CROTONA PARK WEST HOUSING DEVELOPMENT FUND CORPORATION

EIN: 133514343 501(c)(3) Housing & Shelter

NEW YORK, NY

Total Revenue
$7,751,111
Total Expenses
$9,031,196
Total Assets
$20,249,432
Net Assets
$-37,137,171
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1989
Legal Domicile
NY
Principal Officer
ADAM WEINSTEIN
Phone
2122439090
Tax Period
2023-10-01 to 2024-09-30

CROTONA PARK WEST HOUSING DEVELOPMENT FUND CORPORATION, founded in 1989, is a community nonprofit in the Housing & Shelter sector that reported $7.8M in total revenue in fiscal year 2023. Expenses of $9.0M exceeded revenue, resulting in a 17% operating deficit.

Mission

CROTONA PARK WEST HOUSING DEVELOPMENT FUND CORPORATION WAS FORMED TO PROVIDE HOUSING FOR PERSONS OF LOW AND MODERATE INCOME.

Program Service Accomplishments

Program 1
Expenses: $8,422,619 Revenue: $7,648,035

TO PROVIDE LOW AND MODERATE INCOME HOUSING FOR 563 WORKING FAMILIES AND COMBAT COMMUNITY DETERIORATION IN A BLIGHTED INNER URBAN CITY AREA.

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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 (2023)

Revenue Breakdown

Contributions & Grants $55,000
Program Service Revenue $7,510,228
Investment Income $48,076
Other Revenue $137,807
TOTAL REVENUE $7,751,111

Expense Breakdown

Grants Paid $0
Salaries & Benefits $2,217,529
Fundraising Expenses $0
Program Expenses $8,422,619
Other Expenses $6,813,667
TOTAL EXPENSES $9,031,196

Year-over-Year Comparison

2023 2022 Change
Revenue $7,751,111 $7,561,810 +0.0%
Expenses $9,031,196 $9,750,914 -0.1%
Net Income $-1,280,085 $-2,189,104 -0.4%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
4
Independent Members
1
Employees
34
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
5
$2,541,726
Total Directors
4
$1,757,428
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ADAM WEINSTEIN PRESIDENT/CEO 1.00
Officer Director
$0 $172,076 $990,213
JAMES ROBERT PIGOTT JR VICE PRESIDENT AND SECRETA 1.00
Officer Director
$0 $79,704 $430,091
LUKEMAN OGUNYINKA TREASURER 1.00
Officer Director
$0 $62,804 $337,124
ERIC ANDERSON DIRECTOR 1.00
Director
$0 $0 $0
MATTHEW KELLY VICE PRESIDENT 1.00
Officer
$0 $73,253 $423,493
MICHAEL WADMAN VICE PRESIDENT 1.00
Officer
$0 $58,015 $360,805
VICTOR LOPEZ VP/AREA MANAGER 40.00
Highest
$122,595 $32,532 $155,127
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
2024 $7,751,111 $9,031,196 $20,249,432 $-1,280,085
2023 $7,561,810 $9,750,914 $21,911,177 $-2,189,104
2022 $7,388,365 $9,604,749 $23,041,523 $-2,216,384
2021 $7,261,955 $8,884,108 $24,353,081 $-1,622,153
2020 $7,035,959 $8,389,813 $24,735,989 $-1,353,854
2019 $6,913,734 $7,986,048 $25,826,097 $-1,072,314
2018 $6,809,106 $7,705,762 $26,111,387 $-896,656
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