228 EAST 46TH STREET HOUSING DEVELOPMENT FUND CORPORATION C/O MET COUNCIL (EIN 261264479) - 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

2007

Legal Domicile

Principal Officer

DAVID G GREENFIELD

Phone

2124539500

Tax Period

2023-01-01 to 2023-12-31

228 EAST 46TH STREET HOUSING DEVELOPMENT FUND CORPORATION C/O MET COUNCIL, founded in 2007, is a small nonprofit in the Housing & Shelter sector that reported $248K in total revenue in fiscal year 2023. Expenses of $308K exceeded revenue, resulting in a 24% operating deficit.

Mission

PROVIDE SUBSIDIZED RENTAL HOUSING TO LOW INCOME INDIVIDUALS AND SENIOR CITIZENS

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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 $241,870

Investment Income $1,255

Other Revenue $5,155

TOTAL REVENUE $248,280

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $276,578

Other Expenses $307,912

TOTAL EXPENSES $307,912

Year-over-Year Comparison

	2023	2022	Change
Revenue	$248,280	$253,686	0.0%
Expenses	$307,912	$295,703	+0.0%
Net Income	$-59,632	$-42,017	+0.4%

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

$1,359,859

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOSEPH ALLERHAND	TREASURER	0.10	Officer Director	$0	$0	$0
KEN ECKSTEIN	SECRETARY	0.10	Officer Director	$0	$0	$0
STACEY SCHEINBERG	PRESIDENT	0.10	Officer Director	$0	$0	$0
DAVID GREENFIELD	CEO	0.10	Officer	$0	$60,217	$688,172
ELENA SYTCHEVA	CO-MANAGING DIRECTOR	0.10	Officer	$0	$17,423	$174,472
PHILIP KIBEL	CFO	0.10	Officer	$0	$39,047	$207,386
ROBERT NEWMAN	COO	0.10	Officer	$0	$5,476	$289,829

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	$248,280	$307,912	$2,634,137	$-59,632
2022	$253,686	$295,703	$2,653,581	$-42,017
2022	$253,686	$295,703	$2,653,581	$-42,017
2021	$364,677	$377,830	$2,595,558	$-13,153
2020	$415,879	$393,364	$2,647,843	$22,515
2019	$240,901	$218,513	$2,580,532	$22,388
2018	$237,895	$216,948	$2,574,971	$20,947

228 EAST 46TH STREET HOUSING DEVELOPMENT FUND CORPORATION C/O MET COUNCIL