FAR SOUTH COMMUNITY DEVELOPMENT CORP (EIN 362946248) - 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

1977

Legal Domicile

Principal Officer

ABRAHAM LACY

Phone

7738306275

Tax Period

2024-01-01 to 2024-12-31

FAR SOUTH COMMUNITY DEVELOPMENT CORP, founded in 1977, is a community nonprofit in the Community Improvement sector that reported $4.8M in total revenue in fiscal year 2024. Revenue surged 75% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.6M, a strong 33% operating margin.

Mission

Through planning and collaboration with private developers, governmental entities and other stake-holders, the Far-South Community Development Corporation (Far South CDC)strives to facilitate and foster quality retail businesses that will meet the needs of the community, new industrial uses, and new rehabilitated commercial and residential real estate developments that will create jobs and improve the quality of life for all people who live and work in its service area.

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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 $4,510,382

Program Service Revenue $273,785

Investment Income $0

Other Revenue $19,096

TOTAL REVENUE $4,803,263

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,503,170

Fundraising Expenses $43,588

Program Expenses $2,325,460

Other Expenses $1,732,865

TOTAL EXPENSES $3,236,035

Year-over-Year Comparison

	2024	2023	Change
Revenue	$4,803,263	$2,749,870	+0.7%
Expenses	$3,236,035	$3,210,799	+0.0%
Net Income	$1,567,228	$-460,929	-4.4%

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

$147,500

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ABRAHAM LACY	Executive Dir.	40.00	Officer	$147,500	$0	$147,500
NIKIESHA EMERY	COO	40.00		$120,000	$0	$120,000
CHESTER BELL JR	Director	2.00	Director	$0	$0	$0
REV LEONARDO GILBERT	Director	2.00	Director	$0	$0	$0
MELVIN THOMPSON	Director	2.00	Director	$0	$0	$0
MAGGIE CATANIA	Director	2.00	Director	$0	$0	$0
KAREEM MUSAWWIR	Director	2.00	Director	$0	$0	$0
YOLANDA RICHARDS-ALBERT	Chairman	10.00	Officer	$0	$0	$0
DENNIS O'MALLEY	Treasurer	5.00	Officer	$0	$0	$0
JOHN CHENIER	Secretary	5.00	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
2024	No data	No data	No data	No data
2024	$4,803,263	$3,236,035	$9,248,791	$1,567,228
2023	$2,749,870	$3,210,799	$5,588,988	$-460,929
2023	No data	$13,313	$4,086,568	No data
2022	No data	$13,382	$4,289,692	No data
2022	$3,221,500	$3,488,681	$4,099,880	$-267,181
2021	$2,694,787	$2,032,945	$4,303,074	$661,842
2020	$1,691,162	$1,461,971	$3,530,156	$229,191
2020	No data	$6,086	$2,486,491	No data
2019	$1,748,745	$1,596,084	$3,169,383	$152,661
2018	$1,373,199	$1,421,274	$2,753,136	$-48,075

FAR SOUTH COMMUNITY DEVELOPMENT CORP