TIMPSON HOUSING DEVELOPMENT FUND C… - Form 990 Financial Data

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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

1991

Legal Domicile

Principal Officer

SALVATORE GIGANTE

Phone

3477262547

Tax Period

2024-01-01 to 2024-12-31

TIMPSON HOUSING DEVELOPMENT FUND CORPORATION, founded in 1991, is a community nonprofit that reported $2.6M in total revenue in fiscal year 2024. Expenses of $3.4M exceeded revenue, resulting in a 29% operating deficit.

Mission

THE COMPANY OPERATES LOW INCOME HOUSING PROJECTS IN THE SOUTH BRONX. IN ADDITION THE COMPANY PROVIDES SOCIAL SERVICES FOR THE TENANTS.

Program Service Accomplishments

Program 1

Expenses: $3,179,129

THE COMPANY OPERATES LOW INCOME HOUSING IN THE SOUTH BROXN. THE COMPANY ALSO PROVIDES SOCIAL SERVICES FOR THE TENANTS.

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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 $2,615,427

Investment Income $9,489

Other Revenue $0

TOTAL REVENUE $2,624,916

Expense Breakdown

Grants Paid $0

Salaries & Benefits $590,557

Fundraising Expenses $0

Program Expenses $3,179,129

Other Expenses $2,808,549

TOTAL EXPENSES $3,399,106

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,624,916	$2,579,704	+0.0%
Expenses	$3,399,106	$2,688,940	+0.3%
Net Income	$-774,190	$-109,236	+6.1%

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

$285,105

Total Directors

$250,490

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ENRICO BOCCIA	CHAIR	0.00	Officer Director	$0	$0	$0
EVELYN VELAZQUEZ	TREASURER/SECRETARY	0.00	Officer Director	$0	$0	$0
SALVATORE GIGANTE	VICE PRESIDENT	1.00	Officer Director	$0	$0	$250,490
ANGELA DAVIS FARRISH	CHIEF EXECUTIVE DIRECT	1.00	Officer	$0	$0	$34,615
SONAL SHAH	CONTROLLER	1.00	Highest	$0	$0	$144,679

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	$2,624,916	$3,399,106	$6,126,850	$-774,190
2023	$2,579,704	$2,688,940	$7,049,197	$-109,236
2022	$2,600,012	$2,743,950	$7,010,566	$-143,938
2021	$2,548,819	$2,439,219	$7,539,222	$109,600
2020	$2,419,314	$2,272,384	$7,471,817	$146,930

TIMPSON HOUSING DEVELOPMENT FUND CORPORATION