CASTOR HOUSING DEVELOPMENT CORPORATION (EIN 421578355) - 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

2003

Legal Domicile

Principal Officer

THOMAS AK QUEENAN

Phone

2155578484

Tax Period

2023-07-01 to 2024-06-30

CASTOR HOUSING DEVELOPMENT CORPORATION, founded in 2003, is a small nonprofit in the Mental Health sector that reported $106K in total revenue in fiscal year 2023. Revenue surged 28% from the prior year, signaling strong growth momentum. Expenses of $133K exceeded revenue, resulting in a 25% operating deficit.

Mission

ORGANIZED TO ACQUIRE, REHABILITATE, CONSTRUCT, OWN AND OPERATE AN AFFORDABLE HOUSING PROJECT IN PHILADELPHIA FOR THE PURPOSES OF PROVIDING LOW INCOME, SAFE, AFFORDABLE AND PERMANENT HOUSING FOR THE DISABLED AS MAY BE IDENTIFIED BY FEDERAL, STATE OR COUNTY OFFICIALS.

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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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $102,837

Investment Income $6

Other Revenue $3,468

TOTAL REVENUE $106,311

Expense Breakdown

Grants Paid $0

Salaries & Benefits $24,301

Fundraising Expenses $0

Program Expenses $123,332

Other Expenses $108,420

TOTAL EXPENSES $132,721

Year-over-Year Comparison

	2023	2022	Change
Revenue	$106,311	$82,752	+0.3%
Expenses	$132,721	$137,046	0.0%
Net Income	$-26,410	$-54,294	-0.5%

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

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

$1,003,462

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL DAVIDSON	CHAIR	0.30	Officer Director	$0	$0	$0
RUSSEL JOHNSON	VICE CHAIR	0.30	Officer Director	$0	$0	$0
MARK DUFFY	TREASURER	0.30	Officer Director	$0	$0	$0
MICHAEL SIMMONS	SECRETARY	0.30	Officer Director	$0	$0	$0
HARRY G DITTMANN	BOARD MEMBER	0.30	Director	$0	$0	$0
JAMES KILCOYNE	BOARD MEMBER	1.00	Director	$0	$0	$0
MARVA WILLIAMS	BOARD MEMBER	0.30	Director	$0	$0	$0
THOMAS AK QUEENAN	PRESIDENT & CEO	1.00	Officer	$0	$10,118	$329,089
CHIP DARLING	VICE PRESIDENT & COO	1.00	Officer	$0	$28,035	$210,122
MARK DEITCHER	ASSISTANT TREASURER, VP	1.00	Officer	$0	$28,390	$221,967
ROBERT KWAIT	ASSISTANT SECRETARY, VP	1.00	Officer	$0	$28,837	$242,284

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	No data	No data	No data	No data
2024	$106,311	$132,721	$495,901	$-26,410
2023	$82,752	$137,046	$522,379	$-54,294
2022	$82,321	$144,911	$553,370	$-62,590
2021	$87,396	$115,729	$587,022	$-28,333
2020	$88,603	$106,100	$596,995	$-17,497
2019	$124,264	$108,571	$610,506	$15,693
2018	$76,405	$114,652	$584,981	$-38,247

CASTOR HOUSING DEVELOPMENT CORPORATION