PILGRIM TOWER EAST (EIN 953298228) - 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

1978

Legal Domicile

Principal Officer

STUART HARTMAN

Phone

5622575100

Tax Period

2023-12-01 to 2024-11-30

PILGRIM TOWER EAST, founded in 1978, is a community nonprofit that reported $4.2M in total revenue in fiscal year 2023. Revenue grew 11% year-over-year, indicating healthy expansion. Net assets of $15.3M represent 43 months of operating reserves.

Mission

TO PROVIDE AFFORDABLE HOUSING FOR LOW-INCOME SENIORS, BASED ON NEED, IN AN ENVIRONMENT ENHANCING THE QUALITY OF LIFE AS IT RELATES TO THEIR PHYSICAL, MENTAL AND SPIRITUAL WELL-BEING.

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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 $3,212,685

Program Service Revenue $804,624

Investment Income $209,870

Other Revenue $22,636

TOTAL REVENUE $4,249,815

Expense Breakdown

Grants Paid $2,285,877

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $4,106,141

Other Expenses $1,998,635

TOTAL EXPENSES $4,284,512

Year-over-Year Comparison

	2023	2022	Change
Revenue	$4,249,815	$3,844,775	+0.1%
Expenses	$4,284,512	$4,534,877	-0.1%
Net Income	$-34,697	$-690,102	-0.9%

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

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

$858,258

Total Directors

Key Employees

$5,057,122

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
HARTMAN STUART J	PRESIDENT/CEO	0.20	Officer	$0	$68,128	$685,724
AMBERG ROBERT R	EXECUTIVE VP GEN COUNSEL	0.20	Key Emp	$0	$49,216	$489,502
ROSSELLO FRANK JR	CFO AND VP OF FINANCE	0.20	Key Emp	$0	$25,235	$403,817
FARD BOB J	VP ACQUIS AND PROJ DEV	0.20	Key Emp	$0	$21,908	$281,127
MAGNONE VINCENT B	VP TREASURY & INVSTMT OFF	0.20	Key Emp	$0	$37,102	$283,260
ESCANDON YURI ANDREW	VP HOUSING OPERATIONS	0.20	Key Emp	$0	$40,606	$289,428
NAPIERSKIE DAVID W	VP HEALTH CARE OPERATIONS	0.20	Key Emp	$0	$41,335	$286,493
BATTAGLIA NADA	VP HUMAN RESOURCES	0.20	Key Emp	$0	$46,746	$288,839
TITUS STEPHANIE L	VP PHILANTHROPY/CSO	0.20	Key Emp	$0	$49,191	$288,833
GILCHRIST KEVIN DARRELL	VP DEVELOPMENT FINANCE	0.20	Key Emp	$0	$48,817	$277,179
RIVERA MICHAEL	REG'L MANAGER HEALTH CARE	0.20	Key Emp	$0	$4,520	$228,351
KENNEDY TERESA	NURSE TRAINER EXEMPT	0.20	Key Emp	$0	$3,734	$214,382
CLOW JOHN C	VP RISK MANAGEMENT	0.20	Key Emp	$0	$18,816	$227,978
PURCELL CHRISTOPHER	CONTROLLER	0.20	Key Emp	$0	$19,731	$216,931
MICKELSON LAVONNE R	DIR OF AFFORD HOUSING OPS	0.20	Key Emp	$0	$4,763	$189,381
STECKBECK KENT	BUDGET & ANALYTICS DIR	0.20	Key Emp	$0	$5,331	$183,013
ROBINSON TINA M	VP HOUSING ACCOUNTING	0.20	Key Emp	$0	$16,482	$193,805
PHELPS LORI ANN	INFO SYSTEMS DIRECTOR	0.20	Key Emp	$0	$5,192	$178,269
SILVA JOANNE L	VP OCCUPANCY & TAX CREDIT	0.20	Key Emp	$0	$23,842	$190,698
KING DIANE D	COMPL AND PRIVACY OFFICER	0.20	Key Emp	$0	$19,443	$187,985
FOX BUCHAN LAURA L	DIRECTOR OF CORP RECORDS	0.20	Officer	$0	$18,784	$172,534
YOUNG SEESEE	INTERNAL AUDIT DIRECTOR	0.20	Key Emp	$0	$6,199	$157,851
RAGON CHRISTY ANN	VP OF COMMUNICATIONS	0.20	Highest	$0	$18,804	$172,776
RICANO PEGGY	ACCT MANAGER EXEMPT	0.20	Highest	$0	$18,185	$165,199
INGRAO SALVATORE A	DEVEL ACCOUNTING DIR	0.20	Highest	$0	$17,693	$161,075
BUNKHONG DONNA	ACCOUNTING LEAD SR.	0.20	Highest	$0	$16,437	$153,960
DO THANH-THANH	ACCT MANAGER EXEMPT	0.20	Highest	$0	$16,749	$153,900
BUNN ANDREW	TREASURER	0.20	Officer Director	$0	$0	$0
DESAEGHER NORMA N	VICE PRESIDENT	0.20	Officer Director	$0	$0	$0
EAST RAYMOND E	DIRECTOR	0.20	Director	$0	$0	$0
BAUMAN JOHN	DIRECTOR	0.20	Director	$0	$0	$0
MOYER DAVID S	DIRECTOR	0.20	Director	$0	$0	$0
HART DONALD G	DIRECTOR	0.20	Director	$0	$0	$0
POLLOCK JEFFREY R	DIRECTOR	0.20	Director	$0	$0	$0
WILSON CHERYL	DIRECTOR	0.20	Director	$0	$0	$0
SEE SCHEDULE JO SALARY	DISCLOSURE - PGS 34 & 38	0.00	Officer	$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	$4,249,815	$4,284,512	$15,540,159	$-34,697
2023	$3,844,775	$4,534,877	$15,615,314	$-690,102
2022	$3,630,920	$5,767,681	$16,231,353	$-2,136,761
2021	$3,531,904	$1,683,130	$18,458,775	$1,848,774
2020	$3,615,647	$1,511,593	$17,012,419	$2,104,054
2019	$2,357,188	$1,521,781	$14,973,321	$835,407
2018	$2,241,581	$1,513,350	$14,433,654	$728,231

PILGRIM TOWER EAST