RIVERCREST DEVELOPMENT CORPORATION (EIN 141815076) - 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

2000

Legal Domicile

Principal Officer

DAMARIS CARBONE

Phone

5188422894

Tax Period

2023-01-01 to 2023-12-31

RIVERCREST DEVELOPMENT CORPORATION, founded in 2000, is a small nonprofit in the Housing & Shelter sector that reported $420K in total revenue in fiscal year 2023. Revenue surged 27% from the prior year, signaling strong growth momentum. The organization ran a surplus of $128K, a strong 30% operating margin.

Mission

TO PROVIDE SERVICES TO THE POOR, DISTRESSED AND UNDERPRIVILEGED LOW-INCOME FAMILIES AND INDIVIDUALS BY DEVELOPING, ACQUIRING, CONSTRUCTING, RENOVATING, OPERATING, MAINTAINING, AND IMPROVING RENTAL HOUSING AND FACILITATING HOME OWNERSHIP OPPORTUNITIES.

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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 $156,720

Program Service Revenue $263,492

Investment Income $153

Other Revenue $0

TOTAL REVENUE $420,365

Expense Breakdown

Grants Paid $0

Salaries & Benefits $45,076

Fundraising Expenses $0

Program Expenses $237,938

Other Expenses $247,551

TOTAL EXPENSES $292,627

Year-over-Year Comparison

	2023	2022	Change
Revenue	$420,365	$331,675	+0.3%
Expenses	$292,627	$445,150	-0.3%
Net Income	$127,738	$-113,475	-2.1%

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
DAMARIS CARBONE	EXECUTIVE DIRECT	0.30	Officer Director	$0	$0	$0
COLLEEN MCHEARD	CHAIR	0.30	Officer Director	$0	$0	$0
PAUL SALERNO	VICE-CHAIR	0.30	Officer Director	$0	$0	$0
DIANE MADEJ	SECRETARY	0.30	Officer Director	$0	$0	$0
RICHARD DIMATTEO	TREASURER	0.30	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	$420,365	$292,627	$2,554,635	$127,738
2022	$331,675	$445,150	$2,923,406	$-113,475
2021	$481,579	$250,065	$2,434,988	$231,514
2020	$487,045	$257,998	$2,237,318	$229,047
2019	$339,193	$265,491	$2,030,024	$73,702
2018	$409,780	$199,299	$2,121,186	$210,481

RIVERCREST DEVELOPMENT CORPORATION