SOUNDVIEW SENIOR HOUSING DEVELOPMENT FUND COMPANY INC

EIN: 300162353 501(c)(3) Housing & Shelter

ST ALBANS, NY

Total Revenue
$1,120,250
Total Expenses
$1,546,776
Total Assets
$11,741,276
Net Assets
$-2,648,121
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2002
Legal Domicile
NY
Principal Officer
TREVOR MCLEAN
Phone
7189910999
Tax Period
2023-01-01 to 2023-12-31

SOUNDVIEW SENIOR HOUSING DEVELOPMENT FUND COMPANY INC, founded in 2002, is a community nonprofit in the Housing & Shelter sector that reported $1.1M in total revenue in fiscal year 2023. Revenue fell 36% from the prior year — a significant decline worth monitoring. Expenses of $1.5M exceeded revenue, resulting in a 38% operating deficit.

Mission

TO OPERATE A 72 UNIT SENIOR HOUSING FACILITY FOR THE ELDERLY AND HANDICAPPED.

Program Service Accomplishments

Program 1
Expenses: $1,287,443 Revenue: $297,417

SPORSORED BY THE NORTHEASTERN CONFERENCE CORPORATION OF SEVENTH-DAY ADVENTISTS (THE "SPONSOR"), SOUNDVIEW SENIOR HDFC (THE "ENTITY") WAS ORGANIZED IN 2002 FOR THE PURPOSE OF DEVELOPING AND OPERATING...

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SPORSORED BY THE NORTHEASTERN CONFERENCE CORPORATION OF SEVENTH-DAY ADVENTISTS (THE "SPONSOR"), SOUNDVIEW SENIOR HDFC (THE "ENTITY") WAS ORGANIZED IN 2002 FOR THE PURPOSE OF DEVELOPING AND OPERATING A SENIOR HOUSING AND RELATED FACILITIES FOR THE ELDERLY AND HANDICAPPED. THE ENTITY WAS FINANCED THROUGH THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT ("HUD") UNDER SECTION 202 AND CONSISTS OF 72 UNITS ELIGIBLE FOR HUD SECTION 8 RENTAL ASSISTANCE. SUCH ENTITIES ARE REGULATED BY HUD AS TO RENT CHARGES AND OPERATING METHODS.

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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 $821,046
Program Service Revenue $297,417
Investment Income $1,307
Other Revenue $480
TOTAL REVENUE $1,120,250

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $1,287,443
Other Expenses $1,546,776
TOTAL EXPENSES $1,546,776

Year-over-Year Comparison

2023 2022 Change
Revenue $1,120,250 $1,738,148 -0.4%
Expenses $1,546,776 $1,619,461 0.0%
Net Income $-426,526 $118,687 -4.6%
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
5
Independent Members
5
Employees
N/A
Volunteers
5

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
$0
Total Directors
5
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
TREVOR MCLEAN PRESIDENT 6.00
Officer Director
$0 $0 $0
JANET RIVERA TREASURER 1.00
Officer Director
$0 $0 $0
SHARON MOHAMMED SECRETARY 1.00
Officer Director
$0 $0 $0
RUEL JOHNSON DIRECTOR 1.00
Director
$0 $0 $0
ALMOA F MARTIN DIRECTOR 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 No data No data No data No data
2023 $1,120,250 $1,546,776 $11,741,276 $-426,526
2022 $1,738,148 $1,619,461 $11,363,016 $118,687
2021 $1,726,903 $1,580,740 $11,135,564 $146,163
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