FORTUNE HOUSING DEVELOPMENT FUND CORPORATION

EIN: 134127747 501(c)(3) Housing & Shelter

LONG ISLAND CITY, NY

Total Revenue
$-2,002
Total Expenses
$2,228
Total Assets
$-772,575
Net Assets
$-811,919
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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
2010
Legal Domicile
NY
Principal Officer
STEVEN HICKMAN
Phone
2126917554
Tax Period
2023-01-01 to 2023-12-31

FORTUNE HOUSING DEVELOPMENT FUND CORPORATION, founded in 2010, is a micro nonprofit in the Housing & Shelter sector that reported $2K in total revenue in fiscal year 2023.

Mission

FORTUNE HFDC WAS ORGANIZED FOR THE PURPOSE OF DEVELOPING AND OPERATING LOW INCOME HOUSING.

Program Service Accomplishments

Program 1
Expenses: $2,228

THE FORTUNE HDFC WAS ORGANIZED FOR THE PURPOSE OF DEVELOPING AND OPERATING LOW INCOME HOUSING.

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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 $0
Investment Income $3
Other Revenue $-2,005
TOTAL REVENUE $-2,002

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $2,228
Other Expenses $2,228
TOTAL EXPENSES $2,228

Year-over-Year Comparison

2023 2022 Change
Revenue $-2,002 $-132,171 -1.0%
Expenses $2,228 $1,891 +0.2%
Net Income $-4,230 $-134,062 -1.0%
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
3
Independent Members
1
Employees
N/A
Volunteers
1

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
3
$576,158
Total Directors
3
$576,158
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
BETTY P RAUCH PRESIDENT/CEO 2.00
Officer Director
$0 $0 $0
JOANNE PAGE SECRETARY 1.00
Officer Director
$0 $34,541 $345,752
SHERRY GOLDSTEIN TREASURER 1.00
Officer Director
$0 $19,840 $230,406
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 $-2,002 $2,228 $-772,575 $-4,230
2022 $-132,171 $1,891 $-770,573 $-134,062
2021 $-154,665 $1,718 $-638,402 $-156,383
2020 $-866,517 $2,295 $-483,737 $-868,812
2019 $-892,172 $7,063 $382,780 $-899,235
2018 $260,106 $250 $3,402,234 $259,856
2018 $-938,230 $250 $2,203,898 $-938,480
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