JACK KENNY MEMORIAL HOUSING DEV FUND CORP (EIN 141557905) - Form 990 Financial Analysis & Trantor Score

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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

1972

Legal Domicile

Principal Officer

MELANIE RIBEIRO

Phone

9548359200

Tax Period

2023-01-01 to 2023-12-31

JACK KENNY MEMORIAL HOUSING DEV FUND CORP, founded in 1972, is a community nonprofit that reported $2.8M in total revenue in fiscal year 2023. Revenue surged 267% from the prior year, signaling strong growth momentum. The organization ran a surplus of $532K, a strong 19% operating margin.

Mission

OPERATION OF LOW INCOME HOUSING FOR THE ELDERLY AND HANDICAPPED, REGULATED AND ASSISTED BY THE DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD).

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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 $781,898

Investment Income $2,017,156

Other Revenue $2,759

TOTAL REVENUE $2,801,813

Expense Breakdown

Grants Paid $0

Salaries & Benefits $239,009

Fundraising Expenses $0

Program Expenses $1,602,800

Other Expenses $2,030,767

TOTAL EXPENSES $2,269,776

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,801,813	$764,279	+2.7%
Expenses	$2,269,776	$830,880	+1.7%
Net Income	$532,037	$-66,601	-9.0%

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

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

$532,389

Total Directors

$532,389

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MELANIE RIBEIRO	DIRECTOR / V	0.70	Officer Director	$424,921	$107,468	$532,389
MARIA C CORDONE	SECRETARY	0.30	Officer Director	$0	$0	$0
TONY FRANSETTA	DIRECTOR	0.10	Director	$0	$0	$0
JOSEPH GIFFI	DIRECTOR	0.10	Director	$0	$0	$0
WILLIAM HOLAYTER	DIRECTOR	0.10	Director	$0	$0	$0
EDWARD ROMERO	DIRECTOR	0.10	Director	$0	$0	$0
ERICA SCHMELZER	TREASURER	0.40	Officer Director	$0	$0	$0
CHRISTOPHER M SHELTON	PRESIDENT	0.50	Officer Director	$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	$2,801,813	$2,269,776	$195,270	$532,037
2023	$2,801,813	$2,269,776	$195,270	$532,037
2022	$764,279	$830,880	$1,691,146	$-66,601
2021	$702,044	$722,451	$1,765,477	$-20,407
2020	$654,796	$653,074	$1,817,398	$1,722
2019	$507,124	$559,528	$1,070,885	$-52,404
2018	$479,518	$536,785	$350,262	$-57,267

JACK KENNY MEMORIAL HOUSING DEV FUND CORP