SEAGIRT HOUSING DEVELOPMENT FUND C… - 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

1982

Legal Domicile

Principal Officer

KATHRYN HASLANGER

Phone

2122735200

Tax Period

2020-07-01 to 2021-06-30

SEAGIRT HOUSING DEVELOPMENT FUND CORPORATION, founded in 1982, is a community nonprofit that reported $6.7M in total revenue in fiscal year 2020. Revenue surged 139% from the prior year, signaling strong growth momentum. The organization ran a surplus of $3.6M, a strong 53% operating margin.

Mission

AS PART OF THE JASA'S COMPREHENSIVE NETWORK OF SERVICES FOR OLDER ADULTS, SEAGIRT HOUSING DEVELOPMENT FUND CORPORATION PROVIDES AFFORDABLE HOUSING AND AUXILIARY FACILITIES FOR OLDER ADULTS OF LOW INCOME.

Program Service Accomplishments

Program 1

Expenses: $2,976,817 Revenue: $2,796,839

THE CORPORATION PROVIDED AFFORDABLE HOUSING AND AUXILIARY FACILITIES FOR OLDER ADULTS OF LOW INCOME THE PROJECT CONSISTS OF 152 UNITS LOCATED IN FAR ROCKAWAY, NEW YORK. IN ADDITION, THE ORGANIZATION PROVIDES AN ON-SITE SERVICE COORDINATOR TO PROMOTE WELLNESS ACTIVITIES AND TO SUPPORT RESIDENTS LIVING INDEPENDTLY IN THE COMMUNITY.THE CORPORATION SOLD THE PROPERTY IN JUNE 2021.

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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 (2020)

Revenue Breakdown

Contributions & Grants $635,964

Program Service Revenue $2,662,258

Investment Income $3,436,177

Other Revenue $0

TOTAL REVENUE $6,734,399

Expense Breakdown

Grants Paid $0

Salaries & Benefits $623,837

Fundraising Expenses $0

Program Expenses $2,976,817

Other Expenses $2,540,321

TOTAL EXPENSES $3,164,158

Year-over-Year Comparison

	2020	2019	Change
Revenue	$6,734,399	$2,820,866	+1.4%
Expenses	$3,164,158	$2,938,878	+0.1%
Net Income	$3,570,241	$-118,012	-31.3%

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

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

$1,101,152

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARTIN SIROKA	PRESIDENT	1.00	Officer Director	$0	$0	$0
DAVID HILDES	CHAIR	1.00	Officer Director	$0	$0	$0
JOSEPH RUBIN	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
BONNIE ROSENBERG	TREASURER	1.00	Officer Director	$0	$0	$0
ELEANOR WAGNER	SECRETARY	1.00	Officer Director	$0	$0	$0
SHARON MAKOWSKY	MEMBER	1.00	Director	$0	$0	$0
DONALD MANNING	VP/ASST. TREASURER, ASST.	1.00	Officer	$0	$14,038	$281,286
KATHRYN HASLANGER	CEO	1.00	Officer	$0	$43,698	$468,142
TRACY WELSH	COO	1.00	Officer	$0	$56,737	$351,724

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	$6,734,399	$3,164,158	No data	$3,570,241
2020	$2,820,866	$2,938,878	$5,689,480	$-118,012
2019	$2,887,996	$2,867,922	$5,824,774	$20,074

SEAGIRT HOUSING DEVELOPMENT FUND CORPORATION