KENNETH GLADSTONE BUILDING HOUSING DEVELOPMENT FUND COMPANY INC

EIN: 134078893 501(c)(3) Housing & Shelter

NEW YORK, NY

Total Revenue
$933,232
Total Expenses
$1,172,053
Total Assets
$7,279,103
Net Assets
$-627,177
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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
JEFFREY FARBER MD
Phone
2128705000
Tax Period
2023-01-01 to 2023-12-31

KENNETH GLADSTONE BUILDING HOUSING DEVELOPMENT FUND COMPANY INC, founded in 1997, is a small nonprofit in the Housing & Shelter sector that reported $933K in total revenue in fiscal year 2023. Expenses of $1.2M exceeded revenue, resulting in a 26% operating deficit.

Mission

OUR MISSION IS TO EMPOWER OLDER ADULTS TO ENHANCE PURPOSE AND WELL-BEING THROUGH A PORTFOLIO OF INNOVATIVE HEALTH CARE SERVICES.

Program Service Accomplishments

Program 1
Expenses: $1,101,718 Revenue: $902,906

THE GLADSTONE BUILDING, AN AFFILIATE OF JEWISH HOME LIFECARE (D/B/A THE NEW JEWISH HOME), REFLECTS JEWISH HOME'S COMMITMENT TO PROVIDING AFFORDABLE HOUSING WITH SUPPORTIVE SERVICES IN THE COMMUNITY...

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THE GLADSTONE BUILDING, AN AFFILIATE OF JEWISH HOME LIFECARE (D/B/A THE NEW JEWISH HOME), REFLECTS JEWISH HOME'S COMMITMENT TO PROVIDING AFFORDABLE HOUSING WITH SUPPORTIVE SERVICES IN THE COMMUNITY. THIS IS JEWISH HOME'S SECOND HOUSING AND URBAN DEVELOPMENT (HUD) SECTION 202 RENT-SUBSIDIZED HOUSING FOR LOW-INCOME SENIORS. THE 49 ONE-BEDROOM APARTMENT BUILDING FEATURES COMMUNITY SPACES, LAUNDRY, PARKING AND LANDSCAPED GROUNDS. ALL APARTMENTS HAVE FULL KITCHENS AND ARE ADAPTABLE FOR USE BY DISABLED PERSONS. THE GLADSTONE BUILDING, LOCATED AT 2620 UNIVERSITY AVENUE, BRONX, NY, OPENED IN 2005.

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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 $902,898
Investment Income $30,326
Other Revenue $8
TOTAL REVENUE $933,232

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $1,101,718
Other Expenses $1,172,053
TOTAL EXPENSES $1,172,053

Year-over-Year Comparison

2023 2022 Change
Revenue $933,232 $975,797 0.0%
Expenses $1,172,053 $1,109,086 +0.1%
Net Income $-238,821 $-133,289 +0.8%
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

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Liquidity & Cash Position

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Governance

Voting Members
7
Independent Members
5
Employees
N/A
Volunteers
5

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
6
$1,810,340
Total Directors
7
$1,810,340
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ALAN ALTSCHULER TREASURER 0.20
Officer Director
$0 $0 $0
ELIZABETH PAGEL SEREBRANSKY CO-CHAIR 0.20
Officer Director
$0 $0 $0
JEFFREY FARBER MD PRESIDENT AND CEO 0.20
Officer Director
$0 $61,538 $1,212,894
LISA FEINER DIRECTOR 0.20
Director
$0 $0 $0
MARK WEISS CFO 0.20
Officer Director
$0 $22,692 $597,446
PETER HESS DIRECTOR 0.20
Director
$0 $0 $0
TAMI J SCHNEIDER CO-CHAIR 0.20
Officer Director
$0 $0 $0
LYNN OBERLAND SECRETARY 0.20
Officer
$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
2024 No data No data No data No data
2023 $933,232 $1,172,053 $7,279,103 $-238,821
2022 $975,797 $1,109,086 $7,496,355 $-133,289
2021 $909,335 $1,029,308 $7,625,940 $-119,973
2020 $927,647 $1,064,997 $7,750,593 $-137,350
2019 $947,771 $1,102,275 $7,936,946 $-154,504
2018 $969,771 $1,011,712 $8,095,744 $-41,941
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