BREAKING GROUND II HOUSING DEVELOPMENT FUND CORPORATION (EIN 133846708) - 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

BRENDA ROSEN

Phone

2123899300

Tax Period

2023-01-01 to 2023-12-31

BREAKING GROUND II HOUSING DEVELOPMENT FUND CORPORATION, founded in 1995, is a community nonprofit in the Housing & Shelter sector that reported $4.8M in total revenue in fiscal year 2023. Revenue surged 148% from the prior year, signaling strong growth momentum. The organization ran a surplus of $2.8M, a strong 58% operating margin.

Mission

OWN, REHABILITATE & MANAGE LOW INCOME HOUSING PROJECTS.

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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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $8,110,374

Investment Income $-3,803,312

Other Revenue $539,188

TOTAL REVENUE $4,846,250

Expense Breakdown

Grants Paid $0

Salaries & Benefits $588,962

Fundraising Expenses $0

Program Expenses $1,889,038

Other Expenses $1,430,853

TOTAL EXPENSES $2,019,815

Year-over-Year Comparison

	2023	2022	Change
Revenue	$4,846,250	$1,951,175	+1.5%
Expenses	$2,019,815	$3,331,378	-0.4%
Net Income	$2,826,435	$-1,380,203	-3.0%

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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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

$1,581,335

Total Directors

$1,181,073

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BRENDA E ROSEN	PRESIDENT & CEO	5.26	Officer Director	$0	$13,827	$643,431
DAVID BEER	VICE PRESIDENT	8.16	Officer Director	$0	$47,221	$384,088
JUDITH ROSENFELD	SECRETARY	8.45	Officer Director	$0	$17,273	$153,554
BENJAMIN STACKS	TREASURER	0.08	Officer Director	$0	$0	$0
NICHOLAS TSANG	DIRECTOR	0.16	Director	$0	$0	$0
KEVIN MORAN	CFO	5.26	Officer	$0	$47,221	$400,262

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	$4,846,250	$2,019,815	$115,715,861	$2,826,435
2022	$1,951,175	$3,331,378	$113,381,926	$-1,380,203
2021	$5,680,382	$2,429,499	$109,976,012	$3,250,883
2020	$11,746,551	$2,291,966	$106,119,684	$9,454,585
2019	$13,025,236	$2,043,112	$94,336,155	$10,982,124
2018	$30,388,931	$1,799,700	$82,347,625	$28,589,231

BREAKING GROUND II HOUSING DEVELOPMENT FUND CORPORATION