RIVERTOWN HOUSING DEVELOPMENT FUND CO INC (EIN 222767974) - 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

1986

Legal Domicile

Principal Officer

PAUL SALVINO

Phone

5189451751

Tax Period

2024-01-01 to 2024-12-31

RIVERTOWN HOUSING DEVELOPMENT FUND CO INC, founded in 1986, is a small nonprofit in the Housing & Shelter sector that reported $410K in total revenue in fiscal year 2024. Expenses of $485K exceeded revenue, resulting in a 18% operating deficit.

Mission

LOW-INCOME SENIOR HOUSING - TO OWN, OPERATE, AND MANAGE SENIOR CITIZEN APARTMENT PROJECTS UNDER FMHA GUIDELINES - 52 UNITS.

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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 $188,793

Program Service Revenue $163,073

Investment Income $265

Other Revenue $58,075

TOTAL REVENUE $410,206

Expense Breakdown

Grants Paid $0

Salaries & Benefits $101,765

Fundraising Expenses $0

Program Expenses $393,995

Other Expenses $383,089

TOTAL EXPENSES $484,854

Year-over-Year Comparison

	2024	2023	Change
Revenue	$410,206	$392,094	+0.0%
Expenses	$484,854	$452,819	+0.1%
Net Income	$-74,648	$-60,725	+0.2%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ED BLOOMER	TRUSTEE/DIRE	1.00	Director	$0	$0	$0
TAMI BONE	TRUSTEE/DIRE	1.00	Director	$0	$0	$0
MARY BRANDOW	TREASURER	1.00	Director	$0	$0	$0
RICHARD GOLDEN	VICE PRESIDE	1.00	Director	$0	$0	$0
BARBARA IRACI	SECRETARY	1.00	Officer Director	$0	$0	$0
PAUL SALVINO	PRESIDENT	1.00	Officer Director	$0	$0	$0

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	$410,206	$484,854	$1,868,427	$-74,648
2023	$392,094	$452,819	$1,763,264	$-60,725
2022	$378,983	$431,686	$1,646,525	$-52,703
2021	$365,894	$413,182	$1,070,706	$-47,288
2020	$376,862	$408,450	$1,017,388	$-31,588
2019	$405,526	$408,465	$1,069,155	$-2,939
2018	$393,642	$428,165	$1,095,781	$-34,523

RIVERTOWN HOUSING DEVELOPMENT FUND CO INC