SOUTHEASTERN MASSACHUSETTS AFFORDAB

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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

1996

Legal Domicile

Principal Officer

THOMAS THIBEAULT

Phone

5085886880

Tax Period

2024-01-01 to 2024-12-31

SOUTHEASTERN MASSACHUSETTS AFFORDAB, founded in 1996, is a small nonprofit in the Housing & Shelter sector that reported $949K in total revenue in fiscal year 2024. The organization ran a surplus of $225K, a strong 24% operating margin.

Mission

PROVIDE HOUSING FOR LOW TO MODERATE INCOME PEOPLE AS DEFINED BY THE DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

Program Service Accomplishments

Program 1

Expenses: $584,145 Revenue: $885,031

THE ORGANIZATION MAINTAINS A PROGRAM THAT CREATES AFFORDABLE RENTAL HOMES FOR LOW AND MODERATE INCOME INDIVIDUALS BY PURCHASING AND REHABILITATING MULTIFAMILY HOMES WITHIN THE CITY OF BROCKTON. THE ORGANIZATION OWNS AND MANAGES 42 UNITS OF RESIDENTIAL RENTAL HOUSING. THE HOUSING UNITS ARE RENTED TO TENANTS WHO QUALIFY WITH LOW TO MODERATE INCOME AT REDUCED RENTAL RATES. OPERATIONS ARE FURTHER SUBSIDIZED WITH SECTION 8 HOUSING ASSISTANCE. TEH ORGANIZATION ALSO PURCHASES HOUSES UNDER FORECLOSURE TO REHABILITATE AND SELL TO HOUSEHOLDS WHOSE INCOME MEETS THE AFFORDABILITY REQUIREMENTS IN ACCORDANCE WITH 24 CFR, PART 92.254. THE HOMES ARE REQUIRED TO REMAIN QUALIFIED FOR THE AFFORDABILITY PERIOD SET FORTH IN THE HOME INVESTMENT FUNDS GRANT CONTRACT

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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 $0

Program Service Revenue $885,031

Investment Income $63,900

Other Revenue $0

TOTAL REVENUE $948,931

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $584,145

Other Expenses $723,593

TOTAL EXPENSES $723,593

Year-over-Year Comparison

	2024	2023	Change
Revenue	$948,931	$910,378	+0.0%
Expenses	$723,593	$662,223	+0.1%
Net Income	$225,338	$248,155	-0.1%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
THOMAS THIBEAULT	EXECUTIVE DI	N/A	Officer	$0	$0	$0
RICHARD OLSON	PRESIDENT	N/A	Officer Director	$0	$0	$0
DAVID TEIXEIRA	TREASURER	N/A	Officer Director	$0	$0	$0
JOHN MCGARRY	CLERK	N/A	Officer Director	$0	$0	$0
TIMOTHY SULLIVAN	DIRECTOR	N/A	Director	$0	$0	$0
ALLYNE PECEVICH	DIRECTOR	N/A	Director	$0	$0	$0
GERARD NADEAU	DIRECTOR	N/A	Director	$0	$0	$0
JEANETTE CAYER	DIRECTOR	N/A	Director	$0	$0	$0
CAROL ROBERTS	DIRECTOR	N/A	Director	$0	$0	$0
KIMBERLY LUNDIN	DIRECTOR	N/A	Director	$0	$0	$0
LINDA O'MALLEY	DIRECTOR	N/A	Director	$0	$0	$0
SUSAN HASOMERIS	DIRECTOR	N/A	Director	$0	$0	$0
LINDA KENNEY LOGAN	DIRECTOR	N/A	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	$948,931	$723,593	$6,284,033	$225,338
2023	$910,378	$662,223	$6,109,593	$248,155
2022	$694,826	$702,175	$5,957,717	$-7,349
2021	$566,801	$582,053	$6,074,909	$-15,252
2020	$771,791	$643,052	$6,130,674	$128,739
2019	$883,355	$676,680	$6,109,387	$206,675
2018	$645,718	$587,960	$6,246,160	$57,758