FLATBUSH DEVELOPMENT CORPORATION

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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

1975

Legal Domicile

Principal Officer

ROBIN REDMOND

Phone

7188593800

Tax Period

2024-07-01 to 2025-06-30

FLATBUSH DEVELOPMENT CORPORATION, founded in 1975, is a community nonprofit in the Community Improvement sector that reported $5.1M in total revenue in fiscal year 2024.

Mission

FDC IS DEDICATED TO MEETING THE NEEDS OF A DIVERSE VIBRANT BROOKLYN. FDC IDENTIFIES RESPONDS TO THESE NEEDS BY BUILDING PARTNERSHIPS, CREATING PROGRAMS DEVELOPING CAMPAIGNS FOR ECONOMIC DEVELOPMENT, HOUSING, YOUTH, IMMIGRATION OTHER INITIATIVES THAT PROMOTE ENHANCED QUALITY OF LIFE, SAFETY, EQUITY PRESERVATION OF THEIR COMMUNITY.

Program Service Accomplishments

Program 1

Expenses: $2,626,040

YOUTH DEVELOPMENT ACTIVITIES INCLUDE AFTER SCHOOL AND EVENING EDUCATIONAL AND RECREATIONAL PROGRAMS DESIGNED TO DEVELOP YOUTH INTO PRODUCTIVE MEMBERS OF SOCIETY.

Program 2

Expenses: $1,611,926

HOUSING PRESERVATION ACTIVITIES INCLUDE PROVIDING ASSISTANCE TO INDIVIDUAL TENANTS, HOME OWNERS AND LANDLORDS ABOUT THEIR RIGHTS AND RESPONSIBILITIES, ABOUT HOW TO MAINTAIN AND PRESERVE THEIR HOMES...

Program 3

Expenses: $154,163

ECONOMIC DEVELOPMENT ACTIVITIES INCLUDE ASSISTANCE TO SMALL BUSINESS AND ATTRACTING NEW BUSINESSES TO THE LOCAL COMMERCIAL STRIP.

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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 $5,083,526

Program Service Revenue $0

Investment Income $0

Other Revenue $2,129

TOTAL REVENUE $5,085,655

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,351,634

Fundraising Expenses $15,379

Program Expenses $4,446,324

Other Expenses $1,713,640

TOTAL EXPENSES $5,065,274

Year-over-Year Comparison

	2024	2023	Change
Revenue	$5,085,655	$5,005,854	+0.0%
Expenses	$5,065,274	$4,927,530	+0.0%
Net Income	$20,381	$78,324	-0.7%

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

Governance

Voting Members

Independent Members

Employees

150

Volunteers

260

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

$151,439

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ROBIN REDMOND	EXECUTIVE DIRECTOR	040.00	Officer	$117,404	$34,035	$151,439
SALVATORE LENTINI	PRESIDENT	002.50	Officer Director	$0	$0	$0
JAVIER SAEZ	SECRETARY	001.50	Officer Director	$0	$0	$0
EDUARDO CROSA	VICE PRESIDENT	001.00	Officer Director	$0	$0	$0
ERIC ZIMILES	TREASURER	001.50	Officer Director	$0	$0	$0
SANDRA HARRIS	BOARD MEMBER	000.50	Director	$0	$0	$0
LOIS JACKSON	BOARD MEMBER	000.50	Director	$0	$0	$0
EMILY SHAW	BOARD MEMBER	000.50	Director	$0	$0	$0
JOEL STICKNEY	BOARD MEMBER	000.50	Director	$0	$0	$0
JOPHRANE LIGONDE	BOARD MEMBER	000.50	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	$5,085,655	$5,065,274	$4,510,237	$20,381
2024	No data	No data	No data	No data
2023	$4,616,666	$4,775,664	$2,378,001	$-158,998
2022	$3,907,106	$3,982,167	$2,604,374	$-75,061
2021	$3,995,581	$3,518,714	$2,354,911	$476,867
2020	$3,575,217	$3,483,660	$2,173,340	$91,557