SHORE FRONT HOUSING DEVELOPMENT FUND CORPORATION C/O MET COUNCIL (EIN 133547688) - 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

1995

Legal Domicile

Principal Officer

DAVID GREENFIELD

Phone

2124539500

Tax Period

2024-01-01 to 2024-12-31

SHORE FRONT HOUSING DEVELOPMENT FUND CORPORATION C/O MET COUNCIL, founded in 1995, is a small nonprofit that reported $982K in total revenue in fiscal year 2024. Revenue surged 59% from the prior year, signaling strong growth momentum. Expenses of $1.4M exceeded revenue, resulting in a 44% operating deficit.

Mission

PROVIDE LOW INCOME HOUSING FOR SENIORS.

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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 $9,895

Program Service Revenue $966,107

Investment Income $2,729

Other Revenue $2,948

TOTAL REVENUE $981,679

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $1,334,188

Other Expenses $1,413,067

TOTAL EXPENSES $1,413,067

Year-over-Year Comparison

	2024	2023	Change
Revenue	$981,679	$616,013	+0.6%
Expenses	$1,413,067	$1,168,908	+0.2%
Net Income	$-431,388	$-552,895	-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

$1,519,101

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LINDA SPITZER	TREASURER	0.10	Officer Director	$0	$0	$0
KENNETH ECKSTEIN	SECRETARY	0.10	Officer Director	$0	$0	$0
STACEY SCHEINBERG	PRESIDENT	0.10	Officer Director	$0	$0	$0
DAVID GREENFIELD	CEO	0.10	Officer	$0	$59,698	$689,992
ELENA SYTCHEVA	CO-MANAGING DIRECTOR	0.10	Officer	$0	$20,095	$176,478
PHILIP KIBEL	CFO	0.10	Officer	$0	$58,704	$338,527
ROBERT NEWMAN	COO	0.10	Officer	$0	$6,919	$314,104

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	$981,679	$1,413,067	$3,808,940	$-431,388
2023	$616,013	$1,168,908	$3,467,309	$-552,895
2022	$597,060	$1,226,418	$3,287,037	$-629,358
2022	$597,060	$1,226,418	$3,287,037	$-629,358
2021	$651,490	$1,169,347	$3,570,395	$-517,857
2020	$708,733	$1,069,429	$3,865,581	$-360,696
2019	$1,233,717	$988,152	$3,987,477	$245,565
2018	$599,548	$891,588	$4,071,616	$-292,040

SHORE FRONT HOUSING DEVELOPMENT FUND CORPORATION C/O MET COUNCIL