Shorefront Towers Housing Development Fund Corporation
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2011 | 700,237 | 1,142,779 | −442,542 | 10.0 | 8% |
| 2012 | 699,937 | 1,279,351 | −579,414 | 3.5 | 7% |
| 2013 | 701,921 | 1,280,370 | −578,449 | -1.9 | 8% |
| 2014 | 705,188 | 1,331,677 | −626,489 | -7.5 | 7% |
| 2015 | 702,317 | 1,289,810 | −587,493 | -13.2 | 8% |
| 2016 | 704,170 | 1,297,204 | −593,034 | -18.6 | 9% |
| 2017 | 1,281,810 | 1,528,341 | −246,531 | -17.7 | 7% |
| 2018 | 2,226,273 | 1,736,492 | 489,781 | -12.2 | 16% |
| 2019 | 1,813,646 | 1,807,700 | 5,946 | -12.6 | 18% |
| 2020 | 1,292,698 | 1,682,555 | −389,857 | -16.3 | 19% |
| 2021 | 1,491,645 | 1,874,200 | −382,555 | -17.1 | 18% |
| 2022 | 1,629,502 | 2,060,961 | −431,459 | -18.1 | 18% |
| 2023 | 1,636,307 | 1,967,810 | −331,503 | -20.9 | 17% |
In its most recent public year (2023), this organization spent $331,503 more than it brought in. Its liabilities exceeded its net assets — reserves were below zero (-20.9 months), down from 10 in 2011. Staff pay was 17% of spending.
Reserve months = net assets ÷ average monthly spending; net assets count everything the organization owns beyond its debts — buildings and donor-restricted funds included, not just cash. Staff pay = salaries, wages, and officer compensation; it excludes benefits and payroll taxes. The IRS releases this data years after the fact — this organization's newest public year is 2023. Years refer to the calendar year in which the organization's fiscal year ended. Short-form filers do not publicly report donor-restricted balances or staffing costs. Source filings
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