ADAM & BRUCE HOUSING CORPORATION

EIN: 311135796 501(c)(3) Housing & Shelter

LONG BEACH, CA

Total Revenue
$479,014
Total Expenses
$424,197
Total Assets
$1,234,892
Net Assets
$-1,184,250
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1985
Legal Domicile
IN
Principal Officer
STUART HARTMAN
Phone
5622575100
Tax Period
2024-03-01 to 2025-02-28

ADAM & BRUCE HOUSING CORPORATION, founded in 1985, is a small nonprofit in the Housing & Shelter sector that reported $479K in total revenue in fiscal year 2024. Revenue surged 27% from the prior year, signaling strong growth momentum. Expenses of $424K left a modest 11% surplus.

Mission

ADAM AND BRUCE HOUSING CORPORATION IS A NOT-FOR-PROFIT CORPORATION FORMED IN ACCORDANCE WITH THE NOT-FOR-PROFIT STATUTES OF THE STATE OF INDIANA. THE CORPORATION WAS FORMED FOR THE PURPOSE OF OPERATING A 50 UNIT COMMUNITY KNOWN AS ADAM AND BRUCE APARTMENTS LOCATED IN FT. WAYNE, INDIANA, WHICH PROVIDES HOUSING FOR LOW INCOME ELDERLY PERSONS PURSUANT TO SECTION 202 OF THE NATIONAL HOUSING ACT, AS AMENDED. THE ORIGINAL MORTGAGE WAS SUBSEQUENTLY REFINANCED UNDER SECTION 207 PURSUANT TO SECTION 223(F) OF THE NATIONAL HOUSING ACT, AS AMENDED.

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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 $281,746
Program Service Revenue $133,022
Investment Income $-5,633
Other Revenue $69,879
TOTAL REVENUE $479,014

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $370,043
Other Expenses $424,197
TOTAL EXPENSES $424,197

Year-over-Year Comparison

2024 2023 Change
Revenue $479,014 $377,811 +0.3%
Expenses $424,197 $491,152 -0.1%
Net Income $54,817 $-113,341 -1.5%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
7
Independent Members
7
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
5
$952,416
Total Directors
7
$0
Key Employees
20
$5,403,144
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
HARTMAN STUART J PRESIDENT/CEO 0.20
Officer
$0 $76,739 $770,133
AMBERG ROBERT R EXECUTIVE VP GEN COUNSEL 0.20
Key Emp
$0 $54,717 $530,647
ROSSELLO FRANK JR CFO AND VP OF FINANCE 0.20
Key Emp
$0 $30,494 $488,122
FARD BOBBY J VP ACQUIS AND PROJ DEV 0.20
Key Emp
$0 $26,130 $326,600
ESCANDON YURI ANDREW DIRECTOR 0.20
Key Emp
$0 $55,605 $322,377
GILCHRIST KEVIN DARRELL VP DEV FIN & ASSET MGMT 0.20
Key Emp
$0 $58,557 $317,115
BATTAGLIA NADA VP HUMAN RESOURCES 0.20
Key Emp
$0 $53,518 $306,215
TITUS STEPHANIE L VP PHILANTHROPY/CSO 0.20
Key Emp
$0 $58,388 $310,109
KING DIANE D COMPL AND PRIVACY OFFICER 0.20
Key Emp
$0 $22,228 $259,898
MAGNONE VINCENT B VP TREASURY & INVSTMT OFF 0.20
Key Emp
$0 $21,761 $254,783
CLOW JOHN C VP RISK MANAGEMENT 0.20
Key Emp
$0 $22,289 $248,543
MICKELSON LAVONNE R DIR OF AFFORD HOUSING OPS 0.20
Key Emp
$0 $4,875 $209,677
STECKBECK KENT BUDGET & ANALYTICS DIR 0.20
Key Emp
$0 $5,371 $206,102
PHELPS LORI ANN INFO SYSTEMS DIRECTOR 0.20
Key Emp
$0 $5,944 $204,059
ROBINSON TINA M VP HOUSING ACCOUNTING 0.20
Key Emp
$0 $21,124 $214,780
HALL MAGGIE W ASSOCIATE COUNSEL 0.20
Key Emp
$0 $23,477 $212,890
CHUNG DEAN H CONTROLLER 0.20
Key Emp
$0 $31,777 $213,671
SANCHEZ OMAR E CONSTRUCTION MANAGER SR 0.20
Key Emp
$0 $15,920 $199,550
SILVA JOANNE L VP OCCUPANCY & TAX CREDIT 0.20
Key Emp
$0 $28,973 $212,522
FOX BUCHAN LAURA L SECRETARY 0.20
Officer
$0 $18,022 $182,283
RICANO PEGGY ACCT MANAGER EXEMPT 0.20
Key Emp
$0 $20,771 $180,914
RAGON CHRISTY ANN VP OF COMMUNICATIONS 0.20
Key Emp
$0 $23,388 $184,570
INGRAO SALVATORE A DEVEL ACCOUNTING DIR 0.20
Highest
$0 $15,918 $173,401
YOUNG SEESEE INTERNAL AUDIT DIRECTOR 0.20
Highest
$0 $4,876 $163,864
DO THANH-THANH ACCT MANAGER EXEMPT 0.20
Highest
$0 $20,165 $173,627
MOSQUEIRA PHIL AP DIRECTOR 0.20
Highest
$0 $21,625 $166,952
PORTER JR NEWMAN RUSH ENTITLEMENT PROJ MANAGER 0.20
Highest
$0 $19,865 $167,531
DESAEGHER NORMA N VICE PRESIDENT 0.20
Officer Director
$0 $0 $0
WIMS CAMERON TREASURER 0.20
Officer Director
$0 $0 $0
HOGAN ELLA DIRECTOR 0.20
Director
$0 $0 $0
BAUMAN JOHN DIRECTOR 0.20
Director
$0 $0 $0
POLLOCK JEFFREY R DIRECTOR 0.20
Director
$0 $0 $0
HART DONALD G DIRECTOR 0.20
Director
$0 $0 $0
WILSON CHERYL DIRECTOR 0.20
Director
$0 $0 $0
SEE SCHEDULE JO SALARY DISCLOSURE - PGS 34 & 38 0.00
Officer
$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
2025 $479,014 $424,197 $1,234,892 $54,817
2024 $377,811 $491,152 $1,167,103 $-113,341
2023 $238,032 $564,753 $1,345,370 $-326,721
2022 $249,263 $366,489 $1,093,715 $-117,226
2021 $304,672 $391,285 $1,103,954 $-86,613
2020 $359,626 $418,567 $1,175,823 $-58,941
2019 $385,842 $393,545 $1,226,782 $-7,703
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