SPRC INC

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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

1973

Legal Domicile

Principal Officer

GARY BROWN

Phone

7184928580

Tax Period

2023-01-01 to 2023-12-31

SPRC INC, founded in 1973, is a community nonprofit in the Housing & Shelter sector that reported $4.2M in total revenue in fiscal year 2023. Revenue decreased 13% compared to the prior year. Expenses of $4.0M left a modest 4% surplus.

Mission

SUNSET PARK REDEVELOPMENT COMMITTEE ASSISTS WITH THE REDEVELOPMENT, RENEWAL, AND IMPROVEMENT OF SUNSET PARK AND OTHER AREAS OF KINGS COUNTY, ALL TO COMBAT COMMUNITY DETERIORATION AND TO SECURE ADEQUATE HOUSING AND CONDITIONS.

Program Service Accomplishments

Program 1

Expenses: $3,304,469 Revenue: $648,510

WEATHERIZATION - CONTRACTS WITH THE STATE OF NEW YORK TO PROVIDE WEATHERIZATION SERVICES TO LOW-INCOME HOME OWNERS AND TENANTS IN BROOKLYN. SPRC PRIORITIZES OUTREACH TO THE ELDERLY, DISABLED AND...

WEATHERIZATION - CONTRACTS WITH THE STATE OF NEW YORK TO PROVIDE WEATHERIZATION SERVICES TO LOW-INCOME HOME OWNERS AND TENANTS IN BROOKLYN. SPRC PRIORITIZES OUTREACH TO THE ELDERLY, DISABLED AND FAMILIES WITH CHILDREN TO PROVIDE THE MOST COST EFFECTIVE ENERGY AND WATER CONSERVATION MEASURES AS DETERMINED BY AN ONSITE ENERGY AUDIT OF THE BUILDING.

Program 2

Expenses: $396,469 Revenue: $449,466

LOW-INCOME HOUSING - CONTRACTS WITH THE STATE OF NEW YORK AND PRIVATE ORGANIZATIONS TO PROVIDE HOME REPAIR SERVICES AND HOUSING TO LOW- AND MODERATE-INCOME HOME OWNERS AND TENANTS.

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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 $3,056,087

Program Service Revenue $1,097,976

Investment Income $35,425

Other Revenue $604

TOTAL REVENUE $4,190,092

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,388,253

Fundraising Expenses $0

Program Expenses $3,700,938

Other Expenses $2,617,690

TOTAL EXPENSES $4,005,943

Year-over-Year Comparison

	2023	2022	Change
Revenue	$4,190,092	$4,802,190	-0.1%
Expenses	$4,005,943	$5,560,110	-0.3%
Net Income	$184,149	$-757,920	-1.2%

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

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

$152,710

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ALDO LEMMA	CHAIRPERSON	1.00	Officer Director	$0	$0	$0
GLENN SORENSON	TREASURER	1.00	Officer Director	$0	$0	$0
SAYEL TAYAR	SECRETARY	1.00	Officer Director	$0	$0	$0
GIACOMO RUTIGLIANO	DIRECTOR	1.00	Director	$0	$0	$0
GLORIA NOVA	DIRECTOR	1.00	Director	$0	$0	$0
MARGARETTE CASHIN	DIRECTOR	1.00	Director	$0	$0	$0
VINCENT MISSERI	DIRECTOR	1.00	Director	$0	$0	$0
XIOMARA GARCIA	DIRECTOR	1.00	Director	$0	$0	$0
ROBERT MOLINARI	DIRECTOR	1.00	Director	$0	$0	$0
GARY BROWN	PRESIDENT/EXECUTIVE DIRECTOR	40.00	Officer	$131,514	$21,196	$152,710

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	No data	No data	No data	No data
2023	$4,190,092	$4,005,943	$4,108,306	$184,149
2022	$4,802,190	$5,560,110	$3,930,717	$-757,920
2021	$4,456,465	$3,806,127	$3,911,006	$650,338
2020	$3,978,131	$3,528,523	$4,136,797	$449,608
2019	$3,323,489	$3,416,557	$2,552,506	$-93,068
2018	$2,920,983	$2,933,034	$2,243,966	$-12,051