Promesa Housing Development Fund Corporation Inc (EIN 133608906) - 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

1990

Legal Domicile

Principal Officer

Raul Russi

Phone

7182991100

Tax Period

2024-01-01 to 2024-12-31

Promesa Housing Development Fund Corporation Inc, founded in 1990, is a community nonprofit in the Community Improvement sector that reported $5.7M in total revenue in fiscal year 2024. Revenue fell 27% from the prior year — a significant decline worth monitoring. Expenses of $7.1M exceeded revenue, resulting in a 24% operating deficit.

Mission

TO COMBAT COMMUNITY DETERIORATION AND LESSEN NEIGHBORHOOD TENSIONS THROUGH THE RESIDENTIAL REVITALIZATION OF THE BRONX AND ADJACENT AREAS OF BRONX COUNTY.

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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 $400,000

Program Service Revenue $5,277,570

Investment Income $1,382

Other Revenue $0

TOTAL REVENUE $5,678,952

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,570,334

Fundraising Expenses $0

Program Expenses $6,517,749

Other Expenses $4,490,083

TOTAL EXPENSES $7,060,417

Year-over-Year Comparison

	2024	2023	Change
Revenue	$5,678,952	$7,768,189	-0.3%
Expenses	$7,060,417	$9,682,782	-0.3%
Net Income	$-1,381,465	$-1,914,593	-0.3%

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

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

$2,972,766

Total Directors

Key Employees

$208,347

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RAUL RUSSI	PRESIDENT	0.0	Officer	$0	$101,830	$998,427
LYMARIS ALBORS	CHIEF EXECUTIVE OFFICER	0.0	Officer	$0	$56,068	$892,752
JOSE A RODRIGUEZ	CHIEF LEGAL OFFICER/EXEC. VP	0.0	Officer	$0	$30,262	$592,593
VICKY GATELL	CHIEF FINANCIAL OFFICER	0.0	Officer	$0	$46,781	$488,994
LORRAINE COLEMAN	VP OF SPECIAL PROJECTS	35.0	Highest	$204,061	$43,316	$247,377
DAVID ALMONTE	DIRECTOR - HOUSING DEVELOPMENT	35.0	Highest	$199,442	$46,396	$245,838
ANNE-MARIE A HENDRICKSON	SR. VP OF AFFORABLE HOUSING	35.0	Key Emp	$194,327	$14,020	$208,347
CORNELIA NAROVICI	CONSTRUCTION DIRECTOR	35.0	Highest	$167,171	$21,811	$188,982
ELIEZER RODRIGUEZ ESQ	CHAIR	1.0	Officer Director	$0	$0	$0
CARMEN S MELERO	VICE CHAIR	1.0	Officer Director	$0	$0	$0
MARYBETH HOTALING	TREASURER	1.0	Officer Director	$0	$0	$0
GILBERT HERNANDEZ	SECRETARY	1.0	Officer Director	$0	$0	$0
ARNIE SEGARRA	MEMBER	1.0	Director	$0	$0	$0

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	$5,678,952	$7,060,417	$50,738,044	$-1,381,465
2023	$7,768,189	$9,682,782	$46,450,343	$-1,914,593
2022	$7,954,144	$9,492,956	$46,161,430	$-1,538,812
2021	$8,538,986	$11,348,226	$39,360,301	$-2,809,240
2020	$10,310,413	$9,809,899	$29,117,921	$500,514
2019	$12,679,109	$9,642,116	$28,286,592	$3,036,993
2018	$9,718,930	$9,482,506	$25,696,045	$236,424

Promesa Housing Development Fund Corporation Inc