COUNCIL TOWERS IV HOUSING DEVELOPMENT FUND CORPORATION C/O MET COUNCIL

EIN: 133986958 501(c)(3) Housing & Shelter

NEW YORK, NY

Total Revenue
$1,792,265
Total Expenses
$2,088,600
Total Assets
$5,051,928
Net Assets
$-8,869,946
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1997
Legal Domicile
NY
Principal Officer
DAVID G GREENFIELD
Phone
2124539500
Tax Period
2023-01-01 to 2023-12-31

COUNCIL TOWERS IV HOUSING DEVELOPMENT FUND CORPORATION C/O MET COUNCIL, founded in 1997, is a community nonprofit in the Housing & Shelter sector that reported $1.8M in total revenue in fiscal year 2023. Revenue grew 16% year-over-year, indicating healthy expansion. Expenses of $2.1M exceeded revenue, resulting in a 17% operating deficit.

Mission

TO PROVIDE SUBSIDIZED RENTAL APARTMENTS FOR SENIORS AND LOW INCOME INDIVIDUALS.

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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 $1,736,291
Investment Income $51,640
Other Revenue $4,334
TOTAL REVENUE $1,792,265

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $1,816,627
Other Expenses $2,088,600
TOTAL EXPENSES $2,088,600

Year-over-Year Comparison

2023 2022 Change
Revenue $1,792,265 $1,551,486 +0.2%
Expenses $2,088,600 $1,975,936 +0.1%
Net Income $-296,335 $-424,450 -0.3%
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
4
Independent Members
4
Employees
N/A
Volunteers
4

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
7
$1,359,859
Total Directors
4
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ABE FOXMAN TREASURER 0.10
Officer Director
$0 $0 $0
KEN ECKSTEIN SECRETARY 0.10
Officer Director
$0 $0 $0
LINDA SPITZER DIRECTOR 0.10
Director
$0 $0 $0
STACEY SCHEINBERG PRESIDENT 0.10
Officer Director
$0 $0 $0
DAVID GREENFIELD CEO 0.10
Officer
$0 $60,217 $688,172
ELENA SYTCHEVA CO-MANAGING DIRECTOR 0.10
Officer
$0 $17,423 $174,472
PHILIP KIBEL CFO 0.10
Officer
$0 $39,047 $207,386
ROBERT NEWMAN COO 0.10
Officer
$0 $5,476 $289,829
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 $1,792,265 $2,088,600 $5,051,928 $-296,335
2022 $1,551,486 $1,975,936 $5,274,610 $-424,450
2022 $1,551,486 $1,975,936 $5,274,610 $-424,450
2021 $1,725,584 $2,208,410 $5,439,742 $-482,826
2020 $1,675,460 $2,182,541 $5,815,623 $-507,081
2019 $1,221,726 $1,727,840 $5,739,489 $-506,114
2018 $1,114,735 $1,676,122 $6,077,050 $-561,387
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