THE WEBSTER APARTMENTS

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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

1916

Legal Domicile

Principal Officer

SIOBHAN MCMANUS

Phone

2129679000

Tax Period

2023-10-01 to 2024-09-30

THE WEBSTER APARTMENTS, founded in 1916, is a community nonprofit in the Housing & Shelter sector that reported $2.0M in total revenue in fiscal year 2023. Revenue fell 96% from the prior year — a significant decline worth monitoring. Expenses of $3.9M exceeded revenue, resulting in a 98% operating deficit.

Mission

TO PROVIDE SAFE, AFFORDABLE SHORT-TERM ACCOMMODATIONS SPECIFICALLY FOR WOMEN WORKING, TRAINING, AND/OR STUDYING IN NEW YORK CITY. THE WEBSTER PROMOTES A HEALTHY WELCOMING ENVIRONMENT, PROVIDING NUTRITIOUS MEALS, COMFORTABLE SURROUNDINGS, AND THE OPPORTUNITY TO CONNECT WITH OTHERS.

Program Service Accomplishments

Program 1

Expenses: $2,685,278 Revenue: $1,525,637

THE WEBSTER APARTMENTS OFFERS SAFE AND AFFORDABLE ACCOMMODATIONS SPECIFICALLY FOR WOMEN WHO ARE WORKING, STUDYING, INTERNING, OR TRAINING IN NEW YORK CITY. ONLY WOMEN WHO ARE WORKING FULL-TIME...

THE WEBSTER APARTMENTS OFFERS SAFE AND AFFORDABLE ACCOMMODATIONS SPECIFICALLY FOR WOMEN WHO ARE WORKING, STUDYING, INTERNING, OR TRAINING IN NEW YORK CITY. ONLY WOMEN WHO ARE WORKING FULL-TIME, ENROLLED IN AN UNDERGRADUATE OR GRADUATE PROGRAM AT A COLLEGE OR UNIVERSITY, TRADE, TECHNICAL OR OTHER SCHOOL PROGRAM; OR ARE WORKING FOR AN INTERNSHIP, TRAINEESHIP, FELLOWSHIP, OR CLERKSHIP ARE ELIGIBLE TENANTS OF THE APARTMENTS. DURING FISCAL YEAR 2022 THE ORGANIZATION ENTERED INTO A CONTRACT TO SELL ITS 13-STORY APARTMENT BUILDING, AND SECURED A TWO-YEAR LEASE FOR A 48-ROOM PREMESIS IN MANHATTAN FOR USE AND OCCUPANCY BY PARTICIPANTS IN ITS PROGRAMS STARTING IN MARCH 2023. A NEW BUILDING, LOCATED AT 229 DUFFIELD ST. IN BROOKLYN, NY WAS PURCHASED AND IS CURRENTLY UNDERGOING RENOVATIONS. WE EXPECT TO WELCOME GUESTS TO THE NEW LOCATION IN MAY, 2025.

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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 $500

Program Service Revenue $1,525,637

Investment Income $446,826

Other Revenue $0

TOTAL REVENUE $1,972,963

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,007,234

Fundraising Expenses $0

Program Expenses $2,685,278

Other Expenses $2,897,341

TOTAL EXPENSES $3,904,575

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,972,963	$46,006,451	-1.0%
Expenses	$3,904,575	$4,731,561	-0.2%
Net Income	$-1,931,612	$41,274,890	-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

Governance

Voting Members

Independent Members

Employees

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

$358,088

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ROY J BERNSTEIN	PRESIDENT	3.00	Officer Director	$0	$0	$0
STEVEN GYORY	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
ANNETTE CLEARWATERS	TREASURER	1.00	Officer Director	$0	$0	$0
ANDREW S BLATT	SECRETARY	1.00	Officer Director	$0	$0	$0
GEORGE CURTIS	DIRECTOR	1.00	Director	$0	$0	$0
ELIZABETH H GAMBEE	DIRECTOR - THRU 01/2024	1.00	Director	$0	$0	$0
DANIELLE LESSER	DIRECTOR	1.00	Director	$0	$0	$0
KATHRYN R STOKES	DIRECTOR	1.00	Director	$0	$0	$0
KATHLEEN WOODRUFF	DIRECTOR	1.00	Director	$0	$0	$0
SIOBHAN MCMANUS	EXECUTIVE DIRECTOR	40.00	Officer	$314,266	$43,822	$358,088
JOHN A RICH	DIRECTOR OF FACILITIES	40.00	Highest	$150,853	$29,194	$180,047
TARA SCOTT	DIRECTOR GUEST SERVICES	40.00	Highest	$153,263	$27,349	$180,612
ROBERT N METCALFE - FORMER	DIRECTOR OF SECURITY & HR	0.00		$147,023	$12,232	$159,255

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	$1,972,963	$3,904,575	$54,988,528	$-1,931,612
2023	$46,006,451	$4,731,561	$57,403,004	$41,274,890
2022	$6,588,397	$5,787,509	$14,551,827	$800,888
2021	$3,782,137	$4,695,798	$14,258,695	$-913,661
2020	$5,615,547	$5,887,856	$14,409,470	$-272,309
2019	$7,890,847	$6,803,166	$14,927,920	$1,087,681
2018	$7,957,090	$7,123,610	$14,298,362	$833,480