revenue in fiscal year 2022.

Mission

TO PROVIDE EDUCATIONAL AND SOCIAL SERVICES TO INDIVIDUALS AND FAMILIES, OFTEN IN COMMUNITIES IN WHICH PHIPPS HOUSES OWNS AND/OR SPONSORS HOUSING DEVELOPMENTS. PHIPPS NEIGHBORHOODS PROVIDES A BROAD RANGE OF PROGRAMS, WHICH INCLUDE EDUCATION, RECREATION, CHILD CARE, YOUTH SERVICES, WORKFORCE DEVELOPMENT, RESIDENT SERVICES AND SUPPORTIVE HOUSING.

Program Service Accomplishments

Program 1

Expenses: $8,313,926

YYOUTH PROGRAMS - CONSISTS OF AFTER-SCHOOL EDUCATIONAL AND RECREATIONAL PROGRAMS BEACON SITES, AND SUMMER CAMP PROGRAMS.A) AFTER-SCHOOL PROGRAMS - (PRIMARILY FUNDED BY THE NEW YORK CITY DEPARTMENT OF YOUTH AND COMMUNITY DEVELOPMENT ("DYCD") AND THE NEW YORK STATE EDUCATION DEPARTMENT. THEY INCLUDE EIGHT SCHOOL-BASED PROGRAMS ANDAND FIVE COMMUNITY SCHOOL PROGRAMS PROVIDING STRUCTURED EDUCATIONAL, RECREATIONAL, AND CULTURAL ENRICHMENT ACTIVITIES TO ELEMENTARY, MIDDLE AND HIGH SCHOOL STUDENTS.B) BEACON/CORNERSTONE PROGRAMS - (FUNDED BY DYCD) ARE A MULTI-SERVICE HUBS, LOCATED IN SCHOOLS OR NEW YORK CITY HOUSING AUTHORITY DEVELOPMENTS, PROVIDING A VARIETY OF AFTERSCHOOL, WEEKEND, AND SUMMER PROGRAMS FOR YOUTH, FAMILIES AND THE COMMUNITY, INCLUDING: STRUCTURED EDUCATIONAL PROGRAMS WITH AN EMPHASIS ON LITERACY, LEADERSHIP DEVELOPMENT, COMMUNITY OUTREACH AND IMPROVEMENT, AND CULTURAL AND RECREATIONAL ACTIVITIES.

Program 2

Expenses: $2,146,101 Revenue: $170,130

SUPPORTIVE HOUSING - CONSISTS OF PROGRAMS PROVIDING SOCIAL SERVICES TO CHRONICALLY HOMELESS SINGLE ADULTS OR ADULT FAMILIES WITH A HEAD OF HOUSEHOLD WHO HAS A SERIOUS MENTAL ILLNESS, A SUBSTANCE USE DISORDER OR CO-OCCURING SMI AND SUD. YOUNG ADULTS TRANSITIONING FROM THE NYC FOSTER CARE SYSTEM ALSO RECEIVE SUPPORTIVE HOUSING FROM PHIPPS NEIGHBORHOODS AT ITS LOCATIONS: HONEYWELL APARTMENTS (912 E 178TH ST, BRONX, NY 10460), COURTLANDT COMMUNITY (929 COURTLANDT AVE, BRONX, NY 10451), AND LEE GOODWIN SITE (950 PROSPECT AVENUE, BRONX, 10460). THE NEW YORK CITY DEPARTMENT OF HEALTH AND MENTAL HYGIENE FUNDS LEE GOODWIN HOUSES.

Program 3

Expenses: $1,874,376

EDUCATION & EMPLOYMENT PROGRAMS - CONSIST OF CENTER-BASED PROGRAMMING AND INCLUDE SEVERAL PROGRAMS TO PROVIDE TEENS AND YOUNG ADULTS CONTINUING EDUCATION, INCLUDING COLLEGE AND CAREER AWARENESS, AND WORK READINESS SKILLS. PHIPPS CAREER NETWORK PROGRAMS HELP OUT-OF-SCHOOL AND OUT-OF-WORK YOUNG PEOPLE AND UNEMPLOYED ADULTS START CAREERS IN HEALTHCARE AND BUILDING SERVICES.A) PHIPPS NEIGHBORHOODS CENTER AT 178TH STREET PROVIDES ASSISTANCE WITH ACCESSING PUBLIC BENEFITS, AND EMPLOYMENT COACHING AND RESOURCES.B) PHIPPS NEIGHBORHOODS OPPORTUNITY CENTER AT MELROSE AND WEST FARMS ARE COMMUNITY-BASED ADULT EDUCATION CENTERS THAT OFFER A RANGE OF PROGRAMS,INCLUDING LITERACY, FINANCIAL COUNSELING, TECHNOLOGY, WORKFORCE, AND A FOOD PANTRY.

