MANHATTAN BEACH HOUSING DEVELOPMENT FUND CORPORATION (EIN 133035718) - Form 990 Financial Analysis & Trantor Score

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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

1978

Legal Domicile

Principal Officer

KATHRYN HASLANGER

Phone

2122735200

Tax Period

2021-07-01 to 2021-11-07

MANHATTAN BEACH HOUSING DEVELOPMENT FUND CORPORATION, founded in 1978, is a community nonprofit that reported $1.0M in total revenue in fiscal year 2021. Revenue fell 59% from the prior year — a significant decline worth monitoring. Expenses of $1.2M exceeded revenue, resulting in a 12% operating deficit.

Mission

TO PROVIDE AFFORDABLE HOUSING & SOCIAL SERVICES TO LOW INCOME OLDER ADULTS LIVING INDEPENDENTLY.

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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 (2021)

Revenue Breakdown

Contributions & Grants $25,492

Program Service Revenue $985,376

Investment Income $62

Other Revenue $22,061

TOTAL REVENUE $1,032,991

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $1,056,508

Other Expenses $1,161,138

TOTAL EXPENSES $1,161,138

Year-over-Year Comparison

	2021	2020	Change
Revenue	$1,032,991	$2,520,984	-0.6%
Expenses	$1,161,138	$2,678,007	-0.6%
Net Income	$-128,147	$-157,023	-0.2%

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

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

$1,145,463

Total Directors

$553,223

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ALAN COHEN	BOARD MEMBER	1.00	Director	$0	$11,230	$229,125
DONALD MANNING	VP/ASST. TREASURER, ASST./BOARD MEMBER	1.00	Officer Director	$0	$30,990	$324,098
MARTIN SIROKA	PRESIDENT/BOARD MEMBER	1.00	Officer Director	$0	$0	$0
KATHRYN HASLANGER	CEO	1.00	Officer	$0	$42,265	$463,039
MATTHEW LOCURTO	CFO	1.00	Officer	$0	$0	$0
TRACY WELSH	OUTGOING COO	1.00	Officer	$0	$56,853	$358,326

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
2021	$2,520,984	$2,678,007	$6,609,284	$-157,023
2021	$1,032,991	$1,161,138	No data	$-128,147
2020	$2,570,530	$2,606,008	$6,711,624	$-35,478
2019	$2,548,645	$2,728,547	$7,385,308	$-179,902

MANHATTAN BEACH HOUSING DEVELOPMENT FUND CORPORATION