SILVERCREST SENIOR HOUSING DEVELOPMENT FUND CORPORATION

EIN: 262894911 501(c)(3) Housing & Shelter

BRIARWOOD, NY

Total Revenue
$861,846
Total Expenses
$1,365,999
Total Assets
$13,663,608
Net Assets
$-5,010,098
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Financial Trends

Organization Details

Formation Year
2008
Legal Domicile
NY
Phone
7184804065
Tax Period
2023-01-01 to 2023-12-31

SILVERCREST SENIOR HOUSING DEVELOPMENT FUND CORPORATION, founded in 2008, is a small nonprofit in the Housing & Shelter sector that reported $862K in total revenue in fiscal year 2023. Expenses of $1.4M exceeded revenue, resulting in a 58% operating deficit.

Mission

SILVERCREST SENIOR HOUSING IS PLEDGED TO CONTINUE THE MISSION OF THE SILVERCREST CENTER FOR NURSING AND REHABILITATION. THAT MISSION IS: "GIVING QUALITY TO LIFE".

Program Service Accomplishments

Program 1
Expenses: $1,118,509 Revenue: $840,191

OUR PURPOSE IS TO PROVIDE AFFORDABLE HOUSING FOR THE VERY-LOW INCOME ELDERLY POPULATION THROUGH THE UNITED STATES DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT'S SECTION 202 PROGRAM WHICH OFFERS RENTAL...

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OUR PURPOSE IS TO PROVIDE AFFORDABLE HOUSING FOR THE VERY-LOW INCOME ELDERLY POPULATION THROUGH THE UNITED STATES DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT'S SECTION 202 PROGRAM WHICH OFFERS RENTAL ASSISTANCE FOR SENIORS WHO MEET THE REQUIREMENTS OF THE FEDERAL PROGRAM. WE DO NOT DISCRIMINATE BASED ON RACE, COLOR, RELIGION, SEX, NATIONAL ORIGIN, OR DISABILITY AND COMPLY WITH ALL FEDERAL, STATE AND LOCAL FAIR HOUSING AND CIVIL RIGHTS LAWS AND WITH HUD EQUAL OPPORTUNITY REQUIREMENTS.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $350
Program Service Revenue $840,191
Investment Income $72
Other Revenue $21,233
TOTAL REVENUE $861,846

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $1,118,509
Other Expenses $1,365,999
TOTAL EXPENSES $1,365,999

Year-over-Year Comparison

2023 2022 Change
Revenue $861,846 $819,616 +0.1%
Expenses $1,365,999 $1,343,578 +0.0%
Net Income $-504,153 $-523,962 0.0%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Governance

Voting Members
13
Independent Members
2
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
8
$3,629,093
Total Directors
16
$9,819,051
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
N/A TRUSTEE/CHIEF FINANCIAL OFFICER 1.0
Officer Director
$0 $44,249 $455,519
N/A TRUSTEE/PRESIDENT 10.0
Officer Director
$0 $93,181 $635,275
N/A TRUSTEE/CHAIRMAN (THRU 4/2023) 1.0
Officer Director
$0 $28,980 $267,898
N/A TRUSTEE/PRESIDENT (THRU 9/2023) 10.0
Officer Director
$0 $28,297 $535,244
N/A TRUSTEE/CHAIRMAN 1.0
Officer Director
$0 $79,270 $870,210
N/A TRUSTEE/VP/COO (THRU 2/2023) 1.0
Officer Director
$0 $7,887 $53,637
N/A TRUSTEE 1.0
Director
$0 $0 $0
N/A TRUSTEE 1.0
Director
$0 $41,499 $345,090
N/A TRUSTEE 1.0
Director
$0 $154,926 $1,493,730
N/A TRUSTEE 1.0
Director
$0 $68,997 $1,927,066
N/A TRUSTEE 1.0
Director
$0 $42,949 $437,416
N/A TRUSTEE/VP/CNO 1.0
Director
$0 $53,983 $316,023
N/A TRUSTEE 1.0
Director
$0 $0 $0
N/A TRUSTEE 1.0
Director
$0 $51,550 $456,578
N/A TRUSTEE 1.0
Director
$0 $74,378 $887,623
N/A TRUSTEE 1.0
Director
$0 $80,466 $1,137,742
N/A TREASURER 1.0
Officer
$0 $17,583 $435,834
N/A SECRETARY 1.0
Officer
$0 $57,139 $375,476
N/A FORMER OFFICER 0.0
$0 $241 $336,279
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 $861,846 $1,365,999 $13,663,608 $-504,153
2022 $819,616 $1,343,578 $14,036,743 $-523,962
2021 $794,472 $1,344,087 $14,379,000 $-549,615
2020 $766,260 $1,234,734 $14,767,173 $-468,474
2019 $773,158 $1,181,513 $15,132,024 $-408,355
2018 $772,155 $1,169,346 $15,469,425 $-397,191
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