VANMEW HOUSING DEVELOPMENT FUND CORPORATION

EIN: 800819115 501(c)(3) Housing & Shelter

BROOKLYN, NY

Total Revenue
$320,460
Total Expenses
$405,192
Total Assets
$1,466,900
Net Assets
$-1,034,384
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2012
Legal Domicile
NY
Principal Officer
VAL HENRY
Phone
2126655500
Tax Period
2023-01-01 to 2023-12-31

VANMEW HOUSING DEVELOPMENT FUND CORPORATION, founded in 2012, is a small nonprofit in the Housing & Shelter sector that reported $320K in total revenue in fiscal year 2023. Revenue grew 10% year-over-year, indicating healthy expansion. Expenses of $405K exceeded revenue, resulting in a 26% operating deficit.

Mission

VANMEW HOUSING DEVELOPMENTFUND CORPORATION ("THE CORPORATION")HAS ENTERED INTO REGULATORY AND FINANCING AGREEMENTS WITH THE NEW YORK STATE HOUSING FINANCE AGENCY AND THE NEW YORK CITY DEPARTMENT OF HOUSING PRESERVATION DEVELOPMENT (HPD)TO ACQUIRE APARTMENT BUILDING FOR PURPOSES OF OPERATING AND MAINTAINING RENTAL PROPERTIES AT APPROVED RATES FOR PERSONS OF LOW- INCOME.

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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 (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $316,743
Investment Income $2,917
Other Revenue $800
TOTAL REVENUE $320,460

Expense Breakdown

Grants Paid $0
Salaries & Benefits $67,953
Fundraising Expenses $0
Program Expenses $329,488
Other Expenses $337,239
TOTAL EXPENSES $405,192

Year-over-Year Comparison

2023 2022 Change
Revenue $320,460 $291,678 +0.1%
Expenses $405,192 $416,570 0.0%
Net Income $-84,732 $-124,892 -0.3%
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

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Liquidity & Cash Position

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Governance

Voting Members
12
Independent Members
12
Employees
N/A
Volunteers
12

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
4
$190,738
Total Directors
12
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
VAL HENRY EXECUTIVE DI 1.00
Officer
$0 $7,170 $190,738
CHARLES THOMAS CHAIRMAN 0.25
Officer Director
$0 $0 $0
ALECIA D MASON VICE CHAIRMA 0.25
Officer Director
$0 $0 $0
CORY SARGEANT TREASURER PR 0.25
Officer Director
$0 $0 $0
MICHAEL BAILEY ESQ MEMBER 0.25
Director
$0 $0 $0
STEVE CROMITY MEMBER 0.25
Director
$0 $0 $0
C ALLYSON FRANKLIN ESQ MEMBER 0.25
Director
$0 $0 $0
SONIA CLARKE MEMBER 0.25
Director
$0 $0 $0
MILDRED SMITH MEMBER 0.25
Director
$0 $0 $0
VICTORIA POWE-BITTLE MEMBER 0.25
Director
$0 $0 $0
VON JOSEPH MEMBER 0.25
Director
$0 $0 $0
KENNETH LAIDLOW MEMBER 0.25
Director
$0 $0 $0
KENNETH L PYLE SR MEMBER 0.25
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
2024 No data No data No data No data
2023 $320,460 $405,192 $1,466,900 $-84,732
2022 $291,678 $416,570 $1,530,825 $-124,892
2021 $288,273 $373,402 $1,224,313 $-85,129
2021 $288,273 $373,402 $1,224,313 $-85,129
2020 $285,955 $363,823 $1,259,005 $-77,868
2019 $299,374 $346,507 $1,312,633 $-47,133
2018 $304,238 $374,431 $1,376,522 $-70,193
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