KB25 HOUSING DEVELOPMENT FUND CORPORATION

EIN: 470976556 Housing & Shelter

NEW YORK, NY

Total Revenue
$1,327,715
Total Expenses
$1,894,679
Total Assets
$14,331,668
Net Assets
$14,172,307
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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
2014
Legal Domicile
NY
Principal Officer
ADAM WEINSTEIN
Phone
2122439090
Tax Period
2024-01-01 to 2024-12-31

KB25 HOUSING DEVELOPMENT FUND CORPORATION, founded in 2014, is a community nonprofit in the Housing & Shelter sector that reported $1.3M in total revenue in fiscal year 2024. Expenses of $1.9M exceeded revenue, resulting in a 43% operating deficit.

Mission

KB25 HOUSING DEVELOPMENT FUND CORPORATION WAS FORMED TO OWN AND OPERATE A RESIDENTIAL BUILDING FOR PERSONS OF LOW AND MODERATE INCOME.

Program Service Accomplishments

Program 1
Expenses: $988,376 Revenue: $1,326,522

KB25 HOUSING DEVELOPMENT FUND CORPORATION WAS FORMED TO OWN AND OPERATE A 56 UNIT RESIDENTIAL BUILDING AT 325 E. 25TH STREET IN THE BOROUGH OF MANHATTAN FOR PERSONS OF LOW AND MODERATE INCOME.

Program 2
Expenses: $765,000

GRANT TO PHIPPS HOUSES, AN AFFILIATE ORGANIZATION UNDER IRC 501(C)(3), TO BE USED ONLY FOR THE PURPOSE OF PROMOTING AFFORDABLE HOUSING.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $1,314,876
Investment Income $1,193
Other Revenue $11,646
TOTAL REVENUE $1,327,715

Expense Breakdown

Grants Paid $765,000
Salaries & Benefits $116,384
Fundraising Expenses $0
Program Expenses $1,753,376
Other Expenses $1,013,295
TOTAL EXPENSES $1,894,679

Year-over-Year Comparison

2024 2023 Change
Revenue $1,327,715 $1,345,394 0.0%
Expenses $1,894,679 $1,224,233 +0.5%
Net Income $-566,964 $121,161 -5.7%
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

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Governance

Voting Members
3
Independent Members
N/A
Employees
1
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
5
$2,557,761
Total Directors
3
$1,865,730
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ADAM WEINSTEIN PRESIDENT/CEO 1.00
Officer Director
$0 $180,441 $1,043,975
JAMES ROBERT PIGOTT JR VICE PRESIDENT AND SECRETA 1.00
Officer Director
$0 $87,569 $454,550
LUKEMAN OGUNYINKA TREASURER 1.00
Officer Director
$0 $9,964 $367,205
MATTHEW KELLY OUTGOING VICE PRESIDENT 1.00
Officer
$0 $70,079 $311,460
MICHAEL WADMAN VICE PRESIDENT 1.00
Officer
$0 $59,437 $380,571
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 $1,327,715 $1,894,679 $14,331,668 $-566,964
2023 $1,345,394 $1,224,233 $15,017,009 $121,161
2022 $1,157,387 $1,929,669 $14,959,638 $-772,282
2022 $1,157,387 $1,929,669 $14,959,638 $-772,282
2021 $1,060,355 $1,418,629 $15,497,020 $-358,274
2020 $1,087,699 $1,316,035 $15,872,026 $-228,336
2019 $1,178,295 $1,297,900 $16,297,846 $-119,605
2018 $945,227 $1,615,911 $16,551,721 $-670,684
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