THE HOUSING PARTNERSHIP

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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

1988

Legal Domicile

Principal Officer

MARTY CHAPMAN

Phone

6034313610

Tax Period

2023-01-01 to 2023-12-31

THE HOUSING PARTNERSHIP, founded in 1988, is a small nonprofit in the Housing & Shelter sector that reported $659K in total revenue in fiscal year 2023. Revenue fell 44% from the prior year — a significant decline worth monitoring. Expenses of $916K exceeded revenue, resulting in a 39% operating deficit.

Mission

THE HOUSING PARTNERSHIP'S (THP) MISSION IS TO STRENGTHEN THE COMMUNITIES OF THE GREATER SEACOAST REGION OF NEW HAMPSHIRE AND SOUTHERN MAINE BY CREATING DIVERSE HOUSING OPPORTUNITIES, UTILIZING INNOVATIVE APPROACHES TO DEVELOPMENT, AND PRACTICING STRONG STEWARDSHIP OF OUR HOUSING. WE VALUE ECONOMIC SUSTAINABILITY, ECONOMIC AND SOCIAL DIVERSITY AND SMART GROWTH. BY HONORING THESE VALUES, WE CREATE HOUSING THAT STRENGTHENS THE FABRIC OF COMMUNITIES.

Program Service Accomplishments

Program 1

Expenses: $505,958 Revenue: $593,352

RENTAL PROPERTIES - THP OWNS/OVERSEES THE PROPERTY MANAGEMENT OF 252 AFFORDABLE APARTMENTS AND 1 COMMERCIAL UNIT IN DOVER, EXETER, FARMINGTON, LEE, ROLLINSFORD, RYE, KENNEBUNK, ELIOT, AND SOUTH...

RENTAL PROPERTIES - THP OWNS/OVERSEES THE PROPERTY MANAGEMENT OF 252 AFFORDABLE APARTMENTS AND 1 COMMERCIAL UNIT IN DOVER, EXETER, FARMINGTON, LEE, ROLLINSFORD, RYE, KENNEBUNK, ELIOT, AND SOUTH BERWICK.

Program 2

Expenses: $144,183 Revenue: $97,296

PROPERTY DEVELOPMENT - DEVELOPMENT OF AFFORDABLE HOUSING THROUGH CONSTRUCTION OF NEW HOUSING AS WELL AS PURCHASE AND REHAB OF EXISTING HOUSING.

Program 3

Expenses: $85,741 Revenue: $14,111

HOMEWARD BOUND - A FREE AND COMMUNITY-BASED COMPREHENSIVE HOMEBUYER EDUCTION PROGRAM OFFER IN THE SEACOAST REGION OF NEW HAMPSHIRE. IT IS THE ONLY HUD-CERTIFIED HOMEBUYER EDUCATION PROGRAM OFFERED IN THE SEACOAST REGION. THE 8-HOUR PROGRAM TEACHES THE STEPS NECESSARY FOR SUCCESSFUL HOMEOWNERSHIP. IT PREPARES GRADUATES TO NAVIGATE THE POTENTIAL PITFALLS OF THE HOME BUYING PROCESS. GRAUDATES GAIN ACCESS TO TRANSITIONAL BANK FINANCING, AS WELL AS SATISFYING THE REQUIREMENTS OF MANY INCOME-RESTRICTED LOAN PROGRAMS. THE PROGRAM ALSO OFFERS TIPS ON ESTABLISHING AND SAVING FOR A DOWN PAYMENT, IMPROVING CREDIT SCORE, SHOPPING FOR A HOME, SECURING A MORTGAGE, GETTING A HOME INSPECTION, CLOSING THE SALE AND KEEPING A HOME AND MANAGING FINANCES. IN ADDITION, THE PROGRAM OFFERS APPOINTMENTS FOR INDIVIDUAL COUNSELING.

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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 $109,869

Program Service Revenue $530,171

Investment Income $25,201

Other Revenue $-5,929

TOTAL REVENUE $659,312

Expense Breakdown

Grants Paid $0

Salaries & Benefits $400,647

Fundraising Expenses $10,681

Program Expenses $735,882

Other Expenses $515,388

TOTAL EXPENSES $916,035

Year-over-Year Comparison

	2023	2022	Change
Revenue	$659,312	$1,185,681	-0.4%
Expenses	$916,035	$1,023,810	-0.1%
Net Income	$-256,723	$161,871	-2.6%

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

Volunteers

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

$168,948

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RYAN J BISHOP	DIRECTOR	1.00	Director	$0	$0	$0
JOSEPH GALLI	DIRECTOR	1.00	Director	$0	$0	$0
BILL CORMIER	DIRECTOR	1.00	Director	$0	$0	$0
SANDRA PAGEL	DIRECTOR	1.00	Director	$0	$0	$0
JEFF GILBERT	PRESIDENT	1.00	Officer Director	$0	$0	$0
RAYMOND H WEAVING	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
PHILIP COHEN	TREASURER	1.00	Officer Director	$0	$0	$0
MARTY CHAPMAN	EXECUTIVE DIRECTOR	37.50	Officer	$156,405	$12,543	$168,948

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	$659,312	$916,035	$11,796,241	$-256,723
2022	$1,185,681	$1,023,810	$10,503,936	$161,871
2021	$2,909,640	$1,230,140	$8,324,621	$1,679,500
2020	$1,145,426	$1,182,306	$5,542,049	$-36,880