WALNUT HOUSING DEVELOPMENT CORPORATION (EIN 223864570) - 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

2002

Legal Domicile

Principal Officer

THOMAS AK QUEENAN

Phone

2155578484

Tax Period

2022-07-01 to 2023-06-30

WALNUT HOUSING DEVELOPMENT CORPORATION, founded in 2002, is a micro nonprofit in the Housing & Shelter sector that reported $85K in total revenue in fiscal year 2022. Expenses of $167K exceeded revenue, resulting in a 96% operating deficit.

Mission

ORGANIZED TO ACQUIRE, REHABILITATE, CONSTRUCT, OWN AND OPERATE AFFORDABLE HOUSING PROJECT IN PHILADELPHIA FOR THE PURPOSES OF PROVIDING LOW INCOME, SAFE, AFFORDABLE AND PERMANENT HOUSING FOR THE DISABLED AS MAY BE IDENTIFIED BY FEDERAL, STATE OR COUNTY OFFICIALS.

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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 (2022)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $78,453

Investment Income $69

Other Revenue $6,691

TOTAL REVENUE $85,213

Expense Breakdown

Grants Paid $0

Salaries & Benefits $29,887

Fundraising Expenses $0

Program Expenses $157,801

Other Expenses $137,213

TOTAL EXPENSES $167,100

Year-over-Year Comparison

	2022	2021	Change
Revenue	$85,213	$88,249	0.0%
Expenses	$167,100	$155,169	+0.1%
Net Income	$-81,887	$-66,920	+0.2%

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

N/A

Volunteers

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

$830,585

Total Directors

Key Employees

$431,763

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL DAVIDSON ESQ	CHAIR	0.30	Officer Director	$0	$0	$0
RUSSEL JOHNSON	VICE CHAIR	0.30	Officer Director	$0	$0	$0
MARK DUFFY	TREASURER	0.30	Officer Director	$0	$0	$0
MICHAEL SIMMONS	SECRETARY	0.30	Officer Director	$0	$0	$0
HARRY G DITTMANN	BOARD MEMBER	0.30	Director	$0	$0	$0
JAMES KILCOYNE	BOARD MEMBER	1.00	Director	$0	$0	$0
MARVA WILLIAMS	BOARD MEMBER	0.30	Director	$0	$0	$0
ROBERT H KWAIT	ASSISTANT SECRETARY, VP	1.00	Officer	$0	$28,619	$223,212
MARK DEITCHER	ASSISTANT TREASURER, VP	1.00	Officer	$0	$28,271	$226,472
CHIP DARLING	VICE PRESIDENT & COO	1.00	Officer	$0	$28,017	$210,516
THOMAS AK QUEENAN	PRESIDENT & CEO SINCE JUNE 2022	1.00	Officer	$0	$759	$170,385
SUSAN MCPHEDREN	DIRECTOR OF DEVELOPMENT - PHILADELPHIA	0.00	Key Emp	$0	$24,148	$187,360
SARAH CONSTANT	SENIOR VP, REAL ESTATE DEVELOPMENT	0.00	Key Emp	$0	$26,635	$244,403
CHARISE WALKER	DIRECTOR OF COMPLIANCE	0.00	Highest	$0	$25,772	$158,093
PATRICK SNOKE	DIRECTOR OF CONSTRUCTION	0.00	Highest	$0	$13,787	$147,927
SUSAN MCMICHAEL	DIRECTOR OF INFORMATION SYSTEMS	0.00	Highest	$0	$25,499	$146,639
MICHON CONNELL	VICE PRESIDENT OF ACCOUNTING AND REPORTING	0.00	Highest	$0	$13,640	$141,914
ELIZABETH EVERHART	SENIOR DEVELOPMENT MANAGER	0.00	Highest	$0	$4,473	$152,327

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
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$85,213	$167,100	$864,865	$-81,887
2022	$88,249	$155,169	$892,563	$-66,920
2021	$91,430	$132,118	$940,612	$-40,688
2020	$321,527	$117,858	$963,443	$203,669
2019	$103,309	$119,428	$748,305	$-16,119
2018	$73,694	$127,166	$739,127	$-53,472

WALNUT HOUSING DEVELOPMENT CORPORATION