FREEPORT COMMUNITY DEVELOPMENT INC (EIN 821238754) - 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

2017

Legal Domicile

Principal Officer

JOSEPH CATTANO

Phone

5163753907

Tax Period

2023-11-01 to 2024-10-31

FREEPORT COMMUNITY DEVELOPMENT INC, founded in 2017, is a micro nonprofit in the Housing & Shelter sector that reported $79K in total revenue in fiscal year 2023. Revenue grew 13% year-over-year, indicating healthy expansion. Expenses of $97K exceeded revenue, resulting in a 22% operating deficit.

Mission

SEE PAGE 2, FORM 990, PART III, LINES 1 AND 4A

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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 $79,000

Investment Income $0

Other Revenue $0

TOTAL REVENUE $79,000

Expense Breakdown

Grants Paid $26,425

Salaries & Benefits $15,000

Fundraising Expenses $0

Program Expenses $96,761

Other Expenses $55,336

TOTAL EXPENSES $96,761

Year-over-Year Comparison

	2023	2022	Change
Revenue	$79,000	$70,000	+0.1%
Expenses	$96,761	$183,864	-0.5%
Net Income	$-17,761	$-113,864	-0.8%

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

$7,800

Total Directors

$15,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOSEPH CATTANO	PRESIDENT/DIRECTOR	1.00	Officer Director	$3,000	$0	$3,000
DAVID E JONES	VICE PRESIDENT/DIRECTOR	1.00	Officer Director	$2,400	$0	$2,400
ROBERT BATTELLI	DIRECTOR	1.00	Director	$2,400	$0	$2,400
MICHAEL SMITH	DIRECTOR	1.00	Director	$2,400	$0	$2,400
THOMAS CUSANELLI	DIRECTOR	1.00	Director	$2,400	$0	$2,400
JEFFREY GABEL	TREASURER/DIRECTOR	1.00	Officer Director	$2,400	$0	$2,400
JOADY B FEINER ESQ	SECRETARY (PRO-TEM)	1.00	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	$79,000	$96,761	$352,979	$-17,761
2023	$70,000	$183,864	$370,740	$-113,864
2022	$75,000	$155,602	$484,604	$-80,602
2021	$126,845	$124,604	$565,206	$2,241
2020	$673,089	$115,322	$562,965	$557,767

FREEPORT COMMUNITY DEVELOPMENT INC