NHH-Canal Street Apartments Inc (EIN 043664461) - Form 990 Financial Analysis & Trantor Score

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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

2001

Legal Domicile

Principal Officer

Joy Horak-Brown

Phone

7132220290

Tax Period

2024-01-01 to 2024-12-31

NHH-Canal Street Apartments Inc, founded in 2001, is a community nonprofit in the Housing & Shelter sector that reported $1.1M in total revenue in fiscal year 2024. Revenue grew 9% year-over-year, indicating healthy expansion. Expenses of $1.4M exceeded revenue, resulting in a 26% operating deficit.

Mission

NHH-Canal Street Apartments, Inc.'s core purpose is to provide 134 units of supportive, affordable housing for adults living singly on low incomes, which offers robust on-site supportive services.

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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 $1,104,343

Investment Income $29,337

Other Revenue $0

TOTAL REVENUE $1,133,680

Expense Breakdown

Grants Paid $0

Salaries & Benefits $462,359

Fundraising Expenses $0

Program Expenses $1,299,338

Other Expenses $971,202

TOTAL EXPENSES $1,433,561

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,133,680	$1,044,709	+0.1%
Expenses	$1,433,561	$1,232,002	+0.2%
Net Income	$-299,881	$-187,293	+0.6%

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

N/A

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

$807,358

Total Directors

Key Employees

$655,911

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Ricardo Rivas	Chair	1.00	Officer Director	$0	$0	$0
Andrea Link	Vice Chair	1.00	Officer Director	$0	$0	$0
Kevin Fulton	Secretary	1.00	Officer Director	$0	$0	$0
Janice E Walker	Treasurer	1.00	Officer Director	$0	$0	$0
Sanford W Criner Jr	Chair Emertius	1.00	Director	$0	$0	$0
Michael M Fowler	Chair Emertius	1.00	Director	$0	$0	$0
Kenneth J Valach	Chair Emertius	1.00	Director	$0	$0	$0
Joy Horak-Brown	President & CEO	5.00	Officer	$0	$1,386	$382,986
Tamara Foster	EVP Onsite Ops/Strategic Partnership	5.00	Officer	$0	$22,041	$249,741
John Peavy	CFO (from July)	5.00	Officer	$0	$234	$128,913
Calvin Tang	CFO (to March)	5.00	Officer	$0	$2,385	$45,718
Diana Gross	VP Philanthrophy & Communications	2.00	Key Emp	$0	$22,041	$210,291
Ron Lastimosa	VP Real Estate Development	0.00	Key Emp	$0	$24,541	$234,541
Katie Lamb	VP People & Culture	5.00	Key Emp	$0	$22,829	$211,079
Stacey Lastovica	VP Property Management	5.00	Highest	$0	$22,641	$160,641
Rhonda Bonfield	Dir. of Foundations and Corp Rel.	2.00	Highest	$0	$10,482	$130,082
Ash Hussain	Director of Finance	5.00	Highest	$0	$15,641	$163,641
Aziz Ouedraogo	Senior Manager Finance	5.00	Highest	$0	$13,483	$118,483
Katherine Anchondo	Real Estate Development Manager	0.00	Highest	$0	$26,981	$144,233

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	$1,133,680	$1,433,561	$2,633,104	$-299,881
2023	$1,044,709	$1,232,002	$2,913,870	$-187,293
2022	$950,229	$1,201,632	$3,060,828	$-251,403
2021	$952,918	$1,168,652	$3,248,765	$-215,734
2020	$941,854	$979,472	$3,656,587	$-37,618
2019	$900,582	$930,202	$3,706,016	$-29,620
2018	$840,725	$863,695	$3,736,317	$-22,970

NHH-Canal Street Apartments Inc