LACKAWANNA HOUSING DEVELOPMENT CORP

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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

1990

Legal Domicile

Principal Officer

DEVON BLOWERS

Phone

7168235124

Tax Period

2022-07-01 to 2023-06-30

LACKAWANNA HOUSING DEVELOPMENT CORP, founded in 1990, is a small nonprofit in the Housing & Shelter sector that reported $326K in total revenue in fiscal year 2022.

Mission

ASSIST POTENTIAL HOMEOWNERS TO ACQUIRE AND REHABILITATE AFFORDABLE HOMES

Program Service Accomplishments

Program 1

Expenses: $284,507 Revenue: $485,070

1. STATE FUNDED HOME BUYER ACQUISTION PROGRAM FOR LOW INCOME RESIDENCE OF THE CITY OF LACKAWANNA 2. STATE FUNDED HOME IMPROVEMENT PROGRAMS FOR QUALIFIED HOMEOWNERS 3. COUNTY FUNDED FIRST TIME...

1. STATE FUNDED HOME BUYER ACQUISTION PROGRAM FOR LOW INCOME RESIDENCE OF THE CITY OF LACKAWANNA 2. STATE FUNDED HOME IMPROVEMENT PROGRAMS FOR QUALIFIED HOMEOWNERS 3. COUNTY FUNDED FIRST TIME HOMEOWNER PROGRAMS FOR LOW TO MODERATE INCOME RESIDENCE; INCLUDING EDUCATIONAL PROGRAMS AND FINANCIAL ASSISTANCE

Program 2

Expenses: $0 Revenue: $0

DEVELOPER ON A PROJECT TO CONSTRUCT 47 HOMES TO BE RENTED TO DISABLED AND INCOME QUALIFYING INDIVIDUALS IN LACKAWANNA, NY

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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 (2022)

Revenue Breakdown

Contributions & Grants $233,234

Program Service Revenue $70,025

Investment Income $-9,804

Other Revenue $32,239

TOTAL REVENUE $325,694

Expense Breakdown

Grants Paid $0

Salaries & Benefits $78,628

Fundraising Expenses $0

Program Expenses $284,507

Other Expenses $238,142

TOTAL EXPENSES $316,770

Year-over-Year Comparison

	2022	2021	Change
Revenue	$325,694	$326,660	0.0%
Expenses	$316,770	$320,891	0.0%
Net Income	$8,924	$5,769	+0.5%

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

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
Carl Cotroneo	VICE PRESIDENT	5.00	Officer Director	$0	$0	$0
Edward Thomas	VOTING MEMBER	5.00	Director	$0	$0	$0
Dean Otoka	PRESIDENT	5.00	Officer Director	$0	$0	$0
Gerard Herman	Treasurer	5.00	Officer Director	$0	$0	$0
Dena Marvel	Secretary	5.00	Officer Director	$0	$0	$0
Mohammed Ali	VOTING MEMBER	5.00	Director	$0	$0	$0
William Garronski	VOTING MEMBER	5.00	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
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$325,694	$316,770	$1,022,274	$8,924
2022	$326,660	$320,891	$1,002,092	$5,769
2021	$246,534	$260,551	$990,700	$-14,017
2020	$319,260	$337,160	$1,241,520	$-17,900