SCOTIA COMMITTEE HOUSING DEVELOPME… - 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

1994

Legal Domicile

Principal Officer

EDWARD PINKERTON

Phone

5183747407

Tax Period

2024-12-01 to 2025-11-30

SCOTIA COMMITTEE HOUSING DEVELOPMENT FUND CO INC, founded in 1994, is a community nonprofit that reported $1.3M in total revenue in fiscal year 2024. Revenue grew 9% year-over-year, indicating healthy expansion. The organization ran a surplus of $226K, a strong 17% operating margin.

Mission

SCOTIA COMMITTEE HOUSING DEVELOPMENT FUND CO, INC. WAS ORGANIZED AND INCORPORATED UNDER THE NEW YORK STATE PRIVATE HOUSING FINANCE LAW. IN 1994, THE FUND ACQUIRED A 96 UNIT AFFORDABLE SENIOR HOUSING PROJECT IN SCOTIA, NEW YORK. THE PROJECT RECEIVES (CONTINUED ON SCHEDULE O) (CONTINUED FROM FORM 990, PART III, LINE 1) HOUSING ASSISTANCE (HAP) PAYMENTS (OR RENTAL SUBSIDIES) PURSUENT TO SECTION 8 OF THE U.S. HOUSING ACT OF 1937, AS AMENDED. THE FUND HAS ENTERED INTO A HAP AGREEMENT WITH THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD). UNDER THIS CONTRACT, WHICH WILL BE SUBJECT TO RENEGOTIATION IN JUNE 2025, THE FUND RECEIVES HUD FUNDED RENT SUBSIDIES TO ACCOMMODATE SENIOR CITIZENS AGE 62 AND OLDER AND/OR THE DISABLED.

Program Service Accomplishments

Program 1

Expenses: $914,858 Revenue: $1,162,138

THE FUND'S PRIMARY PROGRAM SERVICE IS TO PROVIDE HUD SUBSIDIZED/LOW INCOME HOUSING TO QUALIFIED TENANTS. IN 2015, THE FUND COMMENCED A MULTI-YEAR REHABILITATION PROJECT UNDER WHICH APPROXIMATELY $3.5 MILLION WILL BE COMMITTED TO THE COMPLETE REHABILITATION OF THE FUND'S HOUSING PROJECT IN SCOTIA. THIS PROJECT WILL INCLUDE THE REHABILITATION OF EACH APARTMENT, THE VARIOUS COMMON AREAS, AND THE REPLACEMENT OF THE BUILDING ELEVATORS. IT IS PROJECTED THAT APPROXIMATELY $300,000 WILL BE EXPENDED IN EACH OF THE NEXT THREE YEARS, WITH THE COMPLETION OF THE PROJECT IN 2028.

Program 2

Expenses: $36,250

FROM TIME TO TIME, THE FUND MAY GRANT MONIES TO OTHER EXEMPT ORGANIZATIONS WHICH SHARE A COMMON MISSION OF SUPPORTING SENIOR HOUSING, MEALS FOR THOSE LIVING IN LOW INCOME HOUSING, AND OTHER PURPOSES WHICH MIGHT BE OTHERWISE ALIGNED WITH THE FUND'S MISSION. IN THE CURRENT FISCAL YEAR, THE FUND PROVIDED GRANTS TO THREE EXEMPT ORGANIZATIONS IN THE TOTAL AMOUNT OF $36,250. THESE GRANTS ARE REPORTED UNDER PAGE 10, PART IX, LINE 1, WITH MORE DETAILED INFORMATION REPORTED UNDER SCHEDULE I, PART II OF THIS FORM 990.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $1,162,138

Investment Income $140,082

Other Revenue $0

TOTAL REVENUE $1,302,220

Expense Breakdown

Grants Paid $36,250

Salaries & Benefits $299,714

Fundraising Expenses $0

Program Expenses $951,108

Other Expenses $739,971

TOTAL EXPENSES $1,075,935

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,302,220	$1,196,766	+0.1%
Expenses	$1,075,935	$1,053,068	+0.0%
Net Income	$226,285	$143,698	+0.6%

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

$3,025

Total Directors

$4,575

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RICHARD COLUCCIELLO	TREASURER	5.00	Officer Director	$675	$0	$675
NANCY SHULTZ	DIRECTOR	2.00	Director	$425	$0	$425
CHRISTINE BISSONETTE	SECRETARY	5.00	Officer Director	$950	$0	$950
EDWARD PINKERTON	PRESIDENT	5.00	Officer Director	$700	$0	$700
HARLAN BARNEY	DIRECTOR	2.00	Director	$225	$0	$225
MARY BETH BUTCH	DIRECTOR	2.00	Director	$75	$0	$75
LOUIS GIAMMATTEO	DIRECTOR	2.00	Director	$150	$0	$150
RHONDA KRUTZ	DIRECTOR	2.00	Director	$225	$0	$225
TODD LAVERY	DIRECTOR	2.00	Director	$150	$0	$150
RONALD PINKERTON	DIRECTOR	2.00	Director	$225	$0	$225
SID RAMOTAR	DIRECTOR	2.00	Director	$75	$0	$75
SHARON MACNEIL	VICE-PRESIDENT	5.00	Officer Director	$700	$0	$700

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	$1,302,220	$1,075,935	$6,636,294	$226,285
2024	$1,196,766	$1,053,068	$6,403,446	$143,698
2023	$1,158,064	$995,514	$6,329,825	$162,550
2022	$1,022,068	$936,897	$6,073,222	$85,171
2021	$1,015,600	$974,118	$6,046,028	$41,482
2020	$978,770	$827,893	$6,007,394	$150,877
2018	$930,021	$664,413	$5,685,683	$265,608

SCOTIA COMMITTEE HOUSING DEVELOPMENT FUND CO INC