NARRAGANSETT AFFORDABLE HOUSING INC (EIN 050493949) - 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

1999

Legal Domicile

Principal Officer

MICHAEL MCLOUGHLIN

Phone

4017820642

Tax Period

2024-04-01 to 2025-03-31

NARRAGANSETT AFFORDABLE HOUSING INC, founded in 1999, is a small nonprofit in the Housing & Shelter sector that reported $164K in total revenue in fiscal year 2024. Revenue surged 33% from the prior year, signaling strong growth momentum. Expenses of $145K left a modest 11% surplus.

Mission

TO CREATE AND MAINTAIN AFFORDABLE HOUSING AND PROVIDE COMMUNITY OUTREACH FOR LOW/MODERATE INCOME INDIVIDUALS AND FAMILIES AS WELL AS DEED MONITORING 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 $31,210

Program Service Revenue $29,446

Investment Income $9

Other Revenue $102,919

TOTAL REVENUE $163,584

Expense Breakdown

Grants Paid $0

Salaries & Benefits $81,398

Fundraising Expenses $0

Program Expenses $145,395

Other Expenses $63,997

TOTAL EXPENSES $145,395

Year-over-Year Comparison

	2024	2023	Change
Revenue	$163,584	$123,270	+0.3%
Expenses	$145,395	$151,317	0.0%
Net Income	$18,189	$-28,047	-1.6%

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

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

$75,000

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JAMES ARRIGHI	DIRECTOR	2.00	Director	$0	$0	$0
MICHAEL BRENNAN	DIRECTOR	2.00	Director	$0	$0	$0
GEORGE LENIHAN	DIRECTOR	2.00	Director	$0	$0	$0
MICHAEL MCLOUGHLIN	PRESIDENT	15.00	Key Emp	$37,500	$0	$37,500
CHERYL HARTNETT	VICE PRESIDENT	15.00	Key Emp	$37,500	$0	$37,500

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
2025	$163,584	$145,395	$443,010	$18,189
2024	$123,270	$151,317	$450,961	$-28,047
2023	$123,589	$135,293	$505,618	$-11,704
2022	$128,746	$118,555	$542,336	$10,191
2021	$126,066	$115,933	$557,343	$10,133
2020	$122,529	$126,145	$610,305	$-3,616
2019	$99,257	$106,758	$641,083	$-7,501
2018	$94,697	$108,982	$667,214	$-14,285

NARRAGANSETT AFFORDABLE HOUSING INC