HANYC 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

2019

Legal Domicile

Principal Officer

Vijay Dandapani

Phone

2127546700

Tax Period

2023-01-01 to 2023-12-31

HANYC FOUNDATION INC, founded in 2019, is a community nonprofit in the Public Safety sector that reported $1.6M in total revenue in fiscal year 2023. Revenue surged 315% from the prior year, signaling strong growth momentum. The organization ran a surplus of $932K, a strong 58% operating margin.

Mission

The HANYC Foundation, Inc. (the Foundation) was organized on January 22, 2019 by the directors of the Hotel Association of New York City, Inc. (the Association) and is a non profit organization exempt from Federal income tax under Section 501(c)(3) of the Internal Revenue Code. The mission of the Foundation is to leverage the talents and resources of all the Associations member hotels and partners in the greater New York City market to focus the philanthropic outreach efforts toward education and crisis relief within the community. To this end the Foundation provides scholarships for students pursuing an associates or bachelors degree in hotel management, human trafficking training for Association members and their staff and hotel stays to individuals and families during unanticipated hardship and crisis.

Program Service Accomplishments

Program 1

Expenses: $479,379 Revenue: $1,057,000

On December 21, 2022, the Foundation entered into an agreement (the Agreement) with the City of New York through its Department of Homeless Services (DHS) to act as a third-party administrator to...

On December 21, 2022, the Foundation entered into an agreement (the Agreement) with the City of New York through its Department of Homeless Services (DHS) to act as a third-party administrator to assist DHS with booking, managing, tracking, Reporting, and invoicing for hotels service for the emergency procurement of shelter services needed to accommodate the influx of persons who are seeking asylum (Asylum Seekers) in the New York City area.In accordance with the Agreement, the Foundation earns administrative fees of $20,000 per month for up to 20 participating hotels plus $1,000 per month for each participating hotel it administers in excess of 20. For the years ended December 31, 2023 and 2022, the Foundation earned $1,057,000 and $100,000, respectively.

Program 2

Expenses: $122,856 Revenue: $270,000

On July 9, 2023, the Foundation entered into an agreement (the Voucher Agreement) with the City of New York through its Department of Housing and Preservation (DHP) to act as a third-party...

On July 9, 2023, the Foundation entered into an agreement (the Voucher Agreement) with the City of New York through its Department of Housing and Preservation (DHP) to act as a third-party administrator to assist DHP with development, information technology support, and administration support of an online platform to reserve individual hotel rooms; booking hotel rooms, managing, tracking, reporting, and invoicing for hotels service for the temporary housing for the Asylum Seekers.In accordance with the Voucher Agreement, the Foundation earns administrative fees of $45,000 per month for up to 30,000 hotel rooms. For the year ended December 31, 2023 the Foundation earned $270,000.

Program 3

Scholarships granted - The Foundation provides scholarships for students pursuing an associates or bachelorsdegree in hotel management, human trafficking training for Association members and their...

Scholarships granted - The Foundation provides scholarships for students pursuing an associates or bachelorsdegree in hotel management, human trafficking training for Association members and their staff and hotel stays to individuals and families during unanticipated hardship and crisis.

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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 $93,364

Program Service Revenue $1,327,000

Investment Income $3,530

Other Revenue $175,730

TOTAL REVENUE $1,599,624

Expense Breakdown

Grants Paid $50,917

Salaries & Benefits $148,295

Fundraising Expenses $0

Program Expenses $602,235

Other Expenses $468,077

TOTAL EXPENSES $667,289

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,599,624	$385,292	+3.2%
Expenses	$667,289	$136,118	+3.9%
Net Income	$932,335	$249,174	+2.7%

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

$703,956

Total Directors