MIAMI BEACH SENIOR CITIZENS HSG DEVELOPMENT CORPORATION INC

EIN: 591894621 501(c)(3) Housing & Shelter

PLANTATION, FL

Total Revenue
$823,105
Total Expenses
$6,500,000
Total Assets
$25,669,307
Net Assets
$25,668,965
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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
1977
Legal Domicile
FL
Principal Officer
MELANIE RIBEIRO
Phone
9548359200
Tax Period
2024-07-01 to 2025-06-30

MIAMI BEACH SENIOR CITIZENS HSG DEVELOPMENT CORPORATION INC, founded in 1977, is a small nonprofit in the Housing & Shelter sector that reported $823K in total revenue in fiscal year 2024. Expenses of $6.5M exceeded revenue, resulting in a 690% operating deficit.

Mission

OPERATION OF LOW INCOME HOUSING FOR THE ELDERLY AND HANDICAPPED, REGULATED AND ASSISTED BY THE DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT.

Program Service Accomplishments

Program 1
Expenses: $6,500,000

OPERATION OF LOW INCOME HOUSING FOR THE ELDERLY AND HANDICAPPED, REGULATED AND ASSISTED BY THE DEPARTMENT OF HOUSING AND URBAN 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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $0
Investment Income $823,105
Other Revenue $0
TOTAL REVENUE $823,105

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $6,500,000
Other Expenses $6,500,000
TOTAL EXPENSES $6,500,000

Year-over-Year Comparison

2024 2023 Change
Revenue $823,105 $856,199 0.0%
Expenses $6,500,000 N/A N/A
Net Income $-5,676,895 $856,199 -7.6%
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
7
Independent Members
7
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
5
$521,004
Total Directors
7
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MELANIE RIBEIRO DIRECTOR 0.70
Officer
$0 $75,384 $521,004
GLORIA CAMPOS DIRECTOR 0.10
Director
$0 $0 $0
MARIA CORDONE SECRETARY 0.30
Officer Director
$0 $0 $0
LISA DAVIS DIRECTOR 0.10
Director
$0 $0 $0
TONY FRANSETTA VICE PRESIDE 0.10
Officer Director
$0 $0 $0
EILEEN HIGGINS DIRECTOR 0.10
Director
$0 $0 $0
ERICA SCHMELZER TREASURER 0.10
Officer Director
$0 $0 $0
CHRISTOPHER SHELTON PRESIDENT 0.50
Officer 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 $823,105 $6,500,000 $25,669,307 $-5,676,895
2024 $856,199 No data $31,346,202 No data
2023 $833,082 $358,262 $30,490,004 $474,820
2022 $810,772 $1,937 $30,015,172 $808,835
2021 $855,400 $2,879 $29,206,006 $852,521
2020 $32,156,672 $6,623,854 $28,431,577 $25,532,818
2019 $3,557,412 $3,010,258 $3,518,394 $547,154
2018 $3,470,805 $2,922,923 $3,556,922 $547,882
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