Lincoln Towers Housing Development Fund Corporation

EIN: 133974371 501(c)(3) Housing & Shelter

Elmsford, NY

Total Revenue
$2,251,148
Total Expenses
$2,135,038
Total Assets
$7,089,980
Net Assets
$-3,780,062
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1998
Legal Domicile
NY
Principal Officer
Rev Dr Michael J Rouse
Phone
9145925434
Tax Period
2024-07-01 to 2025-06-30

Lincoln Towers Housing Development Fund Corporation, founded in 1998, is a community nonprofit in the Housing & Shelter sector that reported $2.3M in total revenue in fiscal year 2024. Expenses of $2.1M left a modest 5% surplus.

Mission

TO ACQUIRE AND OPERATE AN 89-UNIT RESIDENTIAL RENTAL PROJECT, LOCATED IN NEW ROCHELLE, NY, UNDER THE NATIONAL HOUSING ACT.

Program Service Accomplishments

Program 1
Expenses: $1,935,998 Revenue: $473,511

ACTIVITIES RELATED TO 89 LOW INCOME HOUSING UNITS SUPPORTED BY THE US DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT UNDER THE SECTION 8 AND THE SECTION 8 CONVERSION PROGRAMS.

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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 $1,703,634
Program Service Revenue $473,511
Investment Income $74,003
Other Revenue $0
TOTAL REVENUE $2,251,148

Expense Breakdown

Grants Paid $0
Salaries & Benefits $247,418
Fundraising Expenses $0
Program Expenses $1,935,998
Other Expenses $1,887,620
TOTAL EXPENSES $2,135,038

Year-over-Year Comparison

2024 2023 Change
Revenue $2,251,148 $2,151,933 +0.0%
Expenses $2,135,038 $2,346,153 -0.1%
Net Income $116,110 $-194,220 -1.6%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
8
Independent Members
8
Employees
2
Volunteers
8

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
3
$0
Total Directors
8
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
REV DR MICHAEL J ROUSE CHAIR 0.1
Officer Director
$0 $0 $0
ARNETHA OWENS RECORDING SECRETARY 0.1
Officer Director
$0 $0 $0
BERNICE SMITH TREASURER 0.1
Officer Director
$0 $0 $0
ANNA DAVIS DIRECTOR 0.1
Director
$0 $0 $0
AYRIS GRANBY DIRECTOR 0.1
Director
$0 $0 $0
PATRICIA JOHNSON DIRECTOR 0.1
Director
$0 $0 $0
REV DR WALLACE L NOBLE DIRECTOR 0.1
Director
$0 $0 $0
MARY WILLIAMS DIRECTOR 0.1
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
2025 $2,251,148 $2,135,038 $7,089,980 $116,110
2024 $2,151,933 $2,346,153 $7,212,500 $-194,220
2023 $2,004,613 $2,176,371 $7,666,621 $-171,758
2022 $1,977,813 $2,065,286 $8,040,061 $-87,473
2021 $1,942,997 $2,145,909 $9,118,785 $-202,912
2020 $1,881,916 $2,426,354 $9,733,373 $-544,438
2019 $1,774,843 $2,359,251 $10,277,181 $-584,408
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