PENWAL AFFORDABLE HOUSING CORPORATION

EIN: 223124101 501(c)(3) Housing & Shelter

RIDGEWOOD, NJ

Total Revenue
$1,005,355
Total Expenses
$307,757
Total Assets
$17,616,827
Net Assets
$17,599,826
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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

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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%)

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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

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Governance

Voting Members
3
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
0
$0
Total Directors
3
$0
Key Employees
0
$0
Highest Compensated
0
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
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