WOONSOCKET NEIGHBORHOOD DEVELOPMENT CORPORATION (EIN 222907602) - 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

1987

Legal Domicile

Principal Officer

JOSEPH GARLICK

Phone

4017620993

Tax Period

2024-01-01 to 2024-12-31

WOONSOCKET NEIGHBORHOOD DEVELOPMENT CORPORATION, founded in 1987, is a community nonprofit in the Housing & Shelter sector that reported $3.5M in total revenue in fiscal year 2024. Revenue surged 32% from the prior year, signaling strong growth momentum. Expenses of $3.0M left a modest 13% surplus.

Mission

NEIGHBORWORKS BLACKSTONE RIVER VALLEY (NWBRV) IS A NONPROFIT COMMUNITY DEVELOPMENT CORPORATION THAT WORKS WITH RESIDENTS, BUSINESSES, NEIGHBORHOOD INSTITUTIONS, PARTNERS AND COMMUNITIES TO ENRICH NEIGHBORHOOD LIFE AND MAKE AFFORDABLE HOUSING OPPORTUNITIES AVAILABLE THROUGHOUT THE BLACKSTONE RIVER VALLEY.

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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 $1,192,589

Program Service Revenue $1,119,930

Investment Income $921,212

Other Revenue $247,910

TOTAL REVENUE $3,481,641

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,239,585

Fundraising Expenses $3,137

Program Expenses $2,674,906

Other Expenses $788,390

TOTAL EXPENSES $3,027,975

Year-over-Year Comparison

	2024	2023	Change
Revenue	$3,481,641	$2,634,991	+0.3%
Expenses	$3,027,975	$5,260,655	-0.4%
Net Income	$453,666	$-2,625,664	-1.2%

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

172

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

$156,842

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RICHARD KYTE JR	PRESIDENT	1.50	Officer Director	$0	$0	$0
NANCY GIAMBUSSO	VICE PRESIDENT	1.50	Officer Director	$0	$0	$0
PAUL M DUMOUCHEL	TREASURER	1.50	Officer Director	$0	$0	$0
EMMA DANDY	SECRETARY	1.50	Officer Director	$0	$0	$0
MICHAEL SKELDON	DIRECTOR	1.50	Director	$0	$0	$0
NANCY BENOIT	DIRECTOR	1.50	Director	$0	$0	$0
NANCY PARADEE	DIRECTOR	1.50	Director	$0	$0	$0
RANDALL SACILOTTO	DIRECTOR	1.50	Director	$0	$0	$0
AMBREA ALLEN	DIRECTOR	1.50	Director	$0	$0	$0
BARBARA DECHRISTOFARO	DIRECTOR	1.50	Director	$0	$0	$0
GEORGE COSTA	DIRECTOR	1.50	Director	$0	$0	$0
MADELINE SILVA	DIRECTOR	1.50	Director	$0	$0	$0
GABRIELLE PRESCOTT	DIRECTOR	1.50	Director	$0	$0	$0
DERRICK D PEEPLES SR	DIRECTOR	1.50	Director	$0	$0	$0
PAM WILLIAMS	DIRECTOR	1.50	Director	$0	$0	$0
WILLIAM BARR	DIRECTOR	1.50	Director	$0	$0	$0
CAROLL CHATTMAN	DIRECTOR	1.50	Director	$0	$0	$0
JOSEPH GARLICK	EXECUTIVE DIRECTOR	40.00	Officer	$118,060	$38,782	$156,842
BILL LEWIS	DIRECTOR OF REAL ESTATE	40.00	Highest	$102,462	$8,097	$110,559

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	$3,481,641	$3,027,975	$26,513,123	$453,666
2023	$2,634,991	$5,260,655	$23,595,419	$-2,625,664
2022	$3,749,387	$3,304,469	$27,502,471	$444,918
2021	$2,965,788	$2,781,543	$24,639,643	$184,245
2020	$3,212,949	$2,709,688	$24,150,927	$503,261
2019	$2,538,278	$2,568,807	$22,953,712	$-30,529
2018	$3,628,583	$2,603,833	$23,133,851	$1,024,750

WOONSOCKET NEIGHBORHOOD DEVELOPMENT CORPORATION