EMPIRE HOUSING AND DEVELOPMENT CORP

EIN: 161462012 501(c)(3) Housing & Shelter

SYRACUSE, NY

Total Revenue
$601,366
Total Expenses
$414,178
Total Assets
$545,440
Net Assets
$76,557
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1995
Legal Domicile
NY
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

THE ORGANIZATION UNDERTAKES AND ASSISTS IN COMMUNITY REVITALIZATION EFFORTS THAT INCLUDE THE DEVELOPMENT OF AFFORDABLE HOMEOWNERSHIP AND RENTAL HOUSING FOR LOW AND MODERATE INCOME HOUSEHOLDS IN COMMUNITIES THROUGHOUT NEW YORK STATE.

Program Service Accomplishments

Program 1
Expenses: $232,719 Revenue: $498,668

THE ORGANIZATION SECURES GRANTS AND LOAN FUNDS THAT ARE USED TO ASSIST INCOME ELIGIBLE HOMEBUYERS IN MAKING IMPROVEMENTS TO HOMES THEY PURCHASE AS WELL AS DEVELOPS AFFORDABLE HOUSING FOR INCOME...

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THE ORGANIZATION SECURES GRANTS AND LOAN FUNDS THAT ARE USED TO ASSIST INCOME ELIGIBLE HOMEBUYERS IN MAKING IMPROVEMENTS TO HOMES THEY PURCHASE AS WELL AS DEVELOPS AFFORDABLE HOUSING FOR INCOME ELIGIBLE HOMEBUYERS AND RENTERS. PROJECTS IMPROVE THE PHYSICAL CONDITION OF NEIGHBORHOODS AND REVITALIZE DISTRESSED COMMUNITIES.

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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%)

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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

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Liquidity & Cash Position

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Governance

Voting Members
9
Independent Members
9
Employees
3
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
5
$223,630
Total Directors
11
$223,630
Key Employees
0
$0
Highest Compensated
0
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
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