PHIPPS AFFORDABLE HOUSING DEVELOPMENT FUND CORPORATION (EIN 270018002) - 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

2002

Legal Domicile

Principal Officer

ADAM WEINSTEIN

Phone

2122439090

Tax Period

2023-10-01 to 2024-09-30

PHIPPS AFFORDABLE HOUSING DEVELOPMENT FUND CORPORATION, founded in 2002, is a small nonprofit that reported $340K in total revenue in fiscal year 2023. Revenue decreased 13% compared to the prior year. Expenses of $396K exceeded revenue, resulting in a 16% operating deficit.

Mission

TO PROVIDE AFFORDABLE HOUSING TO LOW AND MODERATE-INCOME PERSONS.

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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 $307,262

Investment Income $4,515

Other Revenue $27,803

TOTAL REVENUE $339,580

Expense Breakdown

Grants Paid $0

Salaries & Benefits $16,850

Fundraising Expenses $0

Program Expenses $336,554

Other Expenses $378,657

TOTAL EXPENSES $395,507

Year-over-Year Comparison

	2023	2022	Change
Revenue	$339,580	$388,342	-0.1%
Expenses	$395,507	$419,078	-0.1%
Net Income	$-55,927	$-30,736	+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

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

$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/CEO	1.00	Officer Director	$0	$172,076	$990,213
GREGORY BRESKIN	DIRECTOR	1.00	Director	$0	$0	$0
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
2024	$339,580	$395,507	$1,814,749	$-55,927
2023	$388,342	$419,078	$1,877,710	$-30,736
2022	$319,352	$371,137	$1,860,660	$-51,785
2021	$288,952	$416,631	$1,907,111	$-127,679
2020	$294,117	$388,700	$2,031,448	$-94,583
2019	$308,792	$313,995	$2,117,524	$-5,203
2018	$312,117	$357,690	$2,114,422	$-45,573

PHIPPS AFFORDABLE HOUSING DEVELOPMENT FUND CORPORATION