PARK RIDGE HOUSING DEVELOPMENT FUND INC (EIN 222608311) - 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

1984

Legal Domicile

Principal Officer

DR RICHARD DAVIS

Phone

5859221595

Tax Period

2023-01-01 to 2023-12-31

PARK RIDGE HOUSING DEVELOPMENT FUND INC, founded in 1984, is a small nonprofit that reported $602K in total revenue in fiscal year 2023. Expenses of $523K left a modest 13% surplus.

Mission

PARK RIDGE HOUSING DEVELOPMENT FUND, INC IS A LOW INCOME HOUSING PROJECT FOR ELDERLY PERSONS CONSISTING OF 50 ONE BEDROOM APARTMENTS PURSUANT TO SECTION 236 OF THE NATIONAL HOUSING ACT.

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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 $34,893

Program Service Revenue $552,159

Investment Income $2,570

Other Revenue $12,104

TOTAL REVENUE $601,726

Expense Breakdown

Grants Paid $0

Salaries & Benefits $89,009

Fundraising Expenses $0

Program Expenses $440,993

Other Expenses $433,732

TOTAL EXPENSES $522,741

Year-over-Year Comparison

	2023	2022	Change
Revenue	$601,726	$576,354	+0.0%
Expenses	$522,741	$564,742	-0.1%
Net Income	$78,985	$11,612	+5.8%

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

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

$8,132,704

Total Directors

$3,137,090

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAVID RIEDMAN	CHAIR OF THE BOARD	1.00	Officer Director	$0	$0	$0
ANNA LYNCH	VICE CHAIR	1.00	Officer Director	$0	$0	$0
ROBERT S SANDS	SECRETARY	1.00	Officer Director	$0	$0	$0
EFRAIN RIVERA	TREASURER	1.00	Officer Director	$0	$0	$0
RICHARD DAVIS PHD	CEO	0.00	Officer Director	$0	$54,881	$3,137,090
JUSTIN SMITH	SECRETARY	1.00	Officer Director	$0	$0	$0
THOMAS CRILLY	CFO	0.00	Officer	$0	$154,601	$1,579,020
HUGH THOMAS	CAO	0.00	Officer	$0	$9,101	$1,739,491
CHRISTIAN CASINI	ASSISTANT SECRETARY	0.00	Officer	$0	$34,153	$371,721
JENNIFER ESLINGER	COO	0.00	Officer	$0	$11,368	$1,305,382

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	$601,726	$522,741	$1,079,002	$78,985
2022	$576,354	$564,742	$919,964	$11,612
2021	$567,289	$476,155	$967,271	$91,134
2020	$493,597	$479,920	$809,706	$13,677
2019	$497,274	$466,501	$821,193	$30,773
2018	$478,985	$438,859	$814,755	$40,126

PARK RIDGE HOUSING DEVELOPMENT FUND INC