FILOMENA GARDENS HOUSING DEVELOPMENT FUND COMPANY INC (EIN 133975116) - 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

1997

Legal Domicile

Principal Officer

SALVATORE GIGANTE

Phone

3477262547

Tax Period

2024-01-01 to 2024-12-31

FILOMENA GARDENS HOUSING DEVELOPMENT FUND COMPANY INC, founded in 1997, is a small nonprofit in the Human Services sector that reported $831K in total revenue in fiscal year 2024. Expenses of $1.4M exceeded revenue, resulting in a 74% operating deficit.

Mission

PROVIDE AFFORDABLE HOUSING FOR THE ELDERLY AND HANDICAPPED UNDER SECTION 202 OF THE FEDERAL HOUSING ACT OF 1959.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $818,441

Investment Income $12,153

Other Revenue $0

TOTAL REVENUE $830,594

Expense Breakdown

Grants Paid $0

Salaries & Benefits $137,016

Fundraising Expenses $0

Program Expenses $1,349,525

Other Expenses $1,306,592

TOTAL EXPENSES $1,443,608

Year-over-Year Comparison

	2024	2023	Change
Revenue	$830,594	$810,846	+0.0%
Expenses	$1,443,608	$1,175,604	+0.2%
Net Income	$-613,014	$-364,758	+0.7%

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

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

$285,105

Total Directors

$250,490

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ENRICO BOCCIA	CHAIR	0.00	Officer Director	$0	$0	$0
EVELYN VELAZQUEZ	TREASURER/SECRETARY	0.00	Officer Director	$0	$0	$0
SALVATORE GIGANTE	VICE PRESIDENT	1.00	Officer Director	$0	$0	$250,490
ANGELA DAVIS FARRISH	CHIEF EXECUTIVE DIRECT	1.00	Officer	$0	$0	$34,615
SONAL SHAH	CONTROLLER	1.00	Highest	$0	$0	$144,679

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	$830,594	$1,443,608	$3,904,801	$-613,014
2023	$810,846	$1,175,604	$4,185,499	$-364,758
2022	$812,756	$1,296,275	$4,302,292	$-483,519
2021	$888,822	$1,244,244	$4,483,088	$-355,422
2020	$-323,027	No data	$4,715,526	No data
2019	$-268,314	No data	$5,304,387	No data
2018	$-73,470	No data	$5,146,543	No data

FILOMENA GARDENS HOUSING DEVELOPMENT FUND COMPANY INC