Providence Housing Development Corporation (EIN 223311544) - 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

1994

Legal Domicile

Principal Officer

Mark Greisberger

Phone

5855299555

Tax Period

2024-01-01 to 2024-12-31

Providence Housing Development Corporation, founded in 1994, is a community nonprofit in the Housing & Shelter sector that reported $7.7M in total revenue in fiscal year 2024. Revenue surged 44% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.6M, a strong 21% operating margin.

Mission

Create affordable housing for low income households.

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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 $3,402,521

Program Service Revenue $3,994,832

Investment Income $109,402

Other Revenue $174,951

TOTAL REVENUE $7,681,706

Expense Breakdown

Grants Paid $2,667,448

Salaries & Benefits $2,174,741

Fundraising Expenses $0

Program Expenses $5,299,694

Other Expenses $1,252,226

TOTAL EXPENSES $6,094,415

Year-over-Year Comparison

	2024	2023	Change
Revenue	$7,681,706	$5,341,666	+0.4%
Expenses	$6,094,415	$5,201,729	+0.2%
Net Income	$1,587,291	$139,937	+10.3%

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

102

Volunteers

140

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

$389,787

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Frederick A Herman	Treasurer	0.40	Officer Director	$0	$0	$0
Daniel Saperstone	Board Member	0.40	Director	$0	$0	$0
Lisa M Passero CPA	Board Member	0.40	Director	$0	$0	$0
Fr Joseph Hart	President	0.40	Officer Director	$0	$0	$0
Ronald W Hughes	Board Member	0.40	Director	$0	$0	$0
Katherine Karl Esq	Board Member	0.40	Director	$0	$0	$0
Karen Dehais	Board Member	0.40	Director	$0	$0	$0
Timothy R Dollinger	Board Member	0.40	Director	$0	$0	$0
Patricia Neal	Board Member	0.40	Director	$0	$0	$0
Nancy J Koons	Board Member	0.40	Director	$0	$0	$0
Steven E Agan Esq	Board Member	0.40	Director	$0	$0	$0
Dorian Leander Hall	Board Member	0.40	Director	$0	$0	$0
Mark Greisberger	Executive Director	35.00	Officer	$66,082	$2,608	$68,690
Daniel Sturgis	Chief Financial Officer	35.00	Officer	$155,168	$5,955	$161,123
Helen Bianchi	Vice President of Property	35.00	Officer	$144,425	$15,549	$159,974

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	$7,681,706	$6,094,415	$14,813,139	$1,587,291
2023	$5,341,666	$5,201,729	$12,409,071	$139,937
2022	$6,919,368	$6,305,971	$12,370,413	$613,397
2021	$9,484,321	$9,675,678	$12,131,024	$-191,357
2020	$5,143,023	$3,732,293	$12,416,007	$1,410,730
2019	$4,420,202	$3,421,705	$11,949,584	$998,497
2018	$4,130,807	$3,395,272	$11,168,054	$735,535

Providence Housing Development Corporation