SOUTH BROOKLYN RENEWAL HDFC

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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

2012

Legal Domicile

Principal Officer

BENJAMIN FULLER-GOOGINS

Phone

7182439301

Tax Period

2024-07-01 to 2025-06-30

SOUTH BROOKLYN RENEWAL HDFC, founded in 2012, is a small nonprofit in the Housing & Shelter sector that reported $314K in total revenue in fiscal year 2024. Revenue fell 21% from the prior year — a significant decline worth monitoring. Expenses of $462K exceeded revenue, resulting in a 47% operating deficit.

Mission

THE SOUTH BROOKLYN RENEWAL HDFC IS ORGANIZED EXCLUSIVELY FOR THE PURPOSE OF OWNING, CONSTRUCTING, REHABILITATING, LEASING, MANAGING, EQUIPPING, MAINTAINING, DEVELOPING, AND OPERATING A HOUSING PROJECT FOR PERSONS OF LOW-INCOME WITHIN THE MEANING OF ARTICLE XI OF THE PRIVATE HOUSING FINANCE LAW.

Program Service Accomplishments

Program 1

Expenses: $380,525 Revenue: $314,353

THE SOUTH BROOKLYN RENEWAL PROJECT WAS PART OF THE SECOND PHASE OF THE COLUMBIA STREET REVITALIZATION PROGRAM THAT WAS COMPLETED IN 1993. THE HDFC REHABILITATED SIX (6) BRICK-FRONT PROPERTIES TO...

THE SOUTH BROOKLYN RENEWAL PROJECT WAS PART OF THE SECOND PHASE OF THE COLUMBIA STREET REVITALIZATION PROGRAM THAT WAS COMPLETED IN 1993. THE HDFC REHABILITATED SIX (6) BRICK-FRONT PROPERTIES TO CREATE 28 APARTMENTS FOR LOW-INCOME AND HOMELESS RESIDENTS, AND ONE COMMERCIAL SPACE SERVING AS COMMUNITY FACILITY. SINCE THEN AND DURING 2017, THE ORGANIZATION HAS PROVIDED HOUSING TO LOW-INCOME TENANTS. SOUTH BROOKLYN RENEWAL HDFC WAS REPOSITIONED ON JUNE 28, 2012. OWNERSHIP WAS TRANSFERRED FROM THE SOUTH BROOKLYN RENEWAL LIMITED PARTNERSHIP TO THE SOUTH BROOKLYN RENEWAL HOUSING DEVELOPMENT FUND CORPORATION, AN ENTITY 100% OWNED BY THE CARROLL GARDENS ASSOCIATION.

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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 $269,810

Investment Income $0

Other Revenue $44,543

TOTAL REVENUE $314,353

Expense Breakdown

Grants Paid $0

Salaries & Benefits $169,346

Fundraising Expenses $0

Program Expenses $380,525

Other Expenses $292,786

TOTAL EXPENSES $462,132

Year-over-Year Comparison

	2024	2023	Change
Revenue	$314,353	$396,497	-0.2%
Expenses	$462,132	$466,594	0.0%
Net Income	$-147,779	$-70,097	+1.1%

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

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
BENJAMIN FULLER-GOOGINS	EXECUTIVE DI	1.00	Officer	$0	$0	$0
CYNTHIA GONZALEZ	PRESIDENT	1.00	Officer Director	$0	$0	$0
BENJAMIN M LEVINE	VICE PRESIDE	1.00	Officer Director	$0	$0	$0
GEORGE FIALA	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
2025	$314,353	$462,132	$2,209,914	$-147,779
2024	$396,497	$466,594	$2,573,933	$-70,097
2023	$322,522	$378,483	$2,463,769	$-55,961
2022	$434,917	$426,450	$2,539,764	$8,467
2022	$434,917	$412,217	$2,539,764	$22,700
2021	$345,497	$441,417	$2,558,582	$-95,920
2020	$319,227	$439,011	$2,587,183	$-119,784
2019	$294,601	$383,412	$2,723,468	$-88,811
2018	$343,410	$412,524	$2,718,557	$-69,114