THE GELT FOUNDATION 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

2017

Legal Domicile

Principal Officer

KEITH WASSERMAN

Phone

8189381687

Tax Period

2023-01-01 to 2023-12-31

THE GELT FOUNDATION INC, founded in 2017, is a small nonprofit that reported $121K in total revenue in fiscal year 2023. Revenue fell 69% from the prior year — a significant decline worth monitoring. Expenses of $664K exceeded revenue, resulting in a 450% operating deficit.

Mission

TO BE A TEMPORARY BRIDGE THAT HELPS RESIDENTS STAY IN THEIR APARTMENTS DURING AN UNEXPECTED FINANCIAL EMERGENCY THAT IS OUTSIDE OF THEIR CONTROL. WE PROVIDE QUALIFIED RESIDENTS HOUSING STABILITY BY PROVIDING RENTAL ASSISTANCE AND FINANCIAL EDUCATION DESIGNED TO HELP THEM BETTER MANAGE FINANCES GOING FORWARD. OUR GOAL IS TO HELP CLIENTS AVOID EVICTION AND/OR HOMELESSNESS AND TEACH THEM THE BASIC SKILLS IN FINANCIAL MANAGEMENT NOT TAUGHT IN OUR EDUCATION SYSTEM.

Program Service Accomplishments

Program 1

Expenses: $369,563 Revenue: $0

RENTAL ASSISTANCE IN THE FORM OF GRANTS TO THE PROPERTY/LANDLORD ON BEHALF OF INDIVIDUALS FACING EVICTIONS.

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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 $120,794

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $120,794

Expense Breakdown

Grants Paid $364,471

Salaries & Benefits $221,782

Fundraising Expenses $16,234

Program Expenses $369,563

Other Expenses $77,873

TOTAL EXPENSES $664,126

Year-over-Year Comparison

	2023	2022	Change
Revenue	$120,794	$390,288	-0.7%
Expenses	$664,126	$514,935	+0.3%
Net Income	$-543,332	$-124,647	+3.4%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KEITH WASSERMAN	PRESIDENT	8.00	Officer Director	$0	$0	$0
THERESE OSWALD	EXECUTIVE DIRECTOR	40.00	Officer Director	$0	$0	$0
MYA TO	TREASURER	2.00	Officer Director	$0	$0	$0
DAMIAN LANGERE	DIRECTOR	8.00	Director	$0	$0	$0
MELISSA WASSERMAN	DIRECTOR	8.00	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
2023	$120,794	$664,126	No data	$-543,332
2022	$390,288	$514,935	$543,332	$-124,647
2021	$520,373	$411,258	$667,979	$109,115
2020	$603,887	$221,808	$558,864	$382,079