BROADWAY HOUSING DEVELOPMENT FUND CO INC (EIN 222917994) - 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

1998

Legal Domicile

Principal Officer

MIRIAM RACCAH

Phone

2125682030

Tax Period

2024-01-01 to 2024-12-31

BROADWAY HOUSING DEVELOPMENT FUND CO INC, founded in 1998, is a community nonprofit in the Housing & Shelter sector that reported $1.1M in total revenue in fiscal year 2024. Revenue surged 32% from the prior year, signaling strong growth momentum. Expenses of $5.9M exceeded revenue, resulting in a 437% operating deficit.

Mission

TO DEVELOP, OPERATE & MANAGE HOUSING IN NYC FOR HOMELESS & LOW INCOME INDIVIDUALS & FAMILIES.

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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 $398,000

Program Service Revenue $428,966

Investment Income $268,213

Other Revenue $1,052

TOTAL REVENUE $1,096,231

Expense Breakdown

Grants Paid $5,027,958

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $5,816,722

Other Expenses $857,360

TOTAL EXPENSES $5,885,318

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,096,231	$828,752	+0.3%
Expenses	$5,885,318	$1,943,507	+2.0%
Net Income	$-4,789,087	$-1,114,755	+3.3%

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

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

$710,441

Total Directors

$289,078

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHARLENE MELVILLE	PRESIDENT/CHAIR	5.00	Officer Director	$0	$31,386	$289,078
ALAN WEIL	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
DAVID NATHANSON	TREASURER/SECRETARY	5.00	Officer	$0	$39,418	$244,625
JAN PETRIGAN	DIRECTOR OF OPERATIONS	5.00	Officer	$0	$22,874	$176,738

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	$1,096,231	$5,885,318	$26,315,107	$-4,789,087
2023	$828,752	$1,943,507	$32,077,275	$-1,114,755
2022	$848,119	$913,515	$32,880,239	$-65,396
2021	$1,839,643	$703,388	$32,985,315	$1,136,255
2020	$943,437	$891,525	$31,858,530	$51,912
2019	$5,543,729	$1,409,229	$31,731,073	$4,134,500
2018	$2,805,952	$2,663,372	$30,311,908	$142,580
2018	$1,507,746	$1,325,372	$29,836,315	$182,374

BROADWAY HOUSING DEVELOPMENT FUND CO INC