THE COMMUNITY PRESERVATION CORPORA… - 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

1974

Legal Domicile

Principal Officer

RAFAEL E CESTERO

Phone

2128695300

Tax Period

2022-07-01 to 2023-06-30

THE COMMUNITY PRESERVATION CORPORATION, founded in 1974, is a mid-sized nonprofit in the Community Improvement sector that reported $77.9M in total revenue in fiscal year 2022. Revenue grew 16% year-over-year, indicating healthy expansion. Expenses of $86.6M exceeded revenue, resulting in a 11% operating deficit.

Mission

TO COMBAT COMMUNITY DETERIORATION, PROMOTE THE GENERAL WELFARE, AND LESSEN THE BURDENS OF GOVERNMENT BY PROVIDING DEBT AND/OR EQUITY FINANCING FOR LOW & MODERATE INCOME HOUSING.

Program Service Accomplishments

Program 1

Expenses: $72,872,949 Revenue: $57,620,416

THE COMMUNITY PRESERVATION CORPORATION (CPC) IS A PRIVATE NOT-FOR-PROFIT MORTGAGE LENDER AND INVESTOR SPECIALIZING IN THE FINANCING OF LOW AND MODERATE INCOME HOUSING. CPC'S MISSION IS TO WORK WITH GOVERNMENT TO PRESERVE AND DEVELOP AFFORDABLE HOUSING IN NEW YORK AND, TO A LESSER EXTENT, ELSEWHERE. IN ITS 49 YEARS OF EXISTENCE, CPC HAS FINANCED THE REHABILITATION OR CONSTRUCTION OF 250,000 AFFORDABLE HOUSING UNITS. DURING THE YEAR ENDED JUNE 30, 2023, CPC ORIGINATED $264,528,036 OF PUBLIC AND PRIVATE FUNDS REPRESENTING FINANCING ON 2,275 UNITS.

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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 $13,196

Program Service Revenue $57,620,416

Investment Income $20,285,334

Other Revenue $0

TOTAL REVENUE $77,918,946

Expense Breakdown

Grants Paid $719,404

Salaries & Benefits $30,067,536

Fundraising Expenses $0

Program Expenses $72,872,949

Other Expenses $55,782,818

TOTAL EXPENSES $86,569,758

Year-over-Year Comparison

	2022	2021	Change
Revenue	$77,918,946	$67,322,772	+0.2%
Expenses	$86,569,758	$69,181,777	+0.3%
Net Income	$-8,650,812	$-1,859,005	+3.7%

