FAIRMONT PLACE HOUSING DEVELOPMENT FUND CORPORATION (EIN 133819617) - 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

1995

Legal Domicile

Principal Officer

VALERIE TORRES

Phone

7188426440

Tax Period

2022-05-01 to 2023-04-30

FAIRMONT PLACE HOUSING DEVELOPMENT FUND CORPORATION, founded in 1995, is a small nonprofit in the Housing & Shelter sector that reported $227K in total revenue in fiscal year 2022. Expenses of $511K exceeded revenue, resulting in a 125% operating deficit.

Mission

TO PROVIDE QUALITY HOUSING AND SOCIAL SERVICES TO THE LOW AND MODERATE- INCOME FAMILIES OF THE SOUTH BRONX, NY.

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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 (2022)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $224,062

Investment Income $2,935

Other Revenue $0

TOTAL REVENUE $226,997

Expense Breakdown

Grants Paid $0

Salaries & Benefits $27,701

Fundraising Expenses $0

Program Expenses $499,468

Other Expenses $483,793

TOTAL EXPENSES $511,494

Year-over-Year Comparison

	2022	2021	Change
Revenue	$226,997	$236,032	0.0%
Expenses	$511,494	$383,025	+0.3%
Net Income	$-284,497	$-146,993	+0.9%

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

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

$333,816

Total Directors

$44,344

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
VALERIE TORRES	CHAIR	N/A	Officer Director	$0	$0	$0
JASON BOROFF	VICE CHAIR/T	N/A	Officer Director	$0	$0	$29,669
EVELYN VELASQUEZ	SECRETARY	N/A	Officer Director	$0	$0	$0
SALVATORE GIGANTE	BOARD MEMBER	N/A	Director	$0	$0	$0
JOSEFA SANTOS	BOARD MEMBER	N/A	Director	$0	$0	$0
JOAN TRANI	BOARD MEMBER	N/A	Director	$0	$0	$14,675
STEVEN SELTZER	EXECUTIVE DI	1.00	Officer	$0	$0	$82,154
JEAN BONHOMME	CONTROLLER	1.00	Officer	$0	$0	$114,039
ANTHONY LYNCH	EXECUTIVE DI	1.00	Officer	$0	$0	$107,954

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
2023	$226,997	$511,494	$306,342	$-284,497
2022	$236,032	$383,025	$510,727	$-146,993
2021	$234,542	$249,923	$640,827	$-15,381
2020	$226,459	$303,108	$643,885	$-76,649
2019	$238,796	$277,043	$721,985	$-38,247
2018	$265,722	$246,720	$779,808	$19,002

FAIRMONT PLACE HOUSING DEVELOPMENT FUND CORPORATION