4-12 Gouverneur Place Housing Development Fund Corporation

EIN: 273437725 501(c)(3) Housing & Shelter

Yonkers, NY

Total Revenue
$755,809
Total Expenses
$291,083
Total Assets
$12,056,206
Net Assets
$4,038,274
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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
2010
Legal Domicile
NY
Principal Officer
RICHARD NIGHTINGALE
Phone
9143452800
Tax Period
2024-01-01 to 2024-12-31

4-12 Gouverneur Place Housing Development Fund Corporation, founded in 2010, is a small nonprofit in the Housing & Shelter sector that reported $756K in total revenue in fiscal year 2024. The organization ran a surplus of $465K, a strong 61% operating margin.

Mission

THE ORGANIZATION IS ORGANIZED EXCLUSIVELY FOR THE PURPOSE OF PROVIDING HOUSING ACCOMODATIONS FOR PERSONS OF LOW INCOME AND/OR FAMILIES OF LOW INCOME (AS THOSE TERMS ARE DEFINED IN SECTION TWO OF THE PRIVATE HOUSING FINANCE LAW) BY ACQUIRING, DEVELOPING AND MANAGING HOUSING PROJECTS FOR PERSONS AND/OR FAMILIES OF LOW INCOME, INCLUDING WITHOUT LIMITATION THE REAL PROPERTY AT 4-12 GOUVERNEUR PLACE, BRONX, NEW YORK, UPON WHICH IS INTENDED TO BE DEVELOPED A HOUSING PROJECT CONSISTING OF STUDIO APARTMENTS FOR LOW INCOME INDIVIDUALS DIAGNOSED WITH SERIOUS MENTAL ILLNESS AND FAMILY APARTMENTS FOR LOW INCOME FAMILIES.

Program Service Accomplishments

Program 1
Expenses: $291,083 Revenue: $29,429

THE ORGANIZATION IS PROVIDING FINANCING FOR THE ACQUISITION AND DEVELOPMENT OF HOUSING ACCOMODATIONS FOR PERSONS OF LOW INCOME AND/OR FAMILIES OF LOW-INCOME (AS THOSE TERMS DEFINED IN SECTION TWO OF...

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THE ORGANIZATION IS PROVIDING FINANCING FOR THE ACQUISITION AND DEVELOPMENT OF HOUSING ACCOMODATIONS FOR PERSONS OF LOW INCOME AND/OR FAMILIES OF LOW-INCOME (AS THOSE TERMS DEFINED IN SECTION TWO OF THE PRIVATE HOUSING FINANCE LAW), AT 4-12 GOUVENERNEUR PLACE IN BRONX, NY WHICH IS INTENDED TO BE A HOUSING PROJECT CONSISTING OF STUDIO APARTMENTS FOR LOW INCOME INDIVIDUALS DIAGNOSED WITH SERIOUS MENTAL ILLNESS AND FAMILY APARTMENTS FOR LOW INCOME FAMILIES.

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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 (2024)

Revenue Breakdown

Contributions & Grants $726,380
Program Service Revenue $0
Investment Income $29,429
Other Revenue $0
TOTAL REVENUE $755,809

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $291,083
Other Expenses $291,083
TOTAL EXPENSES $291,083

Year-over-Year Comparison

2024 2023 Change
Revenue $755,809 $755,809 N/A
Expenses $291,083 $303,736 0.0%
Net Income $464,726 $452,073 +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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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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Governance

Voting Members
3
Independent Members
N/A
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
3
$1,338,642
Total Directors
3
$1,338,642
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
RICHARD NIGHTINGALE PRESIDENT/CEO 35.0
Officer Director
$0 $53,979 $534,607
JAMES COUGHLIN SECRETARY/TREASURER 35.0
Officer Director
$0 $53,979 $418,027
andrew germansky Sr. VP of Real Estate 35.0
Officer Director
$0 $53,130 $386,008
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 $755,809 $291,083 $12,056,206 $464,726
2023 $755,809 $303,736 $12,026,777 $452,073
2022 $755,809 $319,847 $11,997,349 $435,962
2021 $755,809 $333,460 $11,967,920 $422,349
2020 $755,809 $345,645 $11,938,491 $410,164
2019 $755,809 $357,900 $11,909,063 $397,909
2018 $755,809 $372,770 $11,879,634 $383,039
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