HUDSON DEVELOPMENT CORPORATION (EIN 141589002) - 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

1976

Legal Domicile

Principal Officer

PHIL FORMAN

Phone

5187511044

Tax Period

2024-01-01 to 2024-12-31

HUDSON DEVELOPMENT CORPORATION, founded in 1976, is a small nonprofit in the Community Improvement sector that reported $133K in total revenue in fiscal year 2024. Revenue grew 13% year-over-year, indicating healthy expansion. Expenses of $251K exceeded revenue, resulting in a 89% operating deficit.

Mission

TO RELIEVE AND REDUCE ADULT UNEMPLOYMENT, BETTER AND MAINTAIN JOB OPPORTUNITIES, AND PROMOTE TRAINING OF INDIVIDUALS TO IMPROVE/DEVELOP THEIR CAPABILITIES FOR EMPLOYMENT.

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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 (2024)

Revenue Breakdown

Contributions & Grants $30,553

Program Service Revenue $0

Investment Income $101,976

Other Revenue $0

TOTAL REVENUE $132,529

Expense Breakdown

Grants Paid $23,463

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $29,231

Other Expenses $227,538

TOTAL EXPENSES $251,001

Year-over-Year Comparison

	2024	2023	Change
Revenue	$132,529	$117,479	+0.1%
Expenses	$251,001	$162,496	+0.5%
Net Income	$-118,472	$-45,017	+1.6%

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

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHRISTINE JONES	PRESIDENT	3.00	Officer Director	$0	$0	$0
NICK HADDAD	VICE PRESIDENT	3.00	Officer Director	$0	$0	$0
PHIL FORMAN	TREASURER	3.00	Officer Director	$0	$0	$0
PAUL BARRETT	SECRETARY	3.00	Officer Director	$0	$0	$0
MARSHA LANE	DIRECTOR	1.00	Director	$0	$0	$0
SETH ROGOVOY	DIRECTOR	1.00	Director	$0	$0	$0
KRISTAN KECK	DIRECTOR	1.00	Director	$0	$0	$0
KAMAL JOHNSON	DIRECTOR, EX OFFICIO	1.00	Director	$0	$0	$0
TOM DEPIETRO	DIRECTOR, EX OFFICIO	1.00	Director	$0	$0	$0
JOHN FRIEDMAN	DIRECTOR	1.00	Director	$0	$0	$0
PAUL COLARUSSO	DIRECTOR	1.00	Director	$0	$0	$0
BRITT ZUCKERMAN	DIRECTOR	1.00	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	$132,529	$251,001	$2,967,889	$-118,472
2023	$117,479	$162,496	$3,092,432	$-45,017
2022	$2,110,550	$107,838	$3,126,943	$2,002,712
2021	$240,974	$201,476	$1,474,158	$39,498
2020	$106,537	$108,513	$1,134,075	$-1,976
2019	$16,132	$112,242	$1,133,140	$-96,110
2018	$10,152	$96,012	$1,034,572	$-85,860

HUDSON DEVELOPMENT CORPORATION