HANCOCK PLACE APARTMENTS HOUSING DEVELOPMENT FUND CORPORATION (EIN 203610425) - 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

2005

Legal Domicile

Principal Officer

ADAM WEINSTEIN

Phone

2122439090

Tax Period

2023-01-01 to 2023-12-31

HANCOCK PLACE APARTMENTS HOUSING DEVELOPMENT FUND CORPORATION, founded in 2005, is a small nonprofit in the Housing & Shelter sector that reported $576K in total revenue in fiscal year 2023. Revenue surged 71% from the prior year, signaling strong growth momentum. Expenses of $1.0M exceeded revenue, resulting in a 76% operating deficit.

Mission

HANCOCK APARTMENTS HOUSING DEVELOPMENT FUND CORPORATION WAS FORMED TO DEVELOP, OWN AND OPERATE A HOUSING PROJECT FOR LOW-INCOME INDIVIDUALS AND FAMILIES.

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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 $0

Program Service Revenue $561,835

Investment Income $4,588

Other Revenue $9,103

TOTAL REVENUE $575,526

Expense Breakdown

Grants Paid $0

Salaries & Benefits $154,117

Fundraising Expenses $0

Program Expenses $924,674

Other Expenses $857,321

TOTAL EXPENSES $1,011,438

Year-over-Year Comparison

	2023	2022	Change
Revenue	$575,526	$337,278	+0.7%
Expenses	$1,011,438	$590,290	+0.7%
Net Income	$-435,912	$-253,012	+0.7%

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

N/A

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

$2,541,726

Total Directors

$1,757,428

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ADAM WEINSTEIN	PRESIDENT/CEO	1.00	Officer Director	$0	$172,076	$990,213
JAMES ROBERT PIGOTT JR	VICE PRESIDENT AND SECRETA	1.00	Officer Director	$0	$79,704	$430,091
LUKEMAN OGUNYINKA	TREASURER	1.00	Officer Director	$0	$62,804	$337,124
MATTHEW KELLY	VICE PRESIDENT	1.00	Officer	$0	$73,253	$423,493
MICHAEL WADMAN	VICE PRESIDENT	1.00	Officer	$0	$58,015	$360,805

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	No data	No data	No data	No data
2023	$575,526	$1,011,438	$5,079,690	$-435,912
2022	$337,278	$590,290	$5,444,881	$-253,012

HANCOCK PLACE APARTMENTS HOUSING DEVELOPMENT FUND CORPORATION