HORSEHEADS HOUSING DEV FUND CO DBA FAIRPORT TERRACE APARTMENTS (EIN 161308547) - 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

1992

Legal Domicile

Principal Officer

MICHAEL STENPECK

Phone

6077390656

Tax Period

2024-01-01 to 2024-12-31

HORSEHEADS HOUSING DEV FUND CO DBA FAIRPORT TERRACE APARTMENTS, founded in 1992, is a small nonprofit that reported $256K in total revenue in fiscal year 2024.

Mission

TO PROVIDE AFFORDABLE HOUSING TO ELDERLY PERSONS WITH LOW INCOME

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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 $148,338

Program Service Revenue $105,221

Investment Income $0

Other Revenue $2,552

TOTAL REVENUE $256,111

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $192,861

Other Expenses $262,496

TOTAL EXPENSES $262,496

Year-over-Year Comparison

	2024	2023	Change
Revenue	$256,111	$245,299	+0.0%
Expenses	$262,496	$239,374	+0.1%
Net Income	$-6,385	$5,925	-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
MICHAEL STENPECK	VICE PRESIDENT	10.00	Officer Director	$0	$0	$0
SCOTT BARBER	SECRETARY/TREASURER	10.00	Officer Director	$0	$0	$0
TOM SMETANKA	MEMBER	1.00	Director	$0	$0	$0
CARL GOSS	MEMBER	1.00	Director	$0	$0	$0
MICHAEL EDWARDS	MEMBER	1.00	Director	$0	$0	$0
JUDI DRISCOLL	MEMBER	1.00	Director	$0	$0	$0
STEPHEN WILBUR	MEMBER	1.00	Director	$0	$0	$0
DAVE HELSING	MEMBER	4.00	Director	$0	$0	$0
TOM SKEBEY	MEMBER	4.00	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	$256,111	$262,496	$353,377	$-6,385
2023	$245,299	$239,374	$377,757	$5,925
2022	$236,295	$242,972	$395,171	$-6,677
2021	$228,613	$219,258	$416,923	$9,355
2020	$232,100	$223,165	$424,281	$8,935
2019	$230,918	$220,489	$430,590	$10,429
2018	$226,704	$227,576	$433,848	$-872

HORSEHEADS HOUSING DEV FUND CO DBA FAIRPORT TERRACE APARTMENTS