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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 (2022)

Revenue Breakdown

Contributions & Grants $17,017,086

Program Service Revenue $159,240

Investment Income $208,292

Other Revenue $408,403

TOTAL REVENUE $17,793,021

Expense Breakdown

Grants Paid $0

Salaries & Benefits $12,266,826

Fundraising Expenses $347,162

Program Expenses $15,451,048

Other Expenses $5,221,002

TOTAL EXPENSES $17,487,828

Year-over-Year Comparison

	2022	2021	Change
Revenue	$17,793,021	$18,079,167	0.0%
Expenses	$17,487,828	$16,648,095	+0.1%
Net Income	$305,193	$1,431,072	-0.8%

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

436

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

$2,084,131

Total Directors

$968,887

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ADAM WEINSTEIN	CHAIRPERSON	1.00	Officer Director	$0	$162,116	$968,887
ALBANERY ROMAN	TRUSTEE	1.00	Director	$0	$0	$0
DITA AMORY	TRUSTEE	1.00	Director	$0	$0	$0
DR LARRY JOHNSON	TRUSTEE	1.00	Director	$0	$0	$0
JAMES SMITH	TRUSTEE	1.00	Director	$0	$0	$0
JAMES WEINER	TRUSTEE	1.00	Director	$0	$0	$0
JOHN H BECKMAN	TRUSTEE	1.00	Director	$0	$0	$0
KATY HUTTO	TRUSTEE	1.00	Director	$0	$0	$0
MARION JONES	TRUSTEE	1.00	Director	$0	$0	$0
NELLIE AFSHAR	TRUSTEE	1.00	Director	$0	$0	$0
OMAR KARIUKI	OUTGOING TRUSTEE	1.00	Director	$0	$0	$0
RONAY MENSCHEL	TRUSTEE	1.00	Director	$0	$0	$0
RUBY SAAKE	TRUSTEE	1.00	Director	$0	$0	$0
ANDRE WHITE	EXECUTIVE DIRECTOR/CEO	40.00	Officer	$0	$6,990	$313,980
BRIAN BRICKER	OUTGOING TREASURER	1.00	Officer	$0	$69,454	$386,236
JAMES ROBERT PIGOTT JR	SECRETARY	1.00	Officer	$0	$74,966	$415,028
LUKEMAN OGUNYINKA	TREASURER	1.00	Officer	$0	$0	$0
CYNTHIA MALAVE BAEZ	SR. DIR. OF SCHOOLS & COMM	40.00	Highest	$117,951	$23,858	$141,809
DWAYNE BROWN	DEPUTY EXECUTIVE DIRECTOR	1.00	Highest	$129,689	$30,930	$160,619
JENNY T MCCORMICK	CHIEF STRATEGY & PARTNERSHIP	1.00	Highest	$146,648	$6,744	$153,392
MARQUETTE MOORE	DEPUTY EXECUTIVE DIR., FIN	40.00	Highest	$170,124	$23,370	$193,494
ROSEMARY ORDONEZ	SR. DIR. OF COMM. RESOURCE	40.00	Highest	$136,762	$23,093	$159,855

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	No data	No data	No data	No data
2023	$17,793,021	$17,487,828	$20,562,721	$305,193
2022	$18,079,167	$16,648,095	$18,359,964	$1,431,072
2021	$30,198,997	$14,512,963	$46,342,034	$15,686,034
2020	$13,207,456	$16,238,811	$28,930,681	$-3,031,355
2019	$27,824,206	$21,039,441	$30,912,339	$6,784,765
2018	$10,623,464	$21,350,037	$24,813,273	$-10,726,573