479 COURTLANDT AVENUE HOUSING DEVELOPMENT FUND CORPORATION

EIN: 461021430 Housing & Shelter

BRONX, NY

Total Revenue
$357,961
Total Expenses
$453,386
Total Assets
$2,065,297
Net Assets
$-248,699
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2013
Legal Domicile
NY
Principal Officer
SALVATORE GIGANTE
Phone
3477262547
Tax Period
2023-01-01 to 2023-12-31

479 COURTLANDT AVENUE HOUSING DEVELOPMENT FUND CORPORATION, founded in 2013, is a small nonprofit in the Housing & Shelter sector that reported $358K in total revenue in fiscal year 2023. Expenses of $453K exceeded revenue, resulting in a 27% operating deficit.

Mission

THE COMPANY OWNS AND OPERATES LOW INCOME HOUSING IN THE SOUTH BRONX.

Program Service Accomplishments

Program 1
Expenses: $412,501 Revenue: $357,961

THE COMPANY CONSTRUCTED LOW INCOME HOUSING IN THE SOUTH BRONX FINANCED WITH FUNDS FROM NYC.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $353,500
Investment Income $4,461
Other Revenue $0
TOTAL REVENUE $357,961

Expense Breakdown

Grants Paid $0
Salaries & Benefits $52,591
Fundraising Expenses $0
Program Expenses $412,501
Other Expenses $400,795
TOTAL EXPENSES $453,386

Year-over-Year Comparison

2023 2022 Change
Revenue $357,961 $365,986 0.0%
Expenses $453,386 $387,733 +0.2%
Net Income $-95,425 $-21,747 +3.4%
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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Governance

Voting Members
3
Independent Members
2
Employees
4
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
3
$251,995
Total Directors
3
$251,995
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ENRICO BOCCIA CHAIR 0.05
Officer Director
$0 $0 $0
EVELYN VELAZQUEZ TREASURER/SE 0.05
Officer Director
$0 $0 $0
SALVATORE GIGANTE VICE PRESIDE 0.30
Officer Director
$0 $0 $251,995
SONAL SHAH CONTROLLER N/A
Highest
$0 $0 $139,248
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 $357,961 $453,386 $2,065,297 $-95,425
2022 $365,986 $387,733 $2,058,606 $-21,747
2021 $407,298 $425,377 $2,079,159 $-18,079
2020 $393,923 $403,044 $2,111,700 $-9,121
2019 $415,279 $397,467 $2,069,200 $17,812
2018 $397,695 $392,431 $2,062,297 $5,264
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