HOUSING WORKS 220 HULL HOUSING DEV… - 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

2012

Legal Domicile

Principal Officer

CHARLES KING

Phone

3474737400

Tax Period

2022-07-01 to 2023-06-30

HOUSING WORKS 220 HULL HOUSING DEVELOPMENT FUND CORPORATION, founded in 2012, is a micro nonprofit in the Housing & Shelter sector that reported $37K in total revenue in fiscal year 2022. Revenue surged 80% from the prior year, signaling strong growth momentum. Expenses of $320K exceeded revenue, resulting in a 759% operating deficit.

Mission

DEVELOP VACANT LAND INTO A SUPPORTIVE HOUSING RESIDENCE FOR HOUSING WORKS' OVERALL CLIENT POPULATION: VERY LOW-INCOME RESIDENTS WITH HISTORIES OF HOMELESSNESS, MENTAL ILLNESS, AND/OR CHEMICAL DEPENDENCE.

Program Service Accomplishments

Program 1

Expenses: $319,690 Revenue: $37,220

ON THE 6,000 SQUARE FOOT LOT AT 220 HULL ST. IN BROOKLYN, HOUSING WORKS DEVELOPED A FOUR-STORY, 26-UNIT PERMANENT SUPPORTIVE HOUSING FACILITY FOR HOMELESS SINGLE ADULTS WITH AIDS. IN ADDITION TO...

ON THE 6,000 SQUARE FOOT LOT AT 220 HULL ST. IN BROOKLYN, HOUSING WORKS DEVELOPED A FOUR-STORY, 26-UNIT PERMANENT SUPPORTIVE HOUSING FACILITY FOR HOMELESS SINGLE ADULTS WITH AIDS. IN ADDITION TO SAFE, STABLE HOUSING, RESIDENTS HAVE ACCESS TO EMPOWERMENT ACTIVITIES. SUPPORTIVE SERVICES AVAILABLE TO ALL RESIDENTS ON OR OFF SITE THROUGH HOUSING WORKS INCLUDES CASE MANAGEMENT, INDEPENDENT LIVING SKILLS TRAINING, HEALTH CARE, MENTAL HEALTH CARE, HARM REDUCTION SERVICES, AND ELIGIBILITY TO ENROLL IN THE HOUSING WORKS JOB TRAINING PROGRAM.

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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 $0

Program Service Revenue $37,220

Investment Income $0

Other Revenue $0

TOTAL REVENUE $37,220

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $319,690

Other Expenses $319,690

TOTAL EXPENSES $319,690

Year-over-Year Comparison

	2022	2021	Change
Revenue	$37,220	$20,635	+0.8%
Expenses	$319,690	$237,728	+0.3%
Net Income	$-282,470	$-217,093	+0.3%

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

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

$1,034,665

Total Directors

$756,007

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ANDREW COAMEY	SECRETARY	1.00	Officer Director	$0	$27,348	$282,964
CHARLES KING	CHAIR	1.00	Officer Director	$0	$16,962	$473,043
EARL WARD ESQ	VICE-CHAIR	1.00	Officer Director	$0	$0	$0
JOLANTA ILCZUK	CHIEF FINANCIAL OFFICER	1.00	Officer	$0	$5,416	$278,658

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	$37,220	$319,690	$8,967,216	$-282,470
2022	$20,635	$237,728	$9,272,543	$-217,093
2021	No data	$95,745	$9,264,136	No data
2020	$203	$55,610	$8,938,036	$-55,407
2019	$17,822	$2,084	$7,650,544	$15,738
2018	$8,700	$822,040	$3,870,800	$-813,340

HOUSING WORKS 220 HULL HOUSING DEVELOPMENT FUND CORPORATION