THE PINES AT NARRAGANSETT HOUSING DEVELOPMENT FUND COMPANY INC (EIN 510462667) - Form 990 Financial Analysis & Trantor Score

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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

2003

Legal Domicile

Principal Officer

ANASTASIOS MARKOPOULOS

Tax Period

2023-01-01 to 2023-12-31

THE PINES AT NARRAGANSETT HOUSING DEVELOPMENT FUND COMPANY INC, founded in 2003, is a community nonprofit in the Housing & Shelter sector that reported $1.1M in total revenue in fiscal year 2023. Revenue grew 11% year-over-year, indicating healthy expansion. Expenses of $1.6M exceeded revenue, resulting in a 38% operating deficit.

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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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $1,131,531

Investment Income $331

Other Revenue $3,015

TOTAL REVENUE $1,134,877

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $1,327,322

Other Expenses $1,561,994

TOTAL EXPENSES $1,561,994

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,134,877	$1,025,027	+0.1%
Expenses	$1,561,994	$1,387,301	+0.1%
Net Income	$-427,117	$-362,274	+0.2%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RICHARD MERBAUM	BOARD MEMBER	1.0	Director	$0	$0	$0
JAMES J CAMPBELL	BOARD MEMBER	1.0	Director	$0	$0	$0
REV DR JOHN E CARRINGTON	BOARD MEMBER	1.0	Director	$0	$0	$0
REV KEVAN THOMAS HITCH	BOARD MEMBER	1.0	Director	$0	$0	$0
ROBERT W ELLIOTT	CHAIRMAN	1.0	Officer	$0	$0	$0
ANDREW SAMALIN	VICE CHAIRMAN/TREASURER	1.0	Officer	$0	$0	$0
MEG MCGARRITY	SECRETARY	1.0	Officer	$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	$1,134,877	$1,561,994	$1,628,649	$-427,117
2022	$1,025,027	$1,387,301	$1,409,894	$-362,274
2021	$873,822	$1,294,608	$1,108,354	$-420,786
2020	$922,074	$1,167,339	$976,808	$-245,265
2019	$1,009,116	$1,216,001	$1,017,853	$-206,885
2018	$1,098,202	$1,330,452	$954,842	$-232,250

THE PINES AT NARRAGANSETT HOUSING DEVELOPMENT FUND COMPANY INC