VICTORY HOUSING INC

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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

1979

Legal Domicile

Principal Officer

LEILA A FINUCANE

Phone

3014936000

Tax Period

2022-07-01 to 2023-06-30

VICTORY HOUSING INC, founded in 1979, is a community nonprofit in the Housing & Shelter sector that reported $3.7M in total revenue in fiscal year 2022. Revenue fell 63% from the prior year — a significant decline worth monitoring. Expenses of $5.6M exceeded revenue, resulting in a 52% operating deficit.

Mission

TO PROVIDE AFFORDABLE HOUSING AND RELATED SERVICES TO LOW- AND MODERATE-INCOME SENIOR CITIZENS AND FAMILIES.

Program Service Accomplishments

Program 1

Expenses: $5,013,214 Revenue: $1,690,932

ASSET MANAGEMENT OF AFFORDABLE HOUSING PROJECTS & AFFORDABLE HOUSING PROJECT DEVELOPMENT

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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 (2022)

Revenue Breakdown

Contributions & Grants $881,918

Program Service Revenue $1,685,367

Investment Income $624,505

Other Revenue $518,717

TOTAL REVENUE $3,710,507

Expense Breakdown

Grants Paid $150,800

Salaries & Benefits $2,653,964

Fundraising Expenses $0

Program Expenses $5,013,214

Other Expenses $2,827,057

TOTAL EXPENSES $5,631,821

Year-over-Year Comparison

	2022	2021	Change
Revenue	$3,710,507	$9,895,856	-0.6%
Expenses	$5,631,821	$6,241,056	-0.1%
Net Income	$-1,921,314	$3,654,800	-1.5%

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

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

246

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

$831,774

Total Directors

Key Employees

$269,907

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DONALD C TOMASSO	DIRECTOR	1.00	Director	$0	$0	$0
DONNA GRIGSBY	DIRECTOR	1.00	Director	$0	$0	$0
JANE BELFORD	DIRECTOR	1.00	Director	$0	$0	$0
JAY POPE	DIRECTOR (AS OF 1/1/23)	1.00	Director	$0	$0	$0
JULIE SMITH	CHAIRMAN (AS OF 12/31/22)	1.00	Officer Director	$0	$0	$0
MAURICE PERRY	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL G GILL	DIRECTOR & CORPORATION TRE	1.00	Officer Director	$0	$0	$0
MSGR ANTONICELLI	DIRECTOR	1.00	Director	$0	$0	$0
PATRICK DUNNE	DIRECTOR	1.00	Director	$0	$0	$0
PHILIP DOWNEY	DIRECTOR	1.00	Director	$0	$0	$0
SHARON WILSON GENO	DIRECTOR	1.00	Director	$0	$0	$0
LEILA A FINUCANE	PRESIDENT & CEO	34.00	Officer	$389,466	$47,410	$436,876
MICHELLE M LIMERES	SENIOR VICE PRESIDENT, ACCOUNTING & ADMINISTRATION	34.00	Officer	$238,041	$40,020	$278,061
SARAH O'RIELLY	VICE PRESIDENT, FINANCE	34.00	Officer	$96,409	$20,428	$116,837
JEFFREY BLACKWELL	VP, REAL ESTATE DEVELOPMEN	34.00	Key Emp	$230,196	$39,711	$269,907
DANIEL LUKOMSKY	ASSET MANAGEMENT DIRECTOR	40.00	Highest	$123,054	$14,826	$137,880
ELISABETH ORCHARD	ASSISTED LIVING OPERATIONS DIRECTOR	34.00	Highest	$138,962	$25,086	$164,048
JACQUELINE R SMEDLEY	SENIOR VP, ASSISTED LIVING	34.00	Highest	$269,415	$32,393	$301,808
LORNA DESAULNIERS	WELLNESS NURSE	40.00	Highest	$123,240	$15,237	$138,477
EDWARD CRESKOFF	FORMER CORPORATE SECRETARY	34.00		$103,259	$11,825	$115,084

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	$3,710,507	$5,631,821	$44,020,785	$-1,921,314
2023	$1,876,588	$1,983,274	$44,442,524	$-106,686
2022	$9,895,856	$6,241,056	$43,875,072	$3,654,800
2021	$5,434,326	$3,429,493	$39,333,544	$2,004,833
2020	$6,645,621	$2,728,761	$27,741,365	$3,916,860
2019	$3,699,145	$2,554,853	$22,798,578	$1,144,292
2018	$6,033,082	$3,207,129	$21,617,513	$2,825,953