MIAMI BEACH SENIOR CITIZENS HSG DEVELOPMENT CORPORATION INC (EIN 591894621) - 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

1977

Legal Domicile

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.

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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 $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

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

$521,004

Total Directors

Key Employees

Highest Compensated

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

MIAMI BEACH SENIOR CITIZENS HSG DEVELOPMENT CORPORATION INC