RESTORING COMMUNITIES HOUSING DEVELOPMENT FUND CORPORATION (EIN 454252738) - 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

2019

Legal Domicile

Principal Officer

MR SALVATORE D'AVOLA

Phone

2125848981

Tax Period

2023-01-01 to 2023-12-31

RESTORING COMMUNITIES HOUSING DEVELOPMENT FUND CORPORATION, founded in 2019, is a small nonprofit in the Housing & Shelter sector that reported $682K in total revenue in fiscal year 2023. Revenue fell 76% from the prior year — a significant decline worth monitoring. Expenses of $924K exceeded revenue, resulting in a 35% operating deficit.

Mission

THE CORPORATION IS ORGANIZED EXCLUSIVELY FOR THE PURPOSE OF PRESERVING AND CREATING, ON A NON PROFIT BASIS, HOUSING PROJECTS FOR PERSONS OF LOW AND MODERATE INCOME. IN ADDITION TO PROMOTING AFFORDABLE HOUSING OPPORTUNITIES, IT SEEKS TO PREVENT AND ELIMINATE BLIGHT AND FOSTER THE STABLIZATION OF COMMUNITIES THROUGHOUT NEW YORK CITY.

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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 $682,500

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $682,500

Expense Breakdown

Grants Paid $682,500

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $830,241

Other Expenses $241,559

TOTAL EXPENSES $924,059

Year-over-Year Comparison

	2023	2022	Change
Revenue	$682,500	$2,883,500	-0.8%
Expenses	$924,059	$2,656,225	-0.7%
Net Income	$-241,559	$227,275	-2.1%

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

$289,361

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
HAROLD SHULTZ	PRESIDENT	1.00	Officer Director	$0	$0	$0
LYDIA TOM	OUTGOING TREASURER	1.00	Officer Director	$0	$0	$0
MICHAEL WADMAN	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
TATIANA PENA	SECRETARY	1.00	Officer Director	$0	$0	$0
VALERIE WHITE	OUTGOING SECRETARY	1.00	Officer Director	$0	$0	$0
VICTORIA BARRECA	TREASUTER	1.00	Officer Director	$0	$0	$0
XIOMARA PEDRAZA	DIRECTOR	1.00	Director	$0	$0	$0
RICHARD PINNER	ASSISTANT SECRETARY	1.00	Officer	$0	$0	$0
SALVATORE D'AVOLA	ASSISTANT SECRETARY	6.00	Officer	$0	$25,032	$289,361

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
2023	$682,500	$924,059	$852,435	$-241,559
2022	$2,883,500	$2,656,225	$1,086,277	$227,275
2021	$323,336	$162,179	$870,836	$161,157
2021	$323,336	$162,179	$870,836	$161,157
2020	$248,500	$126,326	$674,280	$122,174
2019	$549,500	$113,838	$531,070	$435,662
2018	$642,000	$386,270	$310,222	$255,730

RESTORING COMMUNITIES HOUSING DEVELOPMENT FUND CORPORATION