LAKEWOOD DEVELOPMENT CORPORATION (EIN 311604974) - Form 990 Financial Analysis & Trantor Score

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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

1997

Legal Domicile

Principal Officer

ABRAHAM MULLER

Phone

7323642500

Tax Period

2024-01-01 to 2024-12-31

LAKEWOOD DEVELOPMENT CORPORATION, founded in 1997, is a community nonprofit in the Human Services sector that reported $4.3M in total revenue in fiscal year 2024. Revenue surged 94% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.7M, a strong 39% operating margin.

Mission

CREATED BY THE TOWNSHIP OF LAKEWOOD TO PROMOTE, ENCOURAGE AND ASSIST THE INDUSTRIAL, COMMERCIAL AND ECONOMIC DEVELOPMENT OF THE LAKEWOOD URBAN ENTERPRISE ZONE AND TO IMPROVE PROPERTY IN THE ZONE.

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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 $4,168,993

Program Service Revenue $0

Investment Income $140,164

Other Revenue $40,485

TOTAL REVENUE $4,349,642

Expense Breakdown

Grants Paid $0

Salaries & Benefits $441,309

Fundraising Expenses $0

Program Expenses $2,603,504

Other Expenses $2,232,250

TOTAL EXPENSES $2,673,559

Year-over-Year Comparison

	2024	2023	Change
Revenue	$4,349,642	$2,236,613	+0.9%
Expenses	$2,673,559	$891,297	+2.0%
Net Income	$1,676,083	$1,345,316	+0.2%

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

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

$172,244

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PATRICK DONNELLY	TRUSTEE	1.00	Director	$0	$0	$0
DEBORAH FUENTES	TRUSTEE	1.00	Director	$0	$0	$0
LEIB GOLD	TRUSTEE	1.00	Director	$0	$0	$0
MICHAEL MCNEIL	TRUSTEE	1.00	Director	$0	$0	$0
ELI RENNERT	TRUSTEE	1.00	Director	$0	$0	$0
ABRAHAM MULLER	CHAIRMAN	3.00	Officer	$0	$0	$0
RAYMOND COLES	VICE CHAIRMAN	3.00	Officer	$0	$0	$0
RABBI MOSHE ZEV WEISBERG	SECRETARY/TREAS	3.00	Officer	$0	$0	$0
DAVID KLEIN	EXECUTIVE DIRECTOR	40.00	Key Emp	$172,244	$0	$172,244

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	$4,349,642	$2,673,559	$19,473,047	$1,676,083
2023	$2,236,613	$891,297	$20,990,371	$1,345,316
2022	$2,074,456	$614,628	$19,635,710	$1,459,828
2021	$209,046	$526,377	$18,276,302	$-317,331
2020	$153,157	$544,697	$18,517,884	$-391,540
2019	$203,534	$581,058	$19,124,568	$-377,524
2018	$242,671	$805,297	$22,490,726	$-562,626

LAKEWOOD DEVELOPMENT CORPORATION