RANDOLPH AREA COMMUNITY DEVELOPMEN… - Form 990 Financial Data

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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

1993

Legal Domicile

Principal Officer

PETER REED

Phone

8027284305

Tax Period

2024-01-01 to 2024-12-31

RANDOLPH AREA COMMUNITY DEVELOPMENT CORPORATION, founded in 1993, is a community nonprofit in the Community Improvement sector that reported $1.3M in total revenue in fiscal year 2024. Expenses of $1.2M left a modest 7% surplus.

Mission

RANDOLPH AREA COMMUNITY DEVELOPMENT CORPORATION (RACDC) IS A NONPROFIT ORGANIZATION THAT UNITES THE COMMUNITY BEHIND INITIATIVES WHICH STRENGTHEN OUR REGION'S SOCIAL AND ECONOMIC ASSETS IN ORDER TO ENRICH QUALITY OF LIFE, INSTILL PRIDE, AND BUILD CONFIDENCE. WE DO THIS BY PROMOTING SOUND DEVELOPMENT PRACTICES AND INVESTMENT, CREATING AFFORDABLE HOUSING OPTIONS, PRESERVING ENVIRONMENTAL AND HISTORIC RESOURCES, AND LEADING IN THE REVITALIZATION OF DOWNTOWN AND VILLAGE CENTERS.

Program Service Accomplishments

Program 1

Expenses: $359,312 Revenue: $395,848

JOSLYN HOUSE IS A SHARED HOUSING FACILITY WITH SUPPORTIVE SERVICES PRIMARILY FOR LOW AND MODERATE INCOME INDIVIDUALS, AND IS RESTRICTED TO SUCH BY AFFORDABILITY COVENANTS. JOSLYN HOUSE PROVIDED...

JOSLYN HOUSE IS A SHARED HOUSING FACILITY WITH SUPPORTIVE SERVICES PRIMARILY FOR LOW AND MODERATE INCOME INDIVIDUALS, AND IS RESTRICTED TO SUCH BY AFFORDABILITY COVENANTS. JOSLYN HOUSE PROVIDED AFFORDABLE HOUSING FOR APPROXIMATELY TWENTY-SIX (26).

Program 2

Expenses: $123,274 Revenue: $92,176

ARMSTRONG MOBILE HOME PARK CONSISTS OF 16 MOBILE HOME LOTS AND A HOUSE THAT INCLUDES ONE 2-BEDROOM AND ONE 1-BEDROOM UNIT, FOR LEASE TO A MIX OF PRIMARILY LOW AND MODERATE INCOME FAMILIES, AND IS...

ARMSTRONG MOBILE HOME PARK CONSISTS OF 16 MOBILE HOME LOTS AND A HOUSE THAT INCLUDES ONE 2-BEDROOM AND ONE 1-BEDROOM UNIT, FOR LEASE TO A MIX OF PRIMARILY LOW AND MODERATE INCOME FAMILIES, AND IS RESTRICTED TO SUCH USE BY AFFORDABILITY COVENANTS. ARMSTRONG MOBILE HOME PARK PROVIDED AFFORDABLE HOUSING FOR APPROXIMATELY TWENTY-ONE (21).

Program 3

Expenses: $44,593 Revenue: $83,163

JACOBS MOBILE HOME PARK CONSISTS OF 19 MOBILE HOME LOTS FOR LEASE TO A MIX OF PRIMARILY LOW AND MODERATE INCOME FAMILIES, AND IS RESTRICTED TO SUCH USE BY AFFORDABILITY COVENANTS. JACOBS MOBILE HOME...

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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 (2024)

Revenue Breakdown

Contributions & Grants $436,301

Program Service Revenue $834,623

Investment Income $70,000

Other Revenue $6,664

TOTAL REVENUE $1,347,588

Expense Breakdown

Grants Paid $3,039

Salaries & Benefits $648,886

Fundraising Expenses $0

Program Expenses $1,093,339

Other Expenses $596,911

TOTAL EXPENSES $1,248,836

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,347,588	$1,336,191	+0.0%
Expenses	$1,248,836	$622,171	+1.0%
Net Income	$98,752	$714,020	-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

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

$106,000

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JULIE IFFLAND	EXECUTIVE DI	40.00	Officer	$100,000	$6,000	$106,000
PETER REED	PRESIDENT	2.00	Officer Director	$0	$0	$0
DANIEL DEVOE	VICE PRESIDE	2.00	Officer Director	$0	$0	$0
ROBERT WRIGHT	TREASURER	2.00	Officer Director	$0	$0	$0
MATHEW JOHNSON	SECRETARY	2.00	Officer Director	$0	$0	$0
SAM HOOPER	DIRECTOR	2.00	Director	$0	$0	$0
CHRISTINE MALONEY	DIRECTOR	2.00	Director	$0	$0	$0
ROBERT SPARADEO	DIRECTOR	2.00	Director	$0	$0	$0
EILEEN LONDON	DIRECTOR	2.00	Director	$0	$0	$0
JOSH HANFORD	DIRECTOR	2.00	Director	$0	$0	$0
TOM AYRES LEFT JANUARY 2024	DIRECTOR	2.00	Director	$0	$0	$0
DAN BENNETT LEFT OCTOBER 2024	DIRECTOR	2.00	Director	$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	$1,347,588	$1,248,836	$8,256,620	$98,752
2023	$1,057,558	$1,060,863	$7,135,312	$-3,305
2023	$1,336,191	$622,171	$8,393,542	$714,020
2022	$3,750,856	$1,007,506	$7,323,571	$2,743,350
2021	$1,051,354	$868,906	$5,201,775	$182,448
2020	$736,283	$743,454	$5,158,383	$-7,171
2019	$1,330,794	$730,749	$5,120,818	$600,045
2018	$1,495,179	$778,808	$4,219,058	$716,371

RANDOLPH AREA COMMUNITY DEVELOPMENT CORPORATION