HENRY PHIPPS PLAZA NORTH HOUSING DEVELOPMENT FUND CORPORATION (EIN 263324332) - 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

2008

Legal Domicile

Principal Officer

ADAM WEINSTEIN

Phone

2122439090

Tax Period

2023-07-01 to 2024-06-30

HENRY PHIPPS PLAZA NORTH HOUSING DEVELOPMENT FUND CORPORATION, founded in 2008, is a community nonprofit in the Housing & Shelter sector that reported $3.0M in total revenue in fiscal year 2023. Expenses of $3.5M exceeded revenue, resulting in a 17% operating deficit.

Mission

HENRY PHIPPS PLAZA NORTH HOUSING DEVELOPMENT FUND CORPORATION WAS FORMED IN 2008 TO PROVIDE HOUSING TO LOW AND MODERATE INCOME RESIDENTS OF NEW YORK CITY.

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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 $2,870,702

Investment Income $49,281

Other Revenue $59,048

TOTAL REVENUE $2,979,031

Expense Breakdown

Grants Paid $400,000

Salaries & Benefits $464,707

Fundraising Expenses $0

Program Expenses $3,102,496

Other Expenses $2,606,741

TOTAL EXPENSES $3,471,448

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,979,031	$3,065,460	0.0%
Expenses	$3,471,448	$3,356,907	+0.0%
Net Income	$-492,417	$-291,447	+0.7%

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

N/A

Employees

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

$2,541,726

Total Directors

$1,757,428

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ADAM WEINSTEIN	PRESIDENT	1.00	Officer Director	$0	$172,076	$990,213
JAMES ROBERT PIGOTT JR	VICE PRESIDENT AND SECRETA	1.00	Officer Director	$0	$79,704	$430,091
LUKEMAN OGUNYINKA	TREASURER	1.00	Officer Director	$0	$62,804	$337,124
MATTHEW KELLY	VICE PRESIDENT	1.00	Officer	$0	$73,253	$423,493
MICHAEL WADMAN	VICE PRESIDENT	1.00	Officer	$0	$58,015	$360,805

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	No data	No data	No data	No data
2024	$2,979,031	$3,471,448	$4,871,021	$-492,417
2023	$3,065,460	$3,356,907	$5,140,805	$-291,447
2022	$3,089,341	$3,934,925	$5,000,336	$-845,584
2021	$3,056,926	$3,979,970	$5,578,374	$-923,044
2020	$3,047,489	$3,280,369	$6,366,044	$-232,880
2019	$3,742,643	$3,722,590	$6,542,259	$20,053
2018	$3,056,647	$3,322,565	$6,369,660	$-265,918

HENRY PHIPPS PLAZA NORTH HOUSING DEVELOPMENT FUND CORPORATION