1260 HOUSING DEVELOPMENT CORPORATI… - 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

1988

Legal Domicile

Principal Officer

THOMAS AK QUEENAN

Phone

2155778414

Tax Period

2023-07-01 to 2024-06-30

1260 HOUSING DEVELOPMENT CORPORATION, founded in 1988, is a mid-sized nonprofit in the Housing & Shelter sector that reported $19.8M in total revenue in fiscal year 2023. Revenue surged 26% from the prior year, signaling strong growth momentum. The organization ran a surplus of $3.5M, a strong 17% operating margin.

Mission

1260 HOUSING DEVELOPMENT CORPORATION IS A NOT-FOR-PROFIT CORPORATION ESTABLISHED FOR THE PURPOSE OF DEVELOPING, ACQUIRING, FINANCING, AND MANAGING LOW-INCOME PERMANENT HOUSING FOR INDIVIDUALS WITH BEHAVIORAL HEALTH ISSUES, AS WELL AS INDIVIDUALS IN NEED OF TRANSITIONAL AND EMERGENCY HOUSING IN THE CITY OF PHILADELPHIA, PENNSYLVANIA.

Program Service Accomplishments

Program 1

Expenses: $13,796,507 Revenue: $17,165,433

AFFORDABLE HOUSING PROGRAM: PROGRAM PROVIDES HOUSING TO LOW INCOME INDIVIDUALS INCLUDING VULNERABLE POPULATIONS, PHYSICALLY AND MENTALLY DISABLED IN THE CITY OF PHILADELPHIA.

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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 $188

Program Service Revenue $16,911,249

Investment Income $2,599,855

Other Revenue $254,184

TOTAL REVENUE $19,765,476

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $13,796,507

Other Expenses $16,311,468

TOTAL EXPENSES $16,311,468

Year-over-Year Comparison

	2023	2022	Change
Revenue	$19,765,476	$15,658,972	+0.3%
Expenses	$16,311,468	$16,034,802	+0.0%
Net Income	$3,454,008	$-375,830	-10.2%

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

$1,003,462

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
THOMAS AK QUEENAN	PRESIDENT & CEO	1.00	Officer	$318,971	$10,118	$329,089
ROBERT H KWAIT	ASSISTANT SECRETARY, VP	1.00	Officer	$213,447	$28,837	$242,284
MARK DEITCHER	ASSISTANT TREASURER, VP	1.00	Officer	$193,577	$28,390	$221,967
CHIP DARLING	VICE PRESIDENT & COO	1.00	Officer	$182,087	$28,035	$210,122

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	$19,765,476	$16,311,468	$83,915,544	$3,454,008
2023	$15,658,972	$16,034,802	$83,745,840	$-375,830
2022	$16,943,789	$16,383,534	$77,316,707	$560,255
2021	$16,577,131	$15,918,854	$75,955,661	$658,277
2020	$14,204,821	$15,518,496	$67,593,380	$-1,313,675
2019	$14,927,032	$15,599,559	$72,872,127	$-672,527
2018	$13,519,495	$15,080,061	$69,944,177	$-1,560,566

1260 HOUSING DEVELOPMENT CORPORATION