BRIGHTON BEACH HOUSING DEVELOPMENT FUND COMPANY INC

EIN: 133042331 501(c)(3) Housing & Shelter

NEW YORK, NY

Total Revenue
$4,152,245
Total Expenses
$4,469,376
Total Assets
$11,511,042
Net Assets
$-17,389,251
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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
1980
Legal Domicile
NY
Principal Officer
GAYLE HORWITZ
Phone
2122735200
Tax Period
2024-07-01 to 2025-06-30

BRIGHTON BEACH HOUSING DEVELOPMENT FUND COMPANY INC, founded in 1980, is a community nonprofit in the Housing & Shelter sector that reported $4.2M in total revenue in fiscal year 2024.

Mission

AS PART OF THE JASA'S COMPREHENSIVE NETWORK OF SERVICES FOR OLDER ADULTS, BRIGHTON BEACH HOUSING DEVELOPMENT FUND COMPANY, INC. PROVIDES AFFORDABLE HOUSING AND SOCIAL SERVICES TO LOW INCOME OLDER ADULTS LIVING INDEPENDENTLY.

Program Service Accomplishments

Program 1
Expenses: $3,584,832 Revenue: $4,144,698

THE CORPORATION PROVIDED AFFORDABLE HOUSING AND AUXILIARY FACILITIES FOR OLDER ADULTS OF LOW INCOME. THE PROJECT CONSISTS OF 154 UNITS LOCATED IN BROOKLYN, NEW YORK.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $4,137,288
Investment Income $7,547
Other Revenue $7,410
TOTAL REVENUE $4,152,245

Expense Breakdown

Grants Paid $0
Salaries & Benefits $473,031
Fundraising Expenses $0
Program Expenses $3,584,832
Other Expenses $3,996,345
TOTAL EXPENSES $4,469,376

Year-over-Year Comparison

2024 2023 Change
Revenue $4,152,245 $4,124,112 +0.0%
Expenses $4,469,376 $12,069,364 -0.6%
Net Income $-317,131 $-7,945,252 -1.0%
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

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Governance

Voting Members
3
Independent Members
1
Employees
8
Volunteers
1

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
4
$1,141,037
Total Directors
3
$572,362
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ALAN COHEN BOARD MEMBER 1.00
Director
$0 $25,271 $255,510
DONALD MANNING VP/SECRETARY 1.00
Officer Director
$0 $15,035 $316,852
MARTIN SIROKA PRESIDENT 1.00
Officer Director
$0 $0 $0
KATHRYN HASLANGER OUTGOING CEO 1.00
Officer
$0 $67,614 $536,369
MATTHEW LOCURTO CFO 1.00
Officer
$0 $48,831 $287,816
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 $4,152,245 $4,469,376 $11,511,042 $-317,131
2024 No data No data No data No data
2023 $3,802,663 $4,002,548 $21,863,054 $-199,885
2022 $3,655,103 $3,325,346 $22,061,967 $329,757
2021 $3,270,016 $10,634,582 $22,060,771 $-7,364,566
2020 $2,626,086 $2,561,591 $5,321,641 $64,495
2019 $2,603,997 $2,549,137 $5,301,805 $54,860
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