HEALTHY NEIGHBORHOODS INC

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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

2004

Legal Domicile

Principal Officer

ROBERT PIPIK

Phone

4103320387

Tax Period

2024-01-01 to 2024-12-31

HEALTHY NEIGHBORHOODS INC, founded in 2004, is a community nonprofit in the Community Improvement sector that reported $3.2M in total revenue in fiscal year 2024. Expenses of $3.6M exceeded revenue, resulting in a 12% operating deficit.

Mission

TO HELP BALTIMORE COMMUNITIES FORGE STRONG CONNECTIONS AMONG NEIGHBORS TO MARKET THEIR COMMUNITIES, INCREASE HOME VALUES AND CREATE HIGH STANDARDS FOR PROPERTY IMPROVEMENT. USING ITS CAPACITY TO ATTRACT AND INVEST PUBLIC AND PRIVATE CAPITAL, HNI HAS IMPROVED NEIGHBORHOODS THROUGHOUT BALTIMORE CITY.

Program Service Accomplishments

Program 1

Expenses: $720,370 Revenue: $720,369

HEALTHY NEIGHBORHOODS HAS USED IT CAPACITY TO MANAGE REHABILITATION OF OLDER BUILDINGS IN BALTIMORE CITY TO IMPROVE SERVICES TO LOW INCOME CITIZENS. LOCAL AND STATE GOVERNMENT AND FOUNDATIONS...

HEALTHY NEIGHBORHOODS HAS USED IT CAPACITY TO MANAGE REHABILITATION OF OLDER BUILDINGS IN BALTIMORE CITY TO IMPROVE SERVICES TO LOW INCOME CITIZENS. LOCAL AND STATE GOVERNMENT AND FOUNDATIONS REQUESTED HEALTHY NEIGHBORHOODS TO IDENTIFY NONPROFIT OWNED BUILDINGS THAT PROVIDED SERVICES TO THE POOR AND MANAGE INVESTMENT OF CUSTOMER INVESTMENT FUNDSCOLLECTED FROM EXELON TO MAKE ENERGY SAVING IMPROVEMENTS. EACH PROJECT RECEIVED AN ENERGY AUDIT TO DETERMINE THE SAVINGS OF PROPOSED IMPROVEMENTS. HEALTHY NEIGHBORHOODS SELECTS CONTRACTORS AND OVERSEES AND INSPECTS THE WORK IN PLACE. MORE THAN 150 BUILDINGS, SCHOOLS,CHURCHES, NONPROFITS OFFICES, PERFORMING ARTS CENTERS HAVE BENEFITTED FROM MORE THAN $10 MILLION OF INVESTMENT.

Program 2

Expenses: $1,809,600 Revenue: $1,962,704

BALTIMORE CITY AND THE STATE OF MARYLAND CALL ON HEALTHY NEIGHBORHOODS TO MANAGE THE INVESTMENT OF PUBLIC FUNDS TO SUPPORT COMMUNITY DEVELOPMENT IN CITY NEIGHBORHOODS. THE EXAMPLES ARE THE ONE MILE RADIUS FUNDS ("OMR")AND THE BALTIMORE REGIONAL NEIGHBORHOODS INITIATIVE ("BRNI"). OMR FUNDS DERIVE FROM A TAX ON VIDEO LOTTERY ("SLOTS") MACHINES TO BE USED TO IMPROVE NEIGHBORHOODS WITHIN ONE MILE OF PIMLICO RACE COURSE. EACH YEAR THE CITY GRANTS TO HNI A SUM OF MONEY WHICH HNI REGRANTS TO NEIGHBORHOOD BASED NONPROFITS. THE PROJECTS ARE VERYDIVERSE: LITTLE LEAGUE ATHLETICS, RENOVATION OF AN ABANDONED MOVIE THEATER INTO A COMMUNITY ARTS CENTER, HOMELESS SERVICES, HOUSING DEVELOPMENT. TO DATE $4.2 MILLION HAS BEEN INVESTED. THE BRNI PROGRAM IS ANOTHER STATE COMMUNITY DEVELOPMENT PROGRAM FOR WHICH HNI IS THE ADMINISTRATOR.

Program 3

Expenses: $605,212 Revenue: $0

HEALTHY NEIGHBORHOODS SUPPORTS BALTIMORE CITY'S MIDDLE NEIGHBORHOODS BY IMPROVING HOME VALUES BEYOND APPRAISED VALUE, BUILDING HOMEOWNER EQUITY, PROVIDING CONCESSIONARY FINANCING FOR...

