PROJECT HOME COMMUNITY DEVELOPMENT CORPORATION

EIN: 232895377 501(c)(3) Community Improvement

PHILADELPHIA, PA

Total Revenue
$1,269,632
Total Expenses
$1,983,337
Total Assets
$4,036,456
Net Assets
$-6,770,146
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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
1997
Legal Domicile
PA
Principal Officer
KEVIN NOEL
Phone
2152327272
Tax Period
2024-01-01 to 2024-12-31

PROJECT HOME COMMUNITY DEVELOPMENT CORPORATION, founded in 1997, is a community nonprofit in the Community Improvement sector that reported $1.3M in total revenue in fiscal year 2024. Revenue grew 9% year-over-year, indicating healthy expansion. Expenses of $2.0M exceeded revenue, resulting in a 56% operating deficit.

Mission

TO PROVIDE AFFORDABLE HOUSING FOR LOW-INCOME INDIVIDUALS AND FAMILIES IN PHILADELPHIA, PA. THE CORPORATION ACQUIRES, REHABILITATES AND SELLS PROPERTIES TO QUALIFYING INDIVIDUALS AND OPERATES 112 AFFORDABLE HOUSING UNITS AND COMMERCIAL SPACE.

Program Service Accomplishments

Program 1
Expenses: $1,264,715

OPERATION OF AFFORDABLE HOUSING UNITS RENTED TO LOW-INCOME INDIVIDUALS AND COMMERCIAL SPACE TO NON-PROFIT ORGANIZATIONS.

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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 (2024)

Revenue Breakdown

Contributions & Grants $738,842
Program Service Revenue $484,901
Investment Income $27,465
Other Revenue $18,424
TOTAL REVENUE $1,269,632

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $1,264,715
Other Expenses $1,983,337
TOTAL EXPENSES $1,983,337

Year-over-Year Comparison

2024 2023 Change
Revenue $1,269,632 $1,166,788 +0.1%
Expenses $1,983,337 $1,910,385 +0.0%
Net Income $-713,705 $-743,597 0.0%
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
5
Independent Members
3
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
3
$389,740
Total Directors
6
$389,740
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
S MARY SCULLION FORMER PRESIDENT 2.00
$0 $63,996 $406,385
DONNA BULLOCK PRESIDENT 2.00
Officer Director
$0 $0 $125,398
KEVIN NOEL TREASURER 2.00
Officer Director
$0 $33,305 $264,342
JIM PATERNO SECRETARY 0.00
Officer Director
$0 $0 $0
MIKE BREEN DIRECTOR 0.00
Director
$0 $0 $0
DAN HIRST DIRECTOR 0.00
Director
$0 $0 $0
PROPERTY MANAGER DIRECTOR 10.00
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
2024 $1,269,632 $1,983,337 $4,036,456 $-713,705
2023 $1,166,788 $1,910,385 $4,293,872 $-743,597
2022 $1,079,683 $1,889,088 $4,530,187 $-809,405
2021 $1,082,662 $1,821,919 $4,812,959 $-739,257
2020 $15,641,825 $23,481,856 $5,113,055 $-7,840,031
2019 $1,468,652 $1,841,773 $12,549,611 $-373,121
2018 $1,479,418 $1,751,783 $12,730,035 $-272,365
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