The Waterfront Project Inc

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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

2013

Legal Domicile

Principal Officer

Victoria Hernandez

Phone

5512567578

Tax Period

2024-07-01 to 2025-06-30

The Waterfront Project Inc, founded in 2013, is a community nonprofit in the Civil Rights & Advocacy sector that reported $2.1M in total revenue in fiscal year 2024. Revenue fell 30% from the prior year — a significant decline worth monitoring. Expenses of $2.3M exceeded revenue, resulting in a 12% operating deficit.

Mission

Founded in 2013, The Waterfront Project, Inc. (WFP) is a legal center that provides free civil legal representation, assistance, and advocacy to New Jersey residents who are asset-limited, income-constrained, homeless, or disenfranchised. WFP serves as a critical resource for Hudson County's and Northern New Jersey's most vulnerable families - defending tenants against unlawful evictions, preventing homelessness, and ensuring access to safe, stable housing.

Program Service Accomplishments

Program 1

Expenses: $1,904,255

EVICTION PREVENTION - OUR EVICTION PREVENTION PROGRAM IS A CORNERSTONE OF OUR MISSION TO PREVENT HOMELESSNESS AND PROTECT THE RIGHTS OF TENANTS. WITH THE THREAT OF EVICTION LOOMING OVER MANY FAMILIES IN NORTHERN NEW JERSEY, OUR DEDICATED TEAM OF HOUSING COUNSELORS AND ATTORNEYS WORK TIRELESSLY TO ENSURE THAT NO ONE IS UNJUSTLY DISPLACED FROM THEIR HOME. LAST YEAR, WE PROVIDED CRUCIAL LEGAL AND HOUSING COUNSELING ASSISTANCE TO 3,885 INDIVIDUALS FACING EVICTION IN NORTHERN NEW JERSEY. OF THESE CASES, 41% OF TENANTS REQUIRED LEGAL REPRESENTATION.

Program 2

Expenses: $217,393

FORECLOSURE PREVENTION - OUR FORECLOSURE PREVENTION PROGRAM OFFERS CRUCIAL SUPPORT TO THOSE FACING THE DEVASTATING POSSIBILITY OF LOSING THEIR HOMES DUE TO FINANCIAL HARDSHIP. IN THE PAST YEAR, THE WATERFRONT PROJECT HAS PROVIDED COMPREHENSIVE FORECLOSURE COUNSELING TO 585 HOUSHOLDS, EMPOWERING THEM TO NAVIGATE THE COMPLEXITIES OF FORECLOSURE PREVENTION. THROUGH OUR DEDICATED EFFORTS, WE HAVE HELPED 75% OF THOSE FAMILIES AVOID FORECLOSURE AND MAINTAIN THEIR HOMES, FOSTERING STABILITY AND SECURITY WITHIN OUR COMMUNITY.

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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 $2,056,037

Program Service Revenue $0

Investment Income $0

Other Revenue $687

TOTAL REVENUE $2,056,724

Expense Breakdown

Grants Paid $355,034

Salaries & Benefits $1,626,769

Fundraising Expenses $23,771

Program Expenses $2,121,648

Other Expenses $320,974

TOTAL EXPENSES $2,302,777

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,056,724	$2,926,811	-0.3%
Expenses	$2,302,777	$3,103,141	-0.3%
Net Income	$-246,053	$-176,330	+0.4%

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

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

$117,923

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CAROL SAINTHILAIRE	EXECUTIVE DIRECTOR	40.0	Officer	$103,433	$14,490	$117,923
ISABEL CHOU	BOARD CHAIR	5.0	Officer Director	$0	$0	$0
FRANCESCA LARSON	VICE CHAIR	5.0	Officer Director	$0	$0	$0
KATHERINE BRENNAN	TREASURER	5.0	Officer Director	$0	$0	$0
LUCAS SWANEPOEL	BOARD SECRETARY	5.0	Officer Director	$0	$0	$0
ALYSSA DOMENECH	TRUSTEE	5.0	Director	$0	$0	$0
ERIN LAW	TRUSTEE	5.0	Director	$0	$0	$0
LORENA LOAYZA	TRUSTEE	5.0	Director	$0	$0	$0
WILLIAM OPEL	TRUSTEE	5.0	Director	$0	$0	$0
JENNIFER SLOTWINSKI	TRUSTEE	5.0	Director	$0	$0	$0
KESHAV PODDAR	TRUSTEE	5.0	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	$2,056,724	$2,302,777	$368,831	$-246,053
2024	$2,926,811	$3,103,141	$797,281	$-176,330
2023	$2,133,304	$2,017,631	$820,007	$115,673
2021	$862,392	$511,145	$608,238	$351,247
2020	$471,784	$406,914	$166,435	$64,870
2019	$368,282	$323,782	$101,565	$44,500