Niagara Falls Neighborhood Housing… - 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

1979

Legal Domicile

Principal Officer

Clay Simmons

Phone

7162857778

Tax Period

2023-01-01 to 2023-12-31

Niagara Falls Neighborhood Housing Service Inc, founded in 1979, is a small nonprofit that reported $433K in total revenue in fiscal year 2023. Revenue fell 66% from the prior year — a significant decline worth monitoring. Expenses of $881K exceeded revenue, resulting in a 103% operating deficit.

Mission

To aid in the preservation and stabilization of economic and aesthetic conditions in commercial and residential communities within a designated area of the city of Niagara Falls.

Program Service Accomplishments

Program 1

Expenses: $161,461 Revenue: $3,168

Home Ownership Services - The Organization provides pre-purchase education for potential homebuyers. One-on-one credit and budget counseling are provided to assist in the journey to homeownership...

Home Ownership Services - The Organization provides pre-purchase education for potential homebuyers. One-on-one credit and budget counseling are provided to assist in the journey to homeownership. This includes the education, lending, and counseling components of the Organization's programs.This program is also supported by $80,727 of Government Grants.

Program 2

Expenses: $114,927

Residential Rehab - This program provides rehabilitation grants to customers who meet program eligibility requirements. Staff acts as a liaison between the customer and the contractor; assisting with the outline of home improvement needs, selecting a contractor, and monitoring progress throughout the project.This program is supported by $25,303 of Government Grants.

Program 3

Expenses: $468,023 Revenue: $194,740

Property Management - This program oversees the operation, control, and oversight of various properties and rental units. Management ensures both fiscal and property condition are continually...

Property Management - This program oversees the operation, control, and oversight of various properties and rental units. Management ensures both fiscal and property condition are continually maintained and monitored. This program is also supported by $12,446 of Government Grants.

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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 $183,483

Program Service Revenue $197,658

Investment Income $50,573

Other Revenue $1,273

TOTAL REVENUE $432,987

Expense Breakdown

Grants Paid $17,500

Salaries & Benefits $335,302

Fundraising Expenses $0

Program Expenses $770,352

Other Expenses $528,191

TOTAL EXPENSES $880,993

Year-over-Year Comparison

	2023	2022	Change
Revenue	$432,987	$1,256,698	-0.7%
Expenses	$880,993	$1,611,909	-0.5%
Net Income	$-448,006	$-355,211	+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

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

$413,598

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Christine Sanborn	President	0.30	Officer Director	$0	$0	$0
David Nardozzi	Member	0.30	Director	$0	$0	$0
Carmen Presti	Finance Secretary	0.30	Officer Director	$0	$0	$0
Lola McCreary	Secretary	0.30	Officer Director	$0	$0	$0
Stephen Dojka	Member	0.30	Director	$0	$0	$0
Mike Hooper	Member	0.30	Director	$0	$0	$0
Elaine Schroeder	Member	0.30	Director	$0	$0	$0
Diane Tattersall	Member	0.30	Director	$0	$0	$0
Andrew Constantino	Member	0.30	Director	$0	$0	$0
Laura Pennington	Member	0.30	Director	$0	$0	$0
Kathleen Steinman	Director of Homeownership	34.00	Officer	$60,006	$7,499	$89,768
Jerome Nagy - Chief	Executive Officer (Through 1/23)	0.30	Officer	$0	$779	$18,977
Adriana Eastlack	Director of Finance	0.30	Officer	$0	$7,500	$95,845
Kelley Swann	Chief Operating Officer/Interim CEO (2/23 - 7/23)	0.30	Officer	$0	$7,500	$137,471
Clarence Simmons - Chief	Executive Officer (Beginning 7/23)	0.30	Officer	$0	$3,461	$71,537

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	$432,987	$880,993	$1,783,302	$-448,006
2022	$1,256,698	$1,611,909	$1,838,212	$-355,211
2021	$1,818,977	$1,938,412	$3,221,959	$-119,435
2020	$2,819,984	$2,829,899	$2,107,693	$-9,915
2019	$4,470,014	$4,251,706	$2,713,905	$218,308
2018	$6,018,501	$5,546,824	$5,360,015	$471,677

Niagara Falls Neighborhood Housing Service Inc