RIVERSIDE DEVELOPMENT CORPORATION (EIN 237320953) - 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

1972

Legal Domicile

Principal Officer

MICHAEL MORIARTY

Phone

4135337102

Tax Period

2021-10-01 to 2022-09-30

RIVERSIDE DEVELOPMENT CORPORATION, founded in 1972, is a small nonprofit that reported $603K in total revenue in fiscal year 2021. Revenue fell 35% from the prior year — a significant decline worth monitoring. Expenses of $528K left a modest 12% surplus.

Mission

TO FURTHER ECONOMIC DEVELOPMENT IN THE CITY OF HOLYOKE, MASSACHUSETTS AND ITS ENVIRONS.

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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 (2021)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $602,608

Investment Income $92

Other Revenue $0

TOTAL REVENUE $602,700

Expense Breakdown

Grants Paid $0

Salaries & Benefits $388,704

Fundraising Expenses $0

Program Expenses $423,211

Other Expenses $139,550

TOTAL EXPENSES $528,254

Year-over-Year Comparison

	2021	2020	Change
Revenue	$602,700	$934,368	-0.4%
Expenses	$528,254	$796,406	-0.3%
Net Income	$74,446	$137,962	-0.5%

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

$106,377

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
WALTER NALESNIK	CHAIRMAN	1.00	Officer Director	$0	$0	$0
DUANE CAMP	TREASURER	1.00	Officer Director	$0	$0	$0
ARMANDO SANTIAGO	CO-CHAIR	1.00	Officer Director	$0	$0	$0
MAURICE LACASSE	DIRECTOR	1.00	Director	$0	$0	$0
MARIA PAGAN	DIRECTOR	1.00	Director	$0	$0	$0
JOHN LENIHAN	DIRECTOR	1.00	Director	$0	$0	$0
ERIC MATTOS	DIRECTOR	1.00	Director	$0	$0	$0
VICTOR RODRIGUEZ	CLERK	1.00	Officer Director	$0	$0	$0
IVIE CORDERO	DIRECTOR	1.00	Director	$0	$0	$0
LINDA PRATT	DIRECTOR	1.00	Director	$0	$0	$0
DEBORAH WALKER	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL MORIARTY	PRESIDENT	10.00	Officer	$10,556	$22,988	$106,377

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
2022	$602,700	$528,254	No data	$74,446
2021	$934,368	$796,406	$510,036	$137,962
2020	$711,884	$629,479	$374,177	$82,405
2019	$485,365	$575,161	$108,503	$-89,796
2018	$483,069	$539,844	$221,118	$-56,775

RIVERSIDE DEVELOPMENT CORPORATION