STEGER HOUSING DEVELOPMENT FUND CO… - Form 990 Financial Data

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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

1993

Legal Domicile

Principal Officer

STEVEN SPOTO

Phone

3154241821

Tax Period

2023-10-01 to 2024-09-30

STEGER HOUSING DEVELOPMENT FUND COMPANY PROJECT NO 014-EE057, founded in 1993, is a small nonprofit that reported $411K in total revenue in fiscal year 2023.

Mission

THE ORGANIZATION WAS ORGANIZED SOLELY AND SPECIFICALLY TO DEVELOP, OWN AND OPERATE A LOW-INCOME HOUSING PROJECT ON A NON-PROFIT BASIS PURSUANT TO SECTION 202 OF THE NATIONAL HOUSING ACT, SAID PROJECT KNOWN AS ST. JUDE LOCATED IN ROCHESTER, NEW YORK.

Program Service Accomplishments

Program 1

Expenses: $199,940 Revenue: $251,166

CORPORATION WAS FORMED PURSUANT TO ARTICLE XI OF THE PRIVATE HOUSING FINANCE LAW OF NYS, EXCLUSIVELY TO OWN AND OPERATE A HOUSING PROJECT FOR THE ELDERLY AND LOW INCOME HANDICAPPED. THE 55-UNIT...

CORPORATION WAS FORMED PURSUANT TO ARTICLE XI OF THE PRIVATE HOUSING FINANCE LAW OF NYS, EXCLUSIVELY TO OWN AND OPERATE A HOUSING PROJECT FOR THE ELDERLY AND LOW INCOME HANDICAPPED. THE 55-UNIT PROJECT WAS FULLY RENTED FOR ITS ENTIRE FISCAL YEAR TO QUALIFIED PARTICIPANTS UNDER DEPARTMENT OF HUD REGULATIONS

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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 $156,253

Program Service Revenue $251,147

Investment Income $2,579

Other Revenue $1,419

TOTAL REVENUE $411,398

Expense Breakdown

Grants Paid $0

Salaries & Benefits $113,968

Fundraising Expenses $0

Program Expenses $199,940

Other Expenses $309,169

TOTAL EXPENSES $423,137

Year-over-Year Comparison

	2023	2022	Change
Revenue	$411,398	$392,313	+0.0%
Expenses	$423,137	$403,321	+0.0%
Net Income	$-11,739	$-11,008	+0.1%

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	Role	Reportable Comp	Other Comp	Total
STEVEN SPOTO	PRESIDENT	Officer Director	$0	$0	$0
DONALD E KUHMAN	BOARD MEMBER	Director	$0	$0	$0
GARY RIGONI	BOARD MEMBER	Director	$0	$0	$0
WILLIAM A GILLETTE	BOARD MEMBER	Director	$0	$0	$0
GREG WESTBROOK	BOARD MEMBER	Director	$0	$0	$0
JAMES GRAY	BOARD MEMBER	Director	$0	$0	$0
ROCHELLE BRUNSHIDLE	BOARD MEMBER	Director	$0	$0	$0
SHARON PARIS	SECRETARY/TREASURER	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	$411,398	$423,137	$741,272	$-11,739
2023	$392,313	$403,321	$727,369	$-11,008
2022	$392,115	$401,456	$748,732	$-9,341
2021	$385,084	$408,325	$751,895	$-23,241
2020	$387,229	$466,485	$765,115	$-79,256
2019	$382,300	$475,560	$842,962	$-93,260
2018	$378,451	$482,197	$938,486	$-103,746

STEGER HOUSING DEVELOPMENT FUND COMPANY PROJECT NO 014-EE057