CARITAS HOUSING CORPORATION

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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

2009

Legal Domicile

Principal Officer

RICHARD BALCOM

Phone

5167337032

Tax Period

2023-10-01 to 2024-09-30

CARITAS HOUSING CORPORATION, founded in 2009, is a small nonprofit in the Housing & Shelter sector that reported $612K in total revenue in fiscal year 2023. Revenue surged 23% from the prior year, signaling strong growth momentum. The organization ran a surplus of $345K, a strong 56% operating margin.

Mission

TO PROVIDE AFFORDABLE HOUSING AND RELATED SERVICES FOR THE ECONOMICALLY AND FINANCIALLY DISADVANTAGED WHO ARE NOT ABLE TO AFFORD HOUSING IN THEIR COMMUNITY, INCLUDING SENIOR CITIZENS, THE ELDERLY AND THE DISABLED.

Program Service Accomplishments

Program 1

Expenses: $250,000

THE ORGANIZATION IS IN THE PROCESS OF PROVIDING FUNDS NECESSARY TO OTHER NONPROFIT ORGANIZATIONS THAT HAVE THE SAME MISSION OF PROVIDING AFFORDABLE HOUSING TO THOSE WHO ARE ECONOMICALLY AND...

THE ORGANIZATION IS IN THE PROCESS OF PROVIDING FUNDS NECESSARY TO OTHER NONPROFIT ORGANIZATIONS THAT HAVE THE SAME MISSION OF PROVIDING AFFORDABLE HOUSING TO THOSE WHO ARE ECONOMICALLY AND FINANCIALLY DISADVANTAGED. THE NONPROFIT ORGANIZATIONS RECEIVING THE FUNDS ARE PROVIDING AFFORDABLE HOUSING AND RELATED SERVICES FOR PERSONS OF LIMITED MEANS OR SPECIAL NEEDS IN LONG ISLAND, NEW YORK, WHERE NO ADEQUATE HOUSING EXISTS FOR SUCH 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 $0

Investment Income $612,118

Other Revenue $0

TOTAL REVENUE $612,118

Expense Breakdown

Grants Paid $250,000

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $250,000

Other Expenses $16,856

TOTAL EXPENSES $266,856

Year-over-Year Comparison

	2023	2022	Change
Revenue	$612,118	$498,994	+0.2%
Expenses	$266,856	$265,484	+0.0%
Net Income	$345,262	$233,510	+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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL SMITH	PRESIDENT	1.00	Officer Director	$0	$0	$0
RICHARD BALCOM	TREASURER	1.00	Officer Director	$0	$0	$0
ROBERT J AHLSTROM JR	TRUSTEE	1.00	Director	$0	$0	$0
WILLIAM G CHAPIN	TRUSTEE	1.00	Director	$0	$0	$0
MARYANNE FITZGERALD	TRUSTEE	1.00	Director	$0	$0	$0
STEVEN PIETROWSKI	TRUSTEE	1.00	Director	$0	$0	$0
GARY CREGAN	TRUSTEE	1.00	Director	$0	$0	$0
JESUS VALDES	TRUSTEE	1.00	Director	$0	$0	$0

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	$612,118	$266,856	$12,635,944	$345,262
2023	$498,994	$265,484	$12,294,707	$233,510
2022	$71,843	$263,352	$12,056,172	$-191,509
2021	$8,106,484	$241,372	$12,249,041	$7,865,112
2020	$1,931,328	$373,972	$4,383,929	$1,557,356
2019	$57,727	$240,535	$2,826,573	$-182,808
2018	$86,483	$238,798	$3,008,981	$-152,315