FAC PRESERVATION HOUSING DEVELOPMENT FUND CORPORATION

EIN: 470919280 Housing & Shelter

BROOKLYN, NY

Total Revenue
$426,785
Total Expenses
$569,248
Total Assets
$3,448,424
Net Assets
$-1,940,771
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2003
Legal Domicile
NY
Phone
7182372017
Tax Period
2022-07-01 to 2023-06-30

FAC PRESERVATION HOUSING DEVELOPMENT FUND CORPORATION, founded in 2003, is a small nonprofit in the Housing & Shelter sector that reported $427K in total revenue in fiscal year 2022. Revenue decreased 10% compared to the prior year. Expenses of $569K exceeded revenue, resulting in a 33% operating deficit.

Mission

THE MISSION OF THE ORGANIZATION IS TO OWN AND OPERATE FIVE APARTMENT BUILDINGS TO QUALIFIED LOW INCOME INDIVIDUALS IN THE BROOKLYN, NEW YORK AREA.

Program Service Accomplishments

Program 1
Expenses: $462,785

THE ORGANIZATION'S APARTMENT BUILDINGS CONTAIN 26 APARTMENTS AND WERE OCCUPPIED DURING THE YEAR.

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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 (2022)

Revenue Breakdown

Contributions & Grants $48,000
Program Service Revenue $372,712
Investment Income $119
Other Revenue $5,954
TOTAL REVENUE $426,785

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $462,785
Other Expenses $569,248
TOTAL EXPENSES $569,248

Year-over-Year Comparison

2022 2021 Change
Revenue $426,785 $474,019 -0.1%
Expenses $569,248 $568,819 +0.0%
Net Income $-142,463 $-94,800 +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

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Liquidity & Cash Position

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Governance

Voting Members
3
Independent Members
3
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
3
$412,834
Total Directors
3
$412,834
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MICHELLE DE LA UZ Secretary 0.50
Officer Director
$0 $10,691 $243,845
JAY MARCUS Treasurer 0.50
Officer Director
$0 $35,101 $168,989
DANY CUNNINGHAM President 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
2024 No data No data No data No data
2023 $426,785 $569,248 $3,448,424 $-142,463
2022 $474,019 $568,819 $3,463,972 $-94,800
2021 $384,835 $619,310 $3,616,045 $-234,475
2020 $416,090 $614,941 $3,833,496 $-198,851
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