Homestead Development Corporation (EIN 850866443) - Form 990 Financial Analysis & Trantor Score

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

2020

Legal Domicile

Principal Officer

Stephen Sama

Phone

5182657278

Tax Period

2023-01-01 to 2023-12-31

Homestead Development Corporation, founded in 2020, is a small nonprofit in the Housing & Shelter sector that reported $930K in total revenue in fiscal year 2023. Revenue decreased 6% compared to the prior year. The organization ran a surplus of $160K, a strong 17% operating margin.

Mission

To construct affordable energy efficient housing for purchase by essential workers in the Village of Lake Placid, New York and the town of North Elba, New York in order to preserve a community lifestyle in an otherwise transient environment.

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $269,000

Program Service Revenue $660,000

Investment Income $1,076

Other Revenue $0

TOTAL REVENUE $930,076

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $760,735

Other Expenses $770,077

TOTAL EXPENSES $770,077

Year-over-Year Comparison

	2023	2022	Change
Revenue	$930,076	$992,002	-0.1%
Expenses	$770,077	$703,551	+0.1%
Net Income	$159,999	$288,451	-0.4%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Stephen Sama	President	5.00	Officer Director	$0	$0	$0
John B Huttlinger jr	Treasurer	3.00	Officer Director	$0	$0	$0
Whit Bissell	Vice President	1.00	Officer Director	$0	$0	$0
Jamie Rogers	Secretary	3.00	Officer Director	$0	$0	$0
Maja Giambalvo	Trustee	1.00	Director	$0	$0	$0
Emily Kilburn Politi	Trustee	3.00	Director	$0	$0	$0
Timothy Seymour	Trustee	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	$930,076	$770,077	$3,558,992	$159,999
2022	$1,352,002	$703,551	$1,623,820	$648,451
2022	$992,002	$703,551	$1,623,820	$288,451
2021	$243,185	$146,419	$278,626	$96,766
2021	$603,185	$12,369	$762,676	$590,816

Homestead Development Corporation