KEYSTONE HOUSING DEVELOPMENT CORPORATION (EIN 223864577) - 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

KEYSTONE HOUSING DEVELOPMENT CORPORATION, founded in 2002, is a micro nonprofit in the Housing & Shelter sector that reported $66K in total revenue in fiscal year 2022. Expenses of $122K exceeded revenue, resulting in a 84% 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 $66,280

Investment Income $36

Other Revenue $100

TOTAL REVENUE $66,416

Expense Breakdown

Grants Paid $0

Salaries & Benefits $22,780

Fundraising Expenses $0

Program Expenses $113,053

Other Expenses $99,552

TOTAL EXPENSES $122,332

Year-over-Year Comparison

	2022	2021	Change
Revenue	$66,416	$67,892	0.0%
Expenses	$122,332	$118,724	+0.0%
Net Income	$-55,916	$-50,832	+0.1%

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

$431,764

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	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	$26,636	$244,404
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	$152,328

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	$66,416	$122,332	$501,966	$-55,916
2022	$67,892	$118,724	$533,884	$-50,832
2021	$62,488	$109,247	$549,416	$-46,759
2020	$65,582	$90,574	$562,301	$-24,992
2019	$67,702	$112,178	$579,524	$-44,476
2018	$63,861	$112,844	$620,459	$-48,983

KEYSTONE HOUSING DEVELOPMENT CORPORATION