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

200

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

$20,090,785

Total Directors

$1,555,740

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RAFAEL E CESTERO	PRESIDENT & CEO, DIRECTOR	35.00	Officer Director	$1,474,712	$81,028	$1,555,740
PETER CANNAVA	DIRECTOR	0.00	Director	$0	$0	$0
LOUISE CARROLL	DIRECTOR	0.00	Director	$0	$0	$0
EDUARDO DIAZ-PEREZ	DIRECTOR	0.00	Director	$0	$0	$0
INGRID GOULD ELLEN	DIRECTOR	0.00	Director	$0	$0	$0
NICOLE FERREIRA	DIRECTOR	0.00	Director	$0	$0	$0
MICHAEL HEGARTY	DIRECTOR	0.00	Director	$0	$0	$0
CAROL M JOSEPH	DIRECTOR	0.00	Director	$0	$0	$0
MANUEL MENENDEZ JR	DIRECTOR	0.00	Director	$0	$0	$0
RICHARD ROBERTS	DIRECTOR	0.00	Director	$0	$0	$0
GARY RODNEY	DIRECTOR	0.00	Director	$0	$0	$0
ANDERS TOMSON	DIRECTOR	0.00	Director	$0	$0	$0
STEVEN J WEISS	DIRECTOR	0.00	Director	$0	$0	$0
JOHN M CANNON	EXEC VICE PRESIDENT	17.50	Officer	$246,181	$78,455	$821,128
SARAH J SINGMAN	EXEC VICE PRESIDENT	35.00	Officer	$733,334	$81,028	$814,362
TIMOTHY DEEGAN	VICE PRESIDENT	17.50	Officer	$212,048	$76,146	$705,476
DAVID ROTHBERG	EXEC VICE PRESIDENT & CFO	35.00	Officer	$526,527	$83,378	$610,176
WILLIAM C RUSSO IV	SENIOR VICE PRESIDENT	35.00	Officer	$513,466	$82,604	$596,070
CAROLYN AU	EXEC VICE PRESIDENT & COO	35.00	Officer	$493,966	$60,874	$554,840
JEFFREY B ELY	SENIOR VICE PRESIDENT	35.00	Officer	$489,682	$39,813	$529,747
RICHARD A KUMRO	EVP, GENL COUNSEL, SECY	35.00	Officer	$451,222	$68,847	$520,069
STEVEN M GETZ	VICE PRESIDENT	17.20	Officer	$108,996	$41,457	$483,241
JOSEPH TANCREDI	VICE PRESIDENT	17.50	Officer	$115,229	$72,319	$436,365
ADAM TELL METZGER	SENIOR VICE PRESIDENT	35.00	Officer	$359,293	$1,014	$360,307
ANDREA D GLADSTONE	SENIOR VICE PRESIDENT	35.00	Officer	$317,677	$67,537	$385,214
ROBERT L RIGGS	SENIOR VICE PRESIDENT	35.00	Officer	$314,453	$74,743	$389,196
NICHOLAS V PETRAGNANI JR	SENIOR VICE PRESIDENT	35.00	Officer	$312,563	$72,972	$385,535
DOUGLAS L OLCOTT	SENIOR VICE PRESIDENT	35.00	Officer	$311,470	$72,495	$383,965
STEPHANIE C CANZANI	SENIOR VICE PRESIDENT	35.00	Officer	$309,542	$78,730	$388,391
DANIEL J WHEELER	SENIOR VICE PRESIDENT	35.00	Officer	$301,155	$74,548	$375,703
LAWRENCE HAMMOND	SENIOR VICE PRESIDENT	35.00	Officer	$287,095	$70,405	$357,500
HELENE S RUDOLPH	VICE PRESIDENT	35.00	Officer	$279,630	$71,732	$351,362
JAIME S DEMASO	SENIOR VICE PRESIDENT	35.00	Officer	$277,437	$76,829	$354,266
MELANIE A CROCCO	VICE PRESIDENT	35.00	Officer	$269,308	$67,997	$337,443
ERIN K MACHER	VICE PRESIDENT	35.00	Officer	$261,860	$39,463	$301,458
HUNTER CA GRADIE	VICE PRESIDENT	17.20	Officer	$92,356	$25,382	$284,595
CHRISTINA L MORRISON	VICE PRESIDENT	35.00	Officer	$258,450	$54,446	$312,896
MARC S LEVINE	VICE PRESIDENT	17.30	Officer	$97,005	$45,432	$300,552
ERIN P BURNS-MAINE	VICE PRESIDENT	35.00	Officer	$247,858	$5,064	$252,922
MALINI NAYAR	SENIOR VICE PRESIDENT	35.00	Officer	$244,746	$18,291	$263,037
CHANDA B TYE	DEPUTY CHIEF FHA UNDERWRITER	17.20	Officer	$85,297	$60,167	$301,576
JOYA COHEN	VICE PRESIDENT	35.00	Officer	$240,891	$27,778	$268,669
MARY SCHOUENBORG-PADEN	SENIOR VICE PRESIDENT	35.00	Officer	$237,445	$38,322	$275,767
