PENWAL AFFORDABLE HOUSING CORPORAT… - 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

1991

Principal Officer

LAURY PENSA

Phone

2018364500

Tax Period

2023-01-01 to 2023-12-31

PENWAL AFFORDABLE HOUSING CORPORATION, founded in 1991, is a community nonprofit in the Housing & Shelter sector that reported $1.0M in total revenue in fiscal year 2023. The organization ran a surplus of $698K, a strong 69% operating margin.

Mission

THE FINANCING AND MONITORING OF QUALIFIED LOW INCOME HOUSING PROJECTS

Program Service Accomplishments

Program 1

IMPLEMTATION AND DEVELOPED LOW INCOME HOUSING PROJECTS IN DUMONT, GARFIELD, JERSEY CITY, PARAMUS AND DOVER NEW JERSEY

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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 $0

Program Service Revenue $0

Investment Income $-35

Other Revenue $1,005,390

TOTAL REVENUE $1,005,355

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $167,600

Other Expenses $307,757

TOTAL EXPENSES $307,757

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,005,355	$963,898	+0.0%
Expenses	$307,757	$309	+995.0%
Net Income	$697,598	$963,589	-0.3%

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

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
WILLIAM COLTHART	TRUSTEE	N/A	Director	$0	$0	$0
LAURY PENSA	MANAGER	N/A	Director	$0	$0	$0
JAMES WALSH	TRUSTEE	N/A	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
2023	$1,005,355	$307,757	$17,616,827	$697,598
2022	$963,998	$309	$17,234,370	$963,689
2021	$916,325	$633,414	$16,167,400	$282,911
2020	$788,575	$35,121	$16,305,348	$753,454
2019	$753,285	$19,045	$15,541,487	$734,240
2018	$756,608	$6,849	$14,804,847	$749,759

PENWAL AFFORDABLE HOUSING CORPORATION