ABYSSINIAN DEVELOPMENT CORPORATION (EIN 133552154) - 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

1989

Legal Domicile

Principal Officer

PRINCESS PALMER

Phone

6464425999

Tax Period

2024-01-01 to 2024-12-31

ABYSSINIAN DEVELOPMENT CORPORATION, founded in 1989, is a mid-sized nonprofit that reported $31.9M in total revenue in fiscal year 2024. Revenue surged 172% from the prior year, signaling strong growth momentum. The organization ran a surplus of $8.7M, a strong 27% operating margin.

Mission

A COMPREHENSIVE COMMUNITY DEVELOPMENT THROUGH AFFORDABLE HOUSING FOR LOW AND MODERATE INCOME FAMILIES, EDUCATIONAL PROGRAMS, AND FIRST TIME HOME-BUYER TRAINING TO THE HARLEM COMMUNITY OF NEW YORK CITY.

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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 $234,970

Program Service Revenue $10,716,313

Investment Income $20,614,509

Other Revenue $362,004

TOTAL REVENUE $31,927,796

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,657,721

Fundraising Expenses $111,529

Program Expenses $20,550,303

Other Expenses $20,551,857

TOTAL EXPENSES $23,209,578

Year-over-Year Comparison

	2024	2023	Change
Revenue	$31,927,796	$11,745,428	+1.7%
Expenses	$23,209,578	$17,192,373	+0.3%
Net Income	$8,718,218	$-5,446,945	-2.6%

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

$154,392

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DR CYNTHIA BARNES	BOARD MEMBER	1.00	Director	$0	$0	$0
ALVIN VINSON TREASURER	HUMAN RESOURCES COMMITTEE	1.00	Director	$0	$0	$0
DR DEBORAH ALLEN	BOARD MEMBER	1.00	Director	$0	$0	$0
G ANTHONY ANDERSEN JOINT CHAIR OF	REAL ESTATE & FINANCE COMM	2.50	Director	$0	$0	$0
LARRY DAIS	CHAIR OF AUDIT COMMITTEE	1.50	Director	$0	$0	$0
DR SANDYE JOHNSON	BOARD MEMBER	5.00	Director	$0	$0	$0
GERRI WARREN-MERRICK	BOARD MEMBER	1.00	Director	$0	$0	$0
PHILIP ISOM	BOARD MEMBER	1.50	Director	$0	$0	$0
DARRYL WILLIAMS	BOARD MEMBER	1.50	Director	$0	$0	$0
TIMOTHY C NASH JR	SECRETARY	2.00	Director	$0	$0	$0
PRINCESS PALMER	COO/CFO	35.00	Officer	$145,000	$9,392	$154,392

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	$31,927,796	$23,209,578	$118,153,697	$8,718,218
2023	$11,745,428	$17,192,373	$95,675,744	$-5,446,945
2022	$9,714,669	$16,057,006	$101,310,476	$-6,342,337
2021	$11,407,313	$17,817,270	$107,838,994	$-6,409,957
2020	$9,959,988	$16,551,494	$112,525,482	$-6,591,506

ABYSSINIAN DEVELOPMENT CORPORATION