351 EAST 61 STREET HOUSING DEVELOPMENT FUND CORPORATION C/O MET COUNCIL (EIN 134041459) - 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

1998

Legal Domicile

Principal Officer

DAVID GREENFIELD

Phone

2124539500

Tax Period

2025-01-01 to 2025-05-31

351 EAST 61 STREET HOUSING DEVELOPMENT FUND CORPORATION C/O MET COUNCIL, founded in 1998, is a small nonprofit that reported $282K in total revenue in fiscal year 2025. Revenue fell 62% from the prior year — a significant decline worth monitoring. Expenses of $543K exceeded revenue, resulting in a 92% operating deficit.

Mission

TO PROVIDE HOUSING ASSISTANCE TO SENIOR CITIZENS 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%)

Financial Overview (2025)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $278,641

Investment Income $1,833

Other Revenue $1,464

TOTAL REVENUE $281,938

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $515,683

Other Expenses $542,620

TOTAL EXPENSES $542,620

Year-over-Year Comparison

	2025	2024	Change
Revenue	$281,938	$736,935	-0.6%
Expenses	$542,620	$1,287,624	-0.6%
Net Income	$-260,682	$-550,689	-0.5%

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

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

$637,862

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LINDA SPITZER	TREASURER	0.10	Officer Director	$0	$0	$0
KENNETH ECKSTEIN	SECRETARY	0.10	Officer Director	$0	$0	$0
STACEY SCHEINBERG	PRESIDENT	0.10	Officer Director	$0	$0	$0
DAVID GREENFIELD	CEO	0.10	Officer	$0	$25,446	$288,795
ELENA SYTCHEVA	CO-MANAGING DIRECTOR	0.10	Officer	$0	$8,299	$74,033
PHILIP KIBEL	CFO	0.10	Officer	$0	$24,310	$142,231
ROBERT NEWMAN	COO	0.10	Officer	$0	$3,544	$132,803

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	$281,938	$542,620	No data	$-260,682
2024	No data	No data	No data	No data
2023	$1,045,540	$1,159,454	$8,230,387	$-113,914
2022	$670,567	$1,239,334	$8,133,271	$-568,767
2022	$670,567	$1,239,334	$8,133,271	$-568,767
2021	$658,762	$1,152,138	$8,463,578	$-493,376
2020	$696,632	$1,173,998	$8,793,747	$-477,366
2019	$718,943	$1,158,505	$9,158,394	$-439,562
2018	$716,495	$1,107,209	$9,512,421	$-390,714

351 EAST 61 STREET HOUSING DEVELOPMENT FUND CORPORATION C/O MET COUNCIL