FAIR HOUSING DEVELOPMENT FUND CORP

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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

1970

Legal Domicile

Principal Officer

REV ALFRED EVANS

Phone

5166714326

Tax Period

2022-06-01 to 2023-05-31

FAIR HOUSING DEVELOPMENT FUND CORP, founded in 1970, is a small nonprofit that reported $726K in total revenue in fiscal year 2022. Expenses of $848K exceeded revenue, resulting in a 17% operating deficit.

Mission

TO PROVIDE AFFORDABLE HOUSING FOR ELIGIBLE TENANTS.

Program Service Accomplishments

Program 1

Expenses: $717,037 Revenue: $721,803

ON A NOT-FOR-PROFIT BASIS, THE ORGANIZATION OWNS AND OPERATES A SECTION 236 HUD FINANCED MULTIFAMILY HOUSING PROJECT. THE PROJECT CONSISTS OF 54 UNITS OF AFFORDABLE RENTAL HOUSING FOR PERSONS OF...

ON A NOT-FOR-PROFIT BASIS, THE ORGANIZATION OWNS AND OPERATES A SECTION 236 HUD FINANCED MULTIFAMILY HOUSING PROJECT. THE PROJECT CONSISTS OF 54 UNITS OF AFFORDABLE RENTAL HOUSING FOR PERSONS OF LIMITED MEANS IN GLEN COVE, NEW YORK.

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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 $717,964

Investment Income $3,865

Other Revenue $3,839

TOTAL REVENUE $725,668

Expense Breakdown

Grants Paid $0

Salaries & Benefits $81,853

Fundraising Expenses $0

Program Expenses $717,037

Other Expenses $765,725

TOTAL EXPENSES $847,578

Year-over-Year Comparison

	2022	2021	Change
Revenue	$725,668	$721,335	+0.0%
Expenses	$847,578	$729,504	+0.2%
Net Income	$-121,910	$-8,169	+13.9%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BRUCE MCCURTY	PRESIDENT	5.00	Officer Director	$0	$0	$0
REV ALFRED EVANS	BOARD MEMBER	2.00	Director	$0	$0	$0
DANIELLE WILLIS	BOARD MEMBER	2.00	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
2023	$725,668	$847,578	$1,199,889	$-121,910
2022	$721,335	$729,504	$1,303,259	$-8,169
2021	$736,549	$802,248	$1,355,896	$-65,699
2020	$743,022	$746,609	$1,427,654	$-3,587
2018	$707,793	$730,943	$1,537,660	$-23,150