HEALTHY NEIGHBORHOODS SUPPORTS BALTIMORE CITY'S MIDDLE NEIGHBORHOODS BY IMPROVING HOME VALUES BEYOND APPRAISED VALUE, BUILDING HOMEOWNER EQUITY, PROVIDING CONCESSIONARY FINANCING FOR ACQUISITION/REHAB, REFINANCE/REHAB AND HOME IMPROVEMENT. HEALTHY NEIGHBORHOODS SUPPORTNEIGHBORHOOD ORGANIZATIONS TO ORGANIZE AROUND COMMUNITY ASSETS AND POSITIVE ASSET DRIVEN MARKETING STRATEGIES. HEALTHY NEIGHBORHOODS IS ACTIVE IN 46 BALTIMORE CITY NEIGHBORHOODS. THE HEALTHY NEIGHBORHOODS LOAN PROGRAM HAS RAISED $105 MILLION OF DEBT FROM BANKS WHICH HASFINANCED THE IMPROVEMENT OF MORE THAN 780 HOMES. IT HAS USED THE PROCEEDS OF A FEDERAL NEIGHBORHOOD STABILIZATION PROGRAM GRANT TO INVEST $44 MILLION TO RENOVATE 201 FORECLOSED AND ABANDONED HOUSES.

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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 (2024)

Revenue Breakdown

Contributions & Grants $2,910,410

Program Service Revenue $0

Investment Income $86,212

Other Revenue $227,337

TOTAL REVENUE $3,223,959

Expense Breakdown

Grants Paid $1,996,231

Salaries & Benefits $1,019,374

Fundraising Expenses $105,273

Program Expenses $3,300,825

Other Expenses $592,716

TOTAL EXPENSES $3,608,321

Year-over-Year Comparison

	2024	2023	Change
Revenue	$3,223,959	$3,139,337	+0.0%
Expenses	$3,608,321	$2,741,474	+0.3%
Net Income	$-384,362	$397,863	-2.0%

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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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

$171,519

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LOUIS P MATHEWS JR	CHAIR	1.00	Officer Director	$0	$0	$0
JON M LARIA	VICE CHAIR	1.00	Officer Director	$0	$0	$0
THOMAS R JONES	TREASURER	1.00	Officer Director	$0	$0	$0
NORA VLAHOYIANNIS	SECRETARY	1.00	Officer Director	$0	$0	$0
TIM ARMBRUSTER	TRUSTEE EMERITUS	1.00	Director	$0	$0	$0
DOUGLASS AUSTIN	TRUSTEE	1.00	Director	$0	$0	$0
CHERYL CASCIANI	TRUSTEE	1.00	Director	$0	$0	$0
ROBERT A DEALMEIDA	TRUSTEE	1.00	Director	$0	$0	$0
ROBERT C EMBRY JR	TRUSTEE	1.00	Director	$0	$0	$0
PAUL T GRAZIANO	TRUSTEE	1.00	Director	$0	$0	$0
TRACY KARTYE	TRUSTEE	1.00	Director	$0	$0	$0
ALICE KENNEDY EX-OFFICIO	TRUSTEE	1.00	Director	$0	$0	$0
STEVE MCGUIRE	TRUSTEE	1.00	Director	$0	$0	$0
ANNIE MILLI	TRUSTEE	1.00	Director	$0	$0	$0
ELIZABETH R MINKIN	TRUSTEE	1.00	Director	$0	$0	$0
CHRISTOPHER RYER EX-OFFICIO	TRUSTEE	1.00	Director	$0	$0	$0
SHANAYSHA SAULS PHD	TRUSTEE	1.00	Director	$0	$0	$0
DANIEL WERNECKE	TRUSTEE	1.00	Director	$0	$0	$0
KEVIN CARTER	TRUSTEE	1.00	Director	$0	$0	$0
ANDREW SAMUEL	TRUSTEE	1.00	Director	$0	$0	$0
THOMAS SYCHUK	TRUSTEE	1.00	Director	$0	$0	$0
ROBERT PIPIK	PRESIDENT	40.00	Officer	$163,351	$8,168	$171,519

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	$3,223,959	$3,608,321	$11,408,607	$-384,362
2023	$3,139,337	$2,741,474	$6,701,242	$397,863
2022	$1,967,704	$2,474,769	$6,349,170	$-507,065
2021	$2,995,250	$4,181,435	$5,880,711	$-1,186,185
2020	$3,471,405	$5,032,843	$5,186,687	$-1,561,438
2019	$3,922,812	$4,636,777	$6,907,246	$-713,965
2018	$5,384,111	$5,948,224	$7,918,415	$-564,113