PUTNAM COUNTY HOUSING CORPORATION

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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

1983

Legal Domicile

Principal Officer

RICHARD WEISS

Phone

8452258493

Tax Period

2024-01-01 to 2024-12-31

PUTNAM COUNTY HOUSING CORPORATION, founded in 1983, is a community nonprofit that reported $2.0M in total revenue in fiscal year 2024. Revenue fell 46% from the prior year — a significant decline worth monitoring. Expenses of $1.8M left a modest 11% surplus.

Mission

TO PROVIDE SAFE, DECENT AND AFFORDABLE HOUSING TO PUTNAM COUNTY RESIDENTS.

Program Service Accomplishments

Program 1

Expenses: $1,016,012 Revenue: $912,548

FUNDS FROM VARIOUS GOVERNMENTAL AGENCIES ARE RESTRICTED FOR THE USE OF ADMINISTRATIVE AND PLANNING COSTS, AND DIRECT ASSISTANCE TO RESIDENTS TO MEET PROGRAM ACTIVITIES.

Program 2

Expenses: $643,504 Revenue: $455,996

HUD SECTION 8 ADMINISTRATIVE FEES ARE USED TOWARDS STAFF SALARIES, FRINGE AND ALL COSTS RELATED TO THE IMPLEMENTATION OF THE PROGRAM.

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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 $604,469

Program Service Revenue $1,339,960

Investment Income $4,539

Other Revenue $28,584

TOTAL REVENUE $1,977,552

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,283,240

Fundraising Expenses $0

Program Expenses $1,659,516

Other Expenses $476,393

TOTAL EXPENSES $1,759,633

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,977,552	$3,674,119	-0.5%
Expenses	$1,759,633	$3,119,989	-0.4%
Net Income	$217,919	$554,130	-0.6%

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

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

$194,005

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOEL GREENBERG	PRESIDENT	1.00	Officer Director	$0	$0	$0
EDWARD SCHAFFER	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
WILLIAM HUESTIS	SECRETARY	1.00	Officer Director	$0	$0	$0
RICHARD WEISS	TREASURER	1.00	Officer Director	$0	$0	$0
DEACON JOHN SCARFI	DIRECTOR	1.00	Director	$0	$0	$0
MARGORIE SCHNEIDER	DIRECTOR	1.00	Director	$0	$0	$0
RABBI SARAH FREIDSON	DIRECTOR	1.00	Director	$0	$0	$0
CONSTANCE FAGAN	DIRECTOR	1.00	Director	$0	$0	$0
SAM OLIVERIO	DIRECTOR	1.00	Director	$0	$0	$0
BARBARA SCUCCIMARRA	DIRECTOR	1.00	Director	$0	$0	$0
SUZANNE BROUGHT	EXECUTIVE DIRECTOR	35.00	Officer	$116,074	$12,145	$128,219
ALLYSON HOGAN	C.F.O.	35.00	Officer	$53,435	$12,351	$65,786

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
2025	No data	No data	No data	No data
2024	$1,977,552	$1,759,633	$2,640,494	$217,919
2023	$3,674,119	$3,119,989	$2,081,528	$554,130
2022	$1,852,674	$1,664,893	$1,459,846	$187,781
2021	$1,551,031	$1,432,463	$1,272,896	$118,568
2020	$1,552,876	$1,327,169	$1,178,438	$225,707
2019	$1,570,776	$1,512,712	$981,661	$58,064
2018	$1,545,415	$1,406,003	$1,008,651	$139,412