1228 WASHINGTON AVENUE HOUSING DEVELOPMENT FUND COMPANY INC

EIN: 853047085 501(c)(3) Housing & Shelter

NEW YORK, NY

Total Revenue
$1,254,771
Total Expenses
$1,875,976
Total Assets
$12,561,655
Net Assets
$-1,662,367
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2020
Legal Domicile
NY
Principal Officer
CYNTHIA WAINWRIGHT
Phone
2126633000
Tax Period
2022-07-01 to 2023-06-30

1228 WASHINGTON AVENUE HOUSING DEVELOPMENT FUND COMPANY INC, founded in 2020, is a community nonprofit in the Housing & Shelter sector that reported $1.3M in total revenue in fiscal year 2022. Expenses of $1.9M exceeded revenue, resulting in a 50% operating deficit.

Mission

TO PROVIDE AFFORDABLE HOUSING FOR THE CHRONICALLY MENTALLY DISABLED UNDER SECTION 811 OF THE NATIONAL AFFORDABLE HOUSING ACT.

Program Service Accomplishments

Program 1
Expenses: $1,801,709 Revenue: $860,740

1228 WASHINGTON AVENUE HOUSING DEVELOPMENT FUND COMPANY, INC. (THE "ENTITY") IS A NEW YORK CORPORATION ORGANIZED IN AUGUST 2020 FOR THE PURPOSE OF ACQUIRING, DEVELOPING AND OPERATING HOUSING AND...

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1228 WASHINGTON AVENUE HOUSING DEVELOPMENT FUND COMPANY, INC. (THE "ENTITY") IS A NEW YORK CORPORATION ORGANIZED IN AUGUST 2020 FOR THE PURPOSE OF ACQUIRING, DEVELOPING AND OPERATING HOUSING AND RELATED FACILITIES LOCATED IN NEW YORK, NEW YORK FOR PERSONS WITH DISABILITIES. THE ENTITY RECEIVES ASSISTANCE UNDER PROVISIONS OF SECTION 811 OF THE NATIONAL AFFORDABLE HOUSING ACT. SUCH ENTITIES ARE REGULATED BY THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT ("HUD") AS TO RENT CHARGES AND OPERATING METHODS.

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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%)

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Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $389,293
Program Service Revenue $860,740
Investment Income $9
Other Revenue $4,729
TOTAL REVENUE $1,254,771

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $1,801,709
Other Expenses $1,875,976
TOTAL EXPENSES $1,875,976

Year-over-Year Comparison

2022 2021 Change
Revenue $1,254,771 $1,252,456 +0.0%
Expenses $1,875,976 $1,656,231 +0.1%
Net Income $-621,205 $-403,775 +0.5%
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

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Liquidity & Cash Position

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Governance

Voting Members
3
Independent Members
3
Employees
N/A
Volunteers
5

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
5
$523,022
Total Directors
3
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CYNTHIA C WAINWRIGHT PRESIDENT 0.10
Officer Director
$0 $0 $0
CAROL BUCKLER SECRETARY 0.10
Officer Director
$0 $0 $0
ALBERT E MAYAS TREASURER 0.10
Officer Director
$0 $0 $0
SUSAN WIVIOTT CEO 0.50
Officer
$0 $18,651 $314,412
EZRA MILLER CFO 0.50
Officer
$0 $18,423 $208,610
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
2025 No data No data No data No data
2024 No data No data No data No data
2023 $1,254,771 $1,875,976 $12,561,655 $-621,205
2022 $1,252,456 $1,656,231 $13,412,037 $-403,775
2021 $388,624 $586,843 $13,796,095 $-198,219
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