FOREST HILLS MHA HOUSING DEVELOPMENT FUND CORPORATION (EIN 823003388) - 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

DELORA CASTRO

Phone

6469635900

Tax Period

2023-01-01 to 2023-12-31

FOREST HILLS MHA HOUSING DEVELOPMENT FUND CORPORATION, founded in 2017, is a community nonprofit in the Housing & Shelter sector that reported $3.1M in total revenue in fiscal year 2023. Revenue decreased 9% compared to the prior year. Expenses of $3.8M exceeded revenue, resulting in a 23% operating deficit.

Mission

FOREST HILLS MHA HOUSING DEVELOPMENT FUND CORPORATION PROVIDES HOUSING FOR PERSONS AND FAMILIES OF LOW INCOME AT THE FOLLOWING PROPERTIES: 62-27 108TH STREET, 110-01 62ND DRIVE, 108-53 62ND DRIVE, AND 108-25 62ND DRIVE, ALL LOCATED IN FOREST HILLS, NEW YORK. FOREST HILLS MHA HDFC OWNS AND MANAGES THE COMMUNITY FACILITY SPACE OF THESE PROPERTIES.

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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 $2,864,461

Investment Income $99,236

Other Revenue $122,674

TOTAL REVENUE $3,086,371

Expense Breakdown

Grants Paid $0

Salaries & Benefits $872,666

Fundraising Expenses $0

Program Expenses $3,505,151

Other Expenses $2,934,998

TOTAL EXPENSES $3,807,664

Year-over-Year Comparison

	2023	2022	Change
Revenue	$3,086,371	$3,387,027	-0.1%
Expenses	$3,807,664	$4,316,658	-0.1%
Net Income	$-721,293	$-929,631	-0.2%

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

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
ALFRED ARROYO	PRESIDENT	1.00	Officer Director	$0	$0	$0
JOANNA MENDELSOHN	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
SUZANNE HEIT	TREASURER	1.00	Officer Director	$0	$0	$0
JUDITH MITCHELL	ASSISTANT TREASURER	1.00	Officer Director	$0	$0	$0
DELORA CASTRO	SECRETARY	1.00	Officer Director	$0	$0	$0
ALICIA PEREIRA	ASSISTANT SECRETARY	1.00	Officer Director	$0	$0	$0
JANELLE BURGESS	BOARD MEMBER	1.00	Director	$0	$0	$0
DENISE GUZMAN	BOARD MEMBER	1.00	Director	$0	$0	$0
MARILYN OZUNA	BOARD MEMBER, THRU 09/2023	1.00	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
2024	No data	No data	No data	No data
2023	$3,388,250	$4,468,674	$19,189,355	$-1,080,424
2023	$3,086,371	$3,807,664	$24,159,299	$-721,293
2022	$3,387,027	$4,316,658	$19,418,694	$-929,631
2022	$3,328,132	$4,704,670	$19,149,788	$-1,376,538
2021	$3,183,501	$3,611,443	$20,875,979	$-427,942
2020	$3,676,818	$3,554,469	$20,862,174	$122,349

FOREST HILLS MHA HOUSING DEVELOPMENT FUND CORPORATION