FINANCIAL ALERTS

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Years of mismanagement have drained our reserves, spiked our debt, increased our maintenance and put our homes at risk.

NEW: See the interactive 2025 financial breakdown »

Maintenance Surge

Maintenance +53%

From 2018 to 2025 (audited).

•$12.2 million billed in 2018, $18.6 million in 2025.

•Shows that buildings aren’t being run well.

•Up 10 percent or more each year since 2023, and 11 percent more in the 2026 budget.

Debt Spiraling

$54.3M in mortgages

More borrowing = more pressure on maintenance.

•Up from $30.1 million at the end of 2015.

•Up 80 percent in ten years.

•An $8 million second mortgage was added in May 2024.

Reserve Fund

$20.4M → $167K

Down ~99%. The cushion is gone!

•2019 began with $20,404,871 in reserve funds.

•On December 31, 2025, it held $167,080.

•It hit zero at the end of 2023. The co-op then borrowed $8 million and put $7 million in. By the end of 2025, $167,080 was left.

Financial stability requires transparency and discipline. It is time to implement a professional, forward-looking strategy that protects our investments and keeps our homes affordable.

Massive Net Losses

-$1.36M

Net loss for 2025 (audited).

Still losing money after years of increases.

•$5.8 million in losses from 2023 to 2025.

•A loss every year from 2014 through 2025, $18.9 million in all.

•Spending more than we are taking in is irresponsible.

Special assessment

$15M

Billed monthly for five years from June 1, 2026.

On top of maintenance.

•About $224 a month for an average apartment (Board notice, May 4, 2026).

Electrical Case Exposure

$4.58M paid

Lawsuit states that it was paid before verifying!

Additional cost to finish the work: ≥ $8.576M.

•A walkthrough in Nov 2024 showed less than $1 million in materials.

•That walk through was 2 years after signing contract and paying!

•Demand the payment approval trail: who certified the payments to go out?

This information was compiled from Fordham Hill Oval's financial statements, annual reports, and board minutes. All figures are based on official documents released by the corporation. Calculations, percentages, and financial summaries represent our independent analysis of these documents. We are a group of concerned shareholders presenting this data for informational purposes to advocate for better management.

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