PARKWAY ELDERLY HOUSING DEVELOPMEN… - 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

1973

Legal Domicile

Principal Officer

FREDERICK MALONEY

Phone

6079375361

Tax Period

2024-10-01 to 2025-09-30

PARKWAY ELDERLY HOUSING DEVELOPMENT FUND CO INC, founded in 1973, is a community nonprofit in the Housing & Shelter sector that reported $2.1M in total revenue in fiscal year 2024. Expenses of $1.8M left a modest 14% surplus.

Mission

TO PROVIDE AFFORDABLE HOUSING TO THE ELDERLY AND QUALIFIED HANDICAPPED INDIVIDUALS.

Program Service Accomplishments

Program 1

Expenses: $951,070 Revenue: $1,169,654

DAYSPRING I IS A ONE HUNDRED TEN UNIT APARTMENT COMPLEX LOCATED IN CORNING, NEW YORK, ESTABLISHED TO PROVIDE DECENT, SANITARY HOUSING FOR ELDERLY AND QUALIFIED DISABLED RESIDENTS. IT IS FEDERALLY...

DAYSPRING I IS A ONE HUNDRED TEN UNIT APARTMENT COMPLEX LOCATED IN CORNING, NEW YORK, ESTABLISHED TO PROVIDE DECENT, SANITARY HOUSING FOR ELDERLY AND QUALIFIED DISABLED RESIDENTS. IT IS FEDERALLY SUBSIDIZED BY THE INSURANCE OF ITS MORTGAGE LOAN UNDER SECTION 231 OF THE FEDERAL HOUSING ACT, AND AN INTEREST SUBSIDY FROM HUD. IT IS ALSO SUBJECT TO SECTION 8 HOUSING ASSISTANCE PAYMENT AGREEMENTS AND A SIGNIFICANT PORTION OF THE RENTAL REVENUE IS RECEIVED FROM HUD.

Program 2

Expenses: $719,995 Revenue: $803,861

DAYSPRING II IS A ONE HUNDRED EIGHT UNIT APARTMENT COMPLEX LOCATED IN CORNING, NEW YORK, ESTABLISHED TO PROVIDE DECENT, SANITARY HOUSING FOR ELDERLY HANDICAPPED OR DISABLED RESIDENTS. IT IS A...

DAYSPRING II IS A ONE HUNDRED EIGHT UNIT APARTMENT COMPLEX LOCATED IN CORNING, NEW YORK, ESTABLISHED TO PROVIDE DECENT, SANITARY HOUSING FOR ELDERLY HANDICAPPED OR DISABLED RESIDENTS. IT IS A FEDERALLY SUBSIDIZED SECTION 515 PROJECT WITH A RURAL RENTAL ASSISTANCE PROGRAM UNDER THE SUPERVISION OF THE RURAL ECONOMIC AND COMMUNITY DEVELOPMENT, A DIVISION OF USDA.

Program 3

Expenses: $61,552

SERVICE COORDINATOR PROVIDING ASSISTANCE TO THE ELDERLY AND DISABLED RESIDENTS WITH SELECTING AND COMMUNICATING SUPPORTIVE AND MEDICAL SERVICES IN THE COMMUNITY SO THEY MAY CONTINUE LIVING...

SERVICE COORDINATOR PROVIDING ASSISTANCE TO THE ELDERLY AND DISABLED RESIDENTS WITH SELECTING AND COMMUNICATING SUPPORTIVE AND MEDICAL SERVICES IN THE COMMUNITY SO THEY MAY CONTINUE LIVING INDEPENDENTLY.

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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 (2024)

Revenue Breakdown

Contributions & Grants $89,665

Program Service Revenue $1,973,515

Investment Income $38,885

Other Revenue $0

TOTAL REVENUE $2,102,065

Expense Breakdown

Grants Paid $0

Salaries & Benefits $381,852

Fundraising Expenses $0

Program Expenses $1,732,617

Other Expenses $1,429,580

TOTAL EXPENSES $1,811,432

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,102,065	$1,949,381	+0.1%
Expenses	$1,811,432	$1,784,767	+0.0%
Net Income	$290,633	$164,614	+0.8%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
FREDERICK MALONEY	PRESIDENT	4.00	Officer Director	$0	$0	$0
CHRISTOPHER DESSO	VICE PRESIDENT	4.00	Officer Director	$0	$0	$0
BLAKE MANUEL	SECRETARY	4.00	Officer Director	$0	$0	$0
ROBERT AVVAMPATO	TREASURER	4.00	Officer Director	$0	$0	$0
BARRY NICHOLSON	DIRECTOR	2.00	Director	$0	$0	$0
JOANN CAYLYLE	DIRECTOR	2.00	Director	$0	$0	$0
CHRISTINA LOSEY	DIRECTOR	2.00	Director	$0	$0	$0
STEPHEN CASTNERS	DIRECTOR	2.00	Director	$0	$0	$0
BRITTEN HOYLE	DIRECTOR	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
2025	$2,102,065	$1,811,432	$3,233,091	$290,633
2024	$1,949,381	$1,784,767	$3,021,164	$164,614
2023	$1,849,611	$1,579,563	$3,028,112	$270,048
2022	$1,772,243	$1,600,696	$2,818,437	$171,547
2021	$1,628,608	$1,572,025	$2,705,260	$56,583
2020	$1,605,070	$1,552,881	$2,712,085	$52,189
2019	$1,564,173	$1,532,930	$2,732,783	$31,243
2018	$1,535,966	$1,541,392	$2,836,153	$-5,426

PARKWAY ELDERLY HOUSING DEVELOPMENT FUND CO INC