DAVID S GALST	VICE PRESIDENT	16.60	Officer	$75,158	$58,170	$290,179
ANDREW J D'AGOSTINO	SENIOR VICE PRESIDENT	35.00	Officer	$230,740	$66,463	$297,203
FERGUS P O'CONNELL	VICE PRESIDENT	35.00	Officer	$224,828	$72,432	$297,351
GEORGE CHUNG	VICE PRESIDENT	35.00	Officer	$223,046	$36,349	$259,395
JOHN J TUCCI	VICE PRESIDENT	35.00	Officer	$221,023	$52,249	$273,272
LU JIN	VICE PRESIDENT	33.90	Officer	$212,234	$52,283	$271,110
JAMES P MILLARD	VICE PRESIDENT	35.00	Officer	$218,671	$26,927	$245,598
ANDREW J GIGLIO	VICE PRESIDENT	35.00	Officer	$194,738	$69,182	$263,920
MILDRED A DEANE	SENIOR VICE PRESIDENT	35.00	Officer	$191,632	$9,062	$200,694
ERIC B BEDERMAN	VICE PRESIDENT	35.00	Officer	$191,314	$22,840	$214,154
MONIQUE D JEFFERSON	SENIOR VICE PRESIDENT	35.00	Officer	$190,882	$14,474	$205,454
SARAH C DUPERE OSTRO	VICE PRESIDENT	35.00	Officer	$190,841	$61,757	$252,598
ROGER G GARCIA	VICE PRESIDENT	35.00	Officer	$187,612	$24,885	$212,497
ELIZABETH L FRIEDMAN	VICE PRESIDENT	35.00	Officer	$176,650	$33,003	$209,653
JAIME L TUOZZOLO	VICE PRESIDENT	35.00	Officer	$175,881	$31,897	$207,778
MICHAEL K STATON SR	VICE PRESIDENT	16.30	Officer	$78,586	$27,014	$198,430
ROSS J CLARKE	VICE PRESIDENT	35.00	Officer	$162,525	$54,268	$216,793
MICHAEL J KROOG	VICE PRESIDENT	35.00	Officer	$162,169	$58,114	$220,283
TRACY M CONLEY	VICE PRESIDENT	35.00	Officer	$158,547	$19,858	$178,405
JANE H CHRONE	VICE PRESIDENT	35.00	Officer	$154,066	$24,591	$178,657
ATALIA HOWE	VICE PRESIDENT	35.00	Officer	$146,201	$45,615	$191,816
ALICE M ANIGACZ	VICE PRESIDENT	35.00	Officer	$120,198	$45,648	$165,846
WILHELMENA A NORMAN-HERNANDEZ	VICE PRESIDENT	35.00	Officer	$118,746	$50,610	$169,356
CARY TODD MOORE	SENIOR VICE PRESIDENT	35.00	Officer	$98,858	$7,058	$105,916
CAYMARY E O'GARRO	DEPUTY CHIEF OF STAFF	35.00	Officer	$98,824	$9,814	$108,638
ANITA S KENDRICK	VICE PRESIDENT	35.00	Officer	$60,189	$4,282	$64,471
LYSA D ARNDTS	VICE PRESIDENT	35.00	Officer	$50,889	$7,084	$57,973
SHARMIN CARTER	VICE PRESIDENT	35.00	Officer	$48,874	$270	$49,169
SHARON S FIERSTEIN	VICE PRESIDENT	35.00	Officer	$47,546	$4,834	$52,405
JACLYN R KEANE	VICE PRESIDENT	35.00	Officer	$41,958	$6,325	$48,283
THOMAS P MCGRATH	SENIOR VICE PRESIDENT	35.00	Officer	$41,941	$5,863	$47,804
MATTHEW A MESKILL	VICE PRESIDENT	35.00	Officer	$34,986	$14,418	$49,404
ELIZABETH PROPP	SENIOR VICE PRESIDENT	35.00	Officer	$24,781	$3,931	$28,712
LEON SHNAYDER	MANAGER OF INFRASTRUCTURE SERVICES	35.00	Highest	$274,315	$42,904	$317,360
ANTHONY ANNUNZIATO	SENIOR ASSOCIATE	16.80	Highest	$79,306	$17,255	$272,272
ALEXANDER K HAJEK	PRODUCTION MGR FREDDIE MAC SMALL BALANCE LOAN	17.20	Highest	$79,097	$61,515	$296,578
LEAH HOROWITZ	SENIOR ASSOCIATE	18.80	Highest	$74,198	$16,252	$225,913
BRENDA BARNABY	AVP HUMAN RESOURCES GENERALIST	35.00	Highest	$208,520	$50,797	$259,424

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	$77,918,946	$86,569,758	$1,733,974,820	$-8,650,812
2022	$67,322,772	$69,181,777	$1,525,690,659	$-1,859,005
2021	$65,839,600	$66,282,296	$1,407,109,282	$-442,696
2020	$215,858,879	$71,235,484	$1,327,087,827	$144,623,395
2019	$80,113,763	$69,162,655	$1,186,023,708	$10,951,108
2018	$59,351,594	$55,660,373	$1,212,783,861	$3,691,221

THE COMMUNITY PRESERVATION CORPORATION