EMPIRE HOUSING AND DEVELOPMENT CORP (EIN 161462012) - 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

1995

Legal Domicile

Phone

3154257775

Tax Period

2024-01-01 to 2024-12-31

EMPIRE HOUSING AND DEVELOPMENT CORP, founded in 1995, is a small nonprofit in the Housing & Shelter sector that reported $601K in total revenue in fiscal year 2024. Revenue surged 89% from the prior year, signaling strong growth momentum. The organization ran a surplus of $187K, a strong 31% operating margin.

Mission

PROVIDE COMMUNITY REVITALIZATION EFFORTS AND HOUSING FOR LOW INCOME TENANTS AND HOME BUYERS IN URBAN AREAS.

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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 $102,698

Program Service Revenue $229,876

Investment Income $259,408

Other Revenue $9,384

TOTAL REVENUE $601,366

Expense Breakdown

Grants Paid $0

Salaries & Benefits $272,979

Fundraising Expenses $0

Program Expenses $232,719

Other Expenses $141,199

TOTAL EXPENSES $414,178

Year-over-Year Comparison

	2024	2023	Change
Revenue	$601,366	$319,017	+0.9%
Expenses	$414,178	$420,208	0.0%
Net Income	$187,188	$-101,191	-2.8%

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

$223,630

Total Directors

$223,630

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
VINCENT SPINA	PRESIDENT	1.00	Officer Director	$0	$0	$0
JAMES SPENCER	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
JULIE NELSON	SECRETARY	1.00	Officer Director	$0	$0	$0
JOSEPH RUSSO	DIRECTOR	1.00	Director	$0	$0	$0
SHELDON ASHKIN	DIRECTOR	1.00	Director	$0	$0	$0
JENNINE LOMBARDI	DIRECTOR	1.00	Director	$0	$0	$0
TESS SCHAUFLER	DIRECTOR	1.00	Director	$0	$0	$0
RICHARD DRISCOLL	DIRECTOR	1.00	Director	$0	$0	$0
WILLIAM DEMARLE	CO-EXECUTIVE DIRECTOR	40.00	Officer Director	$104,500	$7,315	$111,815
ROBERT SEKOWSKI	CO-EXECUTIVE DIRECTOR	40.00	Officer Director	$104,500	$7,315	$111,815
DEVORN KINSEY	DIRECTOR	1.00	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	$601,366	$414,178	$545,440	$187,188
2023	$319,017	$420,208	$382,515	$-101,191
2022	$301,888	$352,879	$369,324	$-50,991
2021	$346,117	$348,559	$474,792	$-2,442
2020	$353,734	$370,053	$491,107	$-16,319
2019	$237,047	$350,924	$442,205	$-113,877
2018	$640,035	$357,999	$395,863	$282,036

EMPIRE HOUSING AND DEVELOPMENT CORP