Bay House Housing Development Fund Corporation

EIN: 475248224 501(c)(3) Housing & Shelter

Yonkers, NY

Total Revenue
$184,243
Total Expenses
$281,064
Total Assets
$4,006,581
Net Assets
$3,984,610
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Financial Trends

Organization Details

Formation Year
2014
Legal Domicile
NY
Principal Officer
RICHARD NIGHTINGALE
Phone
9143452800
Tax Period
2024-01-01 to 2024-12-31

Bay House Housing Development Fund Corporation, founded in 2014, is a small nonprofit in the Housing & Shelter sector that reported $184K in total revenue in fiscal year 2024. Expenses of $281K exceeded revenue, resulting in a 53% operating deficit.

Mission

TO DEVELOP 157 BRUCE AVE IN YONKERS NY FOR THE PURPOSE OF CREATING THE HOUSING FOR LOW INCOME INDIVIDUALS AND FAMILIES ON REAL PROPERTY TO BE OWNED BY THE CORPORATION. (SEE SCHEDULE O FOR DETAILS).

Program Service Accomplishments

Program 1
Expenses: $269,854 Revenue: $88,800

TO DEVELOP 157 BRUCE AVE IN YONKERS NY FOR THE PURPOSE OF CREATING THE HOUSING FOR LOW INCOME INDIVIDUALS AND FAMILIES ON REAL PROPERTY TO BE OWNED BY THE CORPORATION. BAY HOUSE HOUSING DEVELOPMENT...

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TO DEVELOP 157 BRUCE AVE IN YONKERS NY FOR THE PURPOSE OF CREATING THE HOUSING FOR LOW INCOME INDIVIDUALS AND FAMILIES ON REAL PROPERTY TO BE OWNED BY THE CORPORATION. BAY HOUSE HOUSING DEVELOPMENT FUND WILL PROVIDE TRANSITIONAL LIVING HOUSING FOR YOUNG ADULTS AGES 18-24. THE ORGANIZATION IS ALSO WORKING WITH WESTHAB, WHO IS PARTNERING WITH CHILDREN'S VILLAGE TO PROVIDE SUPPORT SERVICES. (SEE SCHEDULE O FOR DETAILS).

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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 $86,093
Program Service Revenue $88,800
Investment Income $9,350
Other Revenue $0
TOTAL REVENUE $184,243

Expense Breakdown

Grants Paid $0
Salaries & Benefits $85,863
Fundraising Expenses $0
Program Expenses $269,854
Other Expenses $195,201
TOTAL EXPENSES $281,064

Year-over-Year Comparison

2024 2023 Change
Revenue $184,243 $179,420 +0.0%
Expenses $281,064 $254,117 +0.1%
Net Income $-96,821 $-74,697 +0.3%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Governance

Voting Members
3
Independent Members
2
Employees
N/A
Volunteers
2

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
2
$534,607
Total Directors
3
$534,607
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
RICHARD NIGHTINGALE secretary/treasurer 1.0
Officer Director
$0 $53,979 $534,607
JESSE KRASNOW president 1.0
Officer Director
$0 $0 $0
JEFFERSON BOYCE DIRECTOR 1.0
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
2024 $184,243 $281,064 $4,006,581 $-96,821
2023 $179,420 $254,117 $4,099,843 $-74,697
2022 $163,160 $249,871 $4,176,448 $-86,711
2021 $153,047 $219,485 $4,249,835 $-66,438
2020 $143,721 $211,041 $4,316,580 $-67,320
2019 $145,474 $207,116 $4,381,725 $-61,642
2018 $143,843 $207,123 $4,448,053 $-63,280
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