PROMESA HOMEFIRST HOUSING DEVELOPM… - Form 990 Financial Data

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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

2003

Legal Domicile

Principal Officer

RAUL RUSSI

Phone

7182991100

Tax Period

2019-01-01 to 2019-12-31

PROMESA HOMEFIRST HOUSING DEVELOPMENT FUND COMPANY INC, founded in 2003, is a micro nonprofit that reported $28 in total revenue in fiscal year 2019. Revenue fell 96% from the prior year — a significant decline worth monitoring. Expenses of $26K exceeded revenue, resulting in a 91536% operating deficit.

Mission

TO COMBAT COMMUNITY DETERIORATION AND LESSEN NEIGHBORHOOD TENSIONS THROUGH THE RESIDENTIAL REVITALIZATION OF THE BRONX AND ADJACENT AREAS OF BRONX COUNTY.

Program Service Accomplishments

Program 1

Expenses: $25,658

THE ENTITY WAS FOUNDED TO COMBAT COMMUNITY DETERIORATION AND LESSEN NEIGHBORHOOD TENSIONS THROUGH THE RESIDENTIAL REVITALIZATION OF BRONX COUNTY, NEW YORK

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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 (2019)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $0

Investment Income $28

Other Revenue $0

TOTAL REVENUE $28

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $25,658

Other Expenses $25,658

TOTAL EXPENSES $25,658

Year-over-Year Comparison

	2019	2018	Change
Revenue	$28	$750	-1.0%
Expenses	$25,658	$4,279	+5.0%
Net Income	$-25,630	$-3,529	+6.3%

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

$2,515,345

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RAUL RUSSI	ceo and president	0.0	Officer	$0	$65,322	$862,705
Lymaris Albors	CHIEF OF STAFF/coo	0.0	Officer	$0	$9,755	$440,432
JOSE r RODRIGUEZ	CLO	0.0	Officer	$0	$36,393	$437,383
MILTON A DERIENZO	cfo	0.0	Officer	$0	$14,571	$406,103
PAMELA MATTEL	FORMER COO (THROUGH 6/30/18)	0.0		$0	$0	$360,500
DAVID COLLYMORE	CMO	0.0	Officer	$0	$14,571	$306,223
HON HECTOR L DIAZ	PRESIDENT (THROUGH 1/31/19)	0.0	Officer	$0	$0	$62,499
Eduardo Alayon	CHAIR	1.0	Officer Director	$0	$0	$0
Carlos Laboy-Diaz	SECRETARY	1.0	Officer Director	$0	$0	$0
Pedro Falcon	TREASURER	1.0	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
2019	$28	$25,658	$2,422,178	$-25,630
2018	$750	$4,279	$2,416,789	$-3,529

PROMESA HOMEFIRST HOUSING DEVELOPMENT FUND COMPANY INC