NEW ROCHELLE COMMUNITY HOUSING DEVELOPMENT CORPORATION

EIN: 133735311 501(c)(3) Housing & Shelter

NEW ROCHELLE, NY

Total Revenue
$275,250
Total Expenses
$1,113,197
Total Assets
$1,501,443
Net Assets
$1,060,624
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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
1998
Legal Domicile
NY
Principal Officer
CHARLES DEPASQUALE
Phone
9146337092
Tax Period
2023-01-01 to 2023-12-31

NEW ROCHELLE COMMUNITY HOUSING DEVELOPMENT CORPORATION, founded in 1998, is a small nonprofit in the Housing & Shelter sector that reported $275K in total revenue in fiscal year 2023. Expenses of $1.1M exceeded revenue, resulting in a 304% operating deficit.

Mission

TO OWN, ACQUIRE, CONSTRUCT, LEASE, RECEIVE GRANTS, PROVIDE FINANCING AND MANAGE AFFORDABLE RESIDENTIAL HOUSING FOR RESIDENTS IN AREAS DESIGNATED BY THE CITY COUNCIL OF THE CITY OF NEW ROCHELLE, NEW YORK.

Program Service Accomplishments

Program 1
Expenses: $1,113,197 Revenue: $275,250

TO OWN, ACQUIRE, BUILD, AND SELL AFFORDABLE SINGLE FAMILY HOMES TO LOW-INCOME FIRST TIME HOMEBUYERS IN THE CITY OF NEW ROCHELLE, NEW YORK.

Program 2

TO RECEIVE GRANTS AND PROVIDE BELOW MARKET FINANCING TO MULTIFAMILY RESIDENTAL RENTAL PROJECTS QUALIFYING AS LOW INCOME HOUSING UNDER IRC 42.

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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 (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $275,250
Investment Income $0
Other Revenue $0
TOTAL REVENUE $275,250

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $1,113,197
Other Expenses $1,113,197
TOTAL EXPENSES $1,113,197

Year-over-Year Comparison

2023 2022 Change
Revenue $275,250 $275,251 0.0%
Expenses $1,113,197 $2,012,989 -0.4%
Net Income $-837,947 $-1,737,738 -0.5%
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

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Governance

Voting Members
3
Independent Members
2
Employees
N/A
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
1
$243,843
Total Directors
5
$243,843
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JAMES C FREEMAN PRESIDENT 1.00
Director
$0 $0 $0
CHARLES J DEPASQUALE EXECUTIVE VICE PRESIDENT 35.00
Officer Director
$0 $36,995 $243,843
WALDO BEST TREASURER 1.00
Director
$0 $0 $0
MARY SMITH SECRETARY 1.00
Director
$0 $0 $0
DANIEL SOLIMINE DIRECTOR 1.00
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 No data No data No data No data
2023 $275,250 $1,113,197 $1,501,443 $-837,947
2022 $275,251 $2,012,989 $2,326,193 $-1,737,738
2021 $575,251 $12,958 $4,050,942 $562,293
2020 $275,251 $6,110,301 $3,475,691 $-5,835,050
2019 $276,026 $362,880 $9,300,440 $-86,854
2018 $275,251 $1,463,147 $9,360,631 $-1,187,896
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