FULTON JEFFERSON HOUSING DEVELOPME… - Form 990 Financial Data

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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

2000

Legal Domicile

Principal Officer

ADAM WEINSTEIN

Phone

2122439090

Tax Period

2023-01-01 to 2023-12-31

FULTON JEFFERSON HOUSING DEVELOPMENT FUND CORPORATION, founded in 2000, is a community nonprofit in the Housing & Shelter sector that reported $1.2M in total revenue in fiscal year 2023. Revenue grew 11% year-over-year, indicating healthy expansion. Expenses of $1.5M exceeded revenue, resulting in a 31% operating deficit.

Mission

FULTON JEFFERSON HOUSING DEVELOPMENT FUND CORPORATION WAS FORMED TO OWN AND OPERATE A 107-UNIT RESIDENTIAL APARTMENT COMPLEX LOCATED IN THE BOROUGH OF BRONX, NY, TO PROVIDE LOW INCOME HOUSING.

Program Service Accomplishments

Program 1

Expenses: $1,368,890 Revenue: $1,119,985

PROVIDING LOW AND MODERATE INCOME HOUSING FOR FAMILIES IN NEW YORK CITY. THE REPORTING ORGANIZATION OWNS AND OPERATES A HOUSING PROJECT KNOWN AS FULTON JEFFERSON APARTMENTS LOCATED IN THE BRONX IN...

PROVIDING LOW AND MODERATE INCOME HOUSING FOR FAMILIES IN NEW YORK CITY. THE REPORTING ORGANIZATION OWNS AND OPERATES A HOUSING PROJECT KNOWN AS FULTON JEFFERSON APARTMENTS LOCATED IN THE BRONX IN NEW YORK CITY. THE PROJECT CONSISTS OF 107 DWELLING UNITS.

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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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $1,062,046

Investment Income $42,285

Other Revenue $57,939

TOTAL REVENUE $1,162,270

Expense Breakdown

Grants Paid $0

Salaries & Benefits $272,198

Fundraising Expenses $0

Program Expenses $1,368,890

Other Expenses $1,252,853

TOTAL EXPENSES $1,525,051

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,162,270	$1,046,759	+0.1%
Expenses	$1,525,051	$1,581,344	0.0%
Net Income	$-362,781	$-534,585	-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

Governance

Voting Members

Independent Members

N/A

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

$2,541,726

Total Directors

$1,757,428

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ADAM WEINSTEIN	PRESIDENT/CEO	1.00	Officer Director	$0	$172,076	$990,213
JAMES ROBERT PIGOTT JR	VICE PRESIDENT AND SECRETA	1.00	Officer Director	$0	$79,704	$430,091
LUKEMAN OGUNYINKA	TREASURER	1.00	Officer Director	$0	$62,804	$337,124
MATTHEW KELLY	VICE PRESIDENT	1.00	Officer	$0	$73,253	$423,493
MICHAEL WADMAN	VICE PRESIDENT	1.00	Officer	$0	$58,015	$360,805

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	$1,162,270	$1,525,051	$5,073,164	$-362,781
2022	$1,046,759	$1,581,344	$5,285,110	$-534,585
2022	$1,046,759	$1,581,344	$5,285,110	$-534,585
2021	$1,011,328	$1,451,865	$5,678,741	$-440,537
2020	$980,124	$1,460,088	$6,199,497	$-479,964
2019	$1,029,529	$1,453,261	$6,716,952	$-423,732
2018	$1,011,903	$1,386,568	$6,988,217	$-374,665

FULTON JEFFERSON HOUSING DEVELOPMENT FUND CORPORATION