TROY REDEVELOPMENT FOUNDATION INC

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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

1994

Legal Domicile

Principal Officer

Christopher Ames

Phone

5182766175

Tax Period

2023-01-01 to 2023-12-31

TROY REDEVELOPMENT FOUNDATION INC, founded in 1994, is a small nonprofit in the Community Improvement sector that reported $437K in total revenue in fiscal year 2023. Revenue fell 30% from the prior year — a significant decline worth monitoring. Expenses of $1.1M exceeded revenue, resulting in a 145% operating deficit.

Mission

TO ENABLE NOT-FOR-PROFIT INSTITUTIONS LOCATED IN THE CITY OF TROY TO FINANCIALLY ASSIST AND OTHERWISE ASSIST THE CITY OF TROY; TO FOSTER ECONOMIC DEVELOPMENT AND TO ASSIST THE CITY OF TROY IN SOLVING URBAN PROBLEMS; AND, TO PROVIDE THE CITY OF TROY FUNDS TO BE USED TO ENHANCE ECONOMIC DEVELOPMENT AND FORMULATE EDUCATIONAL PROGRAMS WHICH WILL HELP ASSURE THE CITY'S ECONOMIC RESURGENCE.

Program Service Accomplishments

Program 1

Expenses: $1,067,200

PROVIDED ECONOMIC SUPPORT AND ASSISTED WITH ENHANCING THE CITY OF TROY, NEW YORK AND ITS SURROUNDS.

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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 $437,238

Program Service Revenue $0

Investment Income $141

Other Revenue $0

TOTAL REVENUE $437,379

Expense Breakdown

Grants Paid $1,067,200

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $1,067,200

Other Expenses $3,227

TOTAL EXPENSES $1,070,427

Year-over-Year Comparison

	2023	2022	Change
Revenue	$437,379	$622,369	-0.3%
Expenses	$1,070,427	$559,542	+0.9%
Net Income	$-633,048	$62,827	-11.1%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARTIN A SCHMIDT	Treasurer	2.00	Officer Director	$0	$0	$0
Jenny Rao	Board Member	2.00	Director	$0	$0	$0
Christopher Ames	President	2.00	Officer Director	$0	$0	$0
Lori Santos	Vice President	2.00	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	$437,379	$1,070,427	$178,031	$-633,048
2022	$622,369	$559,542	$811,079	$62,827
2021	$450,601	$321,798	$748,252	$128,803
2020	$451,154	$618,879	$619,449	$-167,725