HOUSATONIC INDUSTRIAL DEVELOPMENT CORP (EIN 237061237) - 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

1969

Legal Domicile

Principal Officer

LEONARD VOLPE JR

Phone

2037430306

Tax Period

2023-10-01 to 2024-09-30

HOUSATONIC INDUSTRIAL DEVELOPMENT CORP, founded in 1969, is a small nonprofit that reported $127K in total revenue in fiscal year 2023. Revenue fell 28% from the prior year — a significant decline worth monitoring. Expenses of $170K exceeded revenue, resulting in a 34% operating deficit.

Mission

MORTGAGE LOANS TO PROMOTE THE GROWTH OF SMALL BUSINESSES IN ASSOCIATION WITH THE SMALL BUSINESS ADMINISTRATION.

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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 $0

Program Service Revenue $126,904

Investment Income $118

Other Revenue $0

TOTAL REVENUE $127,022

Expense Breakdown

Grants Paid $0

Salaries & Benefits $118,320

Fundraising Expenses $0

Program Expenses $106,390

Other Expenses $51,868

TOTAL EXPENSES $170,188

Year-over-Year Comparison

	2023	2022	Change
Revenue	$127,022	$175,394	-0.3%
Expenses	$170,188	$164,519	+0.0%
Net Income	$-43,166	$10,875	-5.0%

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

Governance

Voting Members

Independent Members

Employees

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

$72,000

Total Directors

$72,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ELIZABETH STOCKER	CHAIRMAN, TREASURER, ASSISTANT SECRETARY	1.00	Officer Director	$0	$0	$0
MICHAEL YAO	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
KEVIN MCMAHON	SECRETARY, ASSISTANT TREASURER	1.00	Officer Director	$0	$0	$0
PJ PRUNTY	DIRECTOR	1.00	Director	$0	$0	$0
JANICE CHRZESCIJANEK	DIRECTOR	1.00	Director	$0	$0	$0
NELSON MERCHAN	DIRECTOR	1.00	Director	$0	$0	$0
LEONARD VOLPE	EXECUTIVE DIRECTOR	40.00	Officer Director	$72,000	$0	$72,000
FRANCIS G PENNAROLA	DIRECTOR	1.00	Director	$0	$0	$0
AUGUSTUS RYER	DIRECTOR	1.00	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	$127,022	$170,188	$151,849	$-43,166
2023	$175,394	$164,519	$194,715	$10,875
2022	$176,305	$163,274	$191,140	$13,031
2021	$173,756	$163,484	$208,085	$10,272
2020	$143,104	$164,808	$157,537	$-21,704
2019	$165,737	$170,339	$183,941	$-4,602

HOUSATONIC INDUSTRIAL DEVELOPMENT CORP