BREAKING GROUND IV HOUSING DEVELOP… - Form 990 Financial Data

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

2001

Legal Domicile

Principal Officer

BRENDA ROSEN

Phone

2123899300

Tax Period

2023-01-01 to 2023-12-31

BREAKING GROUND IV HOUSING DEVELOPMENT FUND CORPORATION, founded in 2001, is a community nonprofit in the Housing & Shelter sector that reported $6.1M in total revenue in fiscal year 2023. Revenue grew 19% year-over-year, indicating healthy expansion.

Mission

BREAKING GROUND IV HDFC, INC. ("BGC IV") WAS ORGANIZED ON OCTOBER 23, 2001, UNDER SECTION 402 OF THE NOT-FOR-PROFIT CORPORATION LAW OF THE STATE OF NEW YORK. BGC IV IS A NOT-FOR-PROFIT CHARITABLE ORGANIZATION EXEMPT FROM INCOME AND EXCISE TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. BGC IV WAS FORMED FOR THE CHARITABLE PURPOSE OF OWNING, REHABILITATING, AND OPERATING A HOUSING PROJECT AT 197 BOWERY, NEW YORK CITY (ANDREWS").

Program Service Accomplishments

Program 1

Expenses: $4,954,833 Revenue: $6,130,458

BGC IV PROVIDES AN EMERGENCY SAFE HAVEN AND SOCIAL SERVICES FOR INDIVIDUALS TRANSITIONING FROM HOMELESSNESS TO PERMANENT HOUSING AT THE ANDREWS. THE ANDREWS IS COMPRISED OF 146 SHORT-TERM LIVING...

BGC IV PROVIDES AN EMERGENCY SAFE HAVEN AND SOCIAL SERVICES FOR INDIVIDUALS TRANSITIONING FROM HOMELESSNESS TO PERMANENT HOUSING AT THE ANDREWS. THE ANDREWS IS COMPRISED OF 146 SHORT-TERM LIVING UNITS, INCLUDING 138 UNITS OF SAFE HAVEN TRANSITIONAL HOUSING RESERVED FOR INDIVIDUALS SERVED BY BREAKING GROUND'S STREET TO HOME PROGRAM AND OTHER OUTREACH PROGRAMS. FOR INDIVIDUALS NOT YET READY TO TRANSITION INTO PERMANENT HOUSING, AS WELL AS THOSE WHO MAY HAVE STRUGGLED IN OTHER HOUSING PROGRAMS, THE ANDREWS OFFERS AN ALTERNATIVE TO LIFE ON THE STREET: PRIVATE, SAFE, CLEAN, AND AFFORDABLE SHORT-TERM ACCOMMODATIONS. ON-SITE CASE MANAGEMENT AND CLINICAL SERVICES ARE AVAILABLE AT THE ANDREWS TO MEET THE NEEDS OF ITS RESIDENTS AND TO HELP THEM SECURE PERMANENT HOUSING. BREAKING GROUND INTERVIEWED MORE THAN 200 CHRONICALLY STREET HOMELESS ADULTS TO BETTER UNDERSTAND WHAT FEATURES OF SHORT-TERM HOUSING WOULD BE MOST LIKELY TO ENTICE THEM OFF THE STREETS. IN 2003, BREAKING GROUND AND THE ARCHITECTURAL LEAGUE OF NEW YORK HELD AN OPEN DESIGN COMPETITION FOR A NEW FORM OF ACCOMMODATION THAT WOULD REFLECT THEIR PREFERENCES. COMPETITORS WERE ASKED TO DESIGN A PROTOTYPICAL UNIT AND SHOW HOW 19 SUCH UNITS COULD BE ORGANIZED ON A TYPICAL FLOOR. THE DESIGN OF THE ANDREWS INCORPORATES DESIGN ELEMENTS THAT ADDRESS CLIENTS' CONCERNS REGARDING ISSUES SUCH AS PRIVACY AND PERSONAL SPACE, THEREBY GAINING THEIR TRUST AND ULTIMATELY HELPING TO FOSTER THEIR TRANSITION TO PERMANENT HOMES.

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $6,130,458

Investment Income $0

Other Revenue $202

TOTAL REVENUE $6,130,660

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,001,478

Fundraising Expenses $0

Program Expenses $4,954,833

Other Expenses $3,701,938

TOTAL EXPENSES $6,703,416

Year-over-Year Comparison

	2023	2022	Change
Revenue	$6,130,660	$5,156,679	+0.2%
Expenses	$6,703,416	$5,644,192	+0.2%
Net Income	$-572,756	$-487,513	+0.2%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

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

$1,427,781

Total Directors

$1,181,074

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BRENDA E ROSEN	PRESIDENT & CEO	0.65	Officer Director	$0	$13,827	$643,431
DAVID BEER	SECRETARY	1.02	Officer Director	$0	$47,221	$384,088
BENJAMIN STACKS	CHAIRMAN & TREASURER	0.01	Officer Director	$0	$0	$0
NICHOLAS TSANG	DIRECTOR	0.01	Officer Director	$0	$0	$0
JUDITH ROSENFELD	DIRECTOR	1.05	Director	$0	$17,273	$153,555
KEVIN MORAN	CFO	0.65	Officer	$0	$47,221	$400,262

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	$6,130,660	$6,703,416	$15,946,035	$-572,756
2022	$5,156,679	$5,644,192	$13,051,730	$-487,513
2021	$3,976,423	$4,752,704	$11,967,380	$-776,281
2020	$4,219,542	$5,048,689	$12,970,967	$-829,147
2019	$4,470,705	$4,868,077	$14,327,973	$-397,372
2018	$3,687,839	$4,237,884	$13,640,548	$-550,045

BREAKING GROUND IV HOUSING DEVELOPMENT FUND CORPORATION