MHANY 2002 HOUSING DEVELOPMENT FUND CORPORATION (EIN 320007137) - 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

2002

Legal Domicile

Principal Officer

ISMENE SPELIOTIS

Phone

7182468080

Tax Period

2024-01-01 to 2024-12-31

MHANY 2002 HOUSING DEVELOPMENT FUND CORPORATION, founded in 2002, is a community nonprofit in the Housing & Shelter sector that reported $1.1M in total revenue in fiscal year 2024. Revenue decreased 10% compared to the prior year. Expenses of $1.6M exceeded revenue, resulting in a 42% operating deficit.

Mission

DEVELOP, ON A NON-PROFIT BASIS, A HOUSING PROJECT FOR PERSONS OF LOW INCOME.

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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 $0

Program Service Revenue $1,079,381

Investment Income $1,139

Other Revenue $12,733

TOTAL REVENUE $1,093,253

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $1,467,636

Other Expenses $1,555,703

TOTAL EXPENSES $1,555,703

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,093,253	$1,215,249	-0.1%
Expenses	$1,555,703	$1,599,483	0.0%
Net Income	$-462,450	$-384,234	+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

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DERRICK OWENS	PRESIDENT	1.00	Officer Director	$0	$0	$0
NATALIE BROWN	SECRETARY	1.00	Officer Director	$0	$0	$0
JENNY PACHECO	TREASURER	1.00	Officer 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	$1,093,253	$1,555,703	$9,463,720	$-462,450
2023	$1,215,249	$1,599,483	$9,189,827	$-384,234
2023	$1,092,479	$1,569,908	$9,252,624	$-477,429
2022	$1,200,942	$1,425,022	$9,476,681	$-224,080
2021	$1,075,365	$1,335,982	$9,883,829	$-260,617
2020	$1,045,812	$1,232,073	$10,270,225	$-186,261
2019	$1,025,677	$1,182,045	$10,443,199	$-156,368
2018	$1,105,176	$1,217,599	$10,578,544	$-112,423

MHANY 2002 HOUSING DEVELOPMENT FUND CORPORATION