MAPES BOULEVARD HOUSING DEVELOPMENT FUND CORPORATION (EIN 133520270) - 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

1988

Legal Domicile

Principal Officer

ADAM WEINSTEIN

Phone

2122439090

Tax Period

2024-07-01 to 2025-06-30

MAPES BOULEVARD HOUSING DEVELOPMENT FUND CORPORATION, founded in 1988, is a community nonprofit in the Housing & Shelter sector that reported $1.2M in total revenue in fiscal year 2024. Expenses of $1.6M exceeded revenue, resulting in a 34% operating deficit.

Mission

MAPES BOULEVARD HOUSING DEVELOPMENT FUND CORPORATION WAS FORMED TO DEVELOP OWN AND OPERATE A HOUSING PROJECT IN THE BOROUGH OF THE BRONX, NY FOR PERSONS OF LOW INCOME.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $1,147,852

Investment Income $6,736

Other Revenue $3,800

TOTAL REVENUE $1,158,388

Expense Breakdown

Grants Paid $0

Salaries & Benefits $224,311

Fundraising Expenses $0

Program Expenses $1,273,609

Other Expenses $1,327,145

TOTAL EXPENSES $1,551,456

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,158,388	$1,180,295	0.0%
Expenses	$1,551,456	$1,279,604	+0.2%
Net Income	$-393,068	$-99,309	+3.0%

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

Governance

Voting Members

Independent Members

Employees

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

$2,557,761

Total Directors

$1,865,730

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ADAM WEINSTEIN	PRESIDENT/CEO	1.00	Officer Director	$0	$180,441	$1,043,975
JAMES ROBERT PIGOTT JR	VICE PRESIDENT AND SECRETA	1.00	Officer Director	$0	$87,569	$454,550
LUKEMAN OGUNYINKA	TREASURER	1.00	Officer Director	$0	$9,964	$367,205
LLOYD ZUCKERBERG	DIRECTOR	1.00	Director	$0	$0	$0
MATTHEW KELLY	VP PROPERTY DEVELOPMENT	1.00	Officer	$0	$70,079	$311,460
MICHAEL WADMAN	VP PROPERTY DEVELOPMENT	1.00	Officer	$0	$59,437	$380,571

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	$1,158,388	$1,551,456	$2,099,452	$-393,068
2024	$1,180,295	$1,279,604	$2,090,834	$-99,309
2023	$1,149,138	$1,189,853	$2,194,911	$-40,715
2022	$1,046,432	$1,068,540	$2,055,062	$-22,108
2021	$1,061,594	$978,215	$2,074,338	$83,379
2020	$1,039,558	$946,310	$1,954,080	$93,248
2019	$1,065,453	$907,809	$1,894,714	$157,644
2018	$1,045,733	$1,176,503	$1,813,349	$-130,770

MAPES BOULEVARD HOUSING DEVELOPMENT FUND CORPORATION