CONCOURSE GARDENS HOUSING DEVELOPMENT FUND COMPANY INC

EIN: 133696061 501(c)(3)

NEW YORK, NY

Total Revenue
$1,661,023
Total Expenses
$2,141,733
Total Assets
$6,040,132
Net Assets
$-4,848,936
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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
1992
Legal Domicile
NY
Principal Officer
LINDA R HOFFMAN
Phone
2129627653
Tax Period
2024-07-01 to 2025-06-30

CONCOURSE GARDENS HOUSING DEVELOPMENT FUND COMPANY INC, founded in 1992, is a community nonprofit that reported $1.7M in total revenue in fiscal year 2024. Revenue decreased 16% compared to the prior year. Expenses of $2.1M exceeded revenue, resulting in a 29% operating deficit.

Mission

DEVELOPING, CONSTRUCTING, AND OPERATING HOUSING AND RELATED FACILITIES FOR THE ELDERLY AND HANDICAPPED.

Program Service Accomplishments

Program 1
Expenses: $1,847,012 Revenue: $358,404

PROVIDES 119 UNITS OF SUBSIDIZED, LOW INCOME HOUSING FOR SENIOR CITIZENS.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,294,937
Program Service Revenue $358,404
Investment Income $1,103
Other Revenue $6,579
TOTAL REVENUE $1,661,023

Expense Breakdown

Grants Paid $0
Salaries & Benefits $443,722
Fundraising Expenses $0
Program Expenses $1,847,012
Other Expenses $1,698,011
TOTAL EXPENSES $2,141,733

Year-over-Year Comparison

2024 2023 Change
Revenue $1,661,023 $1,972,254 -0.2%
Expenses $2,141,733 $1,984,286 +0.1%
Net Income $-480,710 $-12,032 +39.0%
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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Governance

Voting Members
7
Independent Members
7
Employees
10
Volunteers
7

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
6
$1,186,051
Total Directors
7
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
WILLIAM N HUBBARD IV PRESIDENT 0.20
Officer Director
$0 $0 $0
ELIZABETH R TOZER VICE PRESIDENT 0.20
Officer Director
$0 $0 $0
JOAN FINKELSTEN EXEC. SECRETARY/TREASURER 0.20
Officer Director
$0 $0 $0
WILLIAM N HUBBARD III ASST. SECRETARY 0.20
Officer Director
$0 $0 $0
PEARL CHANG BOARD MEMBER 0.20
Director
$0 $0 $0
HOWARD LEPOW BOARD MEMBER 0.20
Director
$0 $0 $0
ANN VAN NESS BOARD MEMBER 0.20
Director
$0 $0 $0
LINDA R HOFFMAN CHEIF EXECUTIVE OFFICER 1.00
Officer
$0 $35,975 $820,576
ROLANDO A BLANCO CHEIF FINANCIAL OFFICER 1.00
Officer
$0 $35,975 $365,475
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 $1,661,023 $2,141,733 $6,040,132 $-480,710
2024 $1,972,254 $1,984,286 $6,596,094 $-12,032
2023 $2,006,659 $1,805,368 $6,344,175 $201,291
2022 $1,528,911 $1,676,738 $5,972,844 $-147,827
2021 $1,915,994 $1,659,697 $6,125,545 $256,297
2020 $1,734,177 $1,652,707 $5,983,411 $81,470
2019 $1,147,697 $1,507,363 $5,658,392 $-359,666
2018 $1,165,167 $1,423,544 $6,032,993 $-258,377
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