LACASA DEVELOPMENT CORPORATION

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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

FRANK SHEA

Phone

4019412900

Tax Period

2024-07-01 to 2025-06-30

LACASA DEVELOPMENT CORPORATION, founded in 2001, is a small nonprofit in the Housing & Shelter sector that reported $433K in total revenue in fiscal year 2024. Revenue grew 13% year-over-year, indicating healthy expansion. Expenses of $727K exceeded revenue, resulting in a 68% operating deficit.

Mission

TO PROVIDE LOW INCOME HOUSING TO THE ELDERLY AND DISABLED IN THE SOUTH KINGSTOWN, RI AREA UNDER SECTION 202 OF THE NATIONAL AFFORDABLE HOUSING ACT.

Program Service Accomplishments

Program 1

Expenses: $655,436 Revenue: $238,147

PROVIDE LOW INCOME HOUSING TO THE ELDERLY AND DISABLED IN THE SOUTH KINGSTOWN, RI AREA UNDER SECTION 202 OF THE NATIONAL AFFORDABLE HOUSING ACT. OWNS AND OPERATES A 50 UNIT APARTMENT COMPLEX.

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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 $193,671

Program Service Revenue $238,147

Investment Income $1,584

Other Revenue $0

TOTAL REVENUE $433,402

Expense Breakdown

Grants Paid $0

Salaries & Benefits $150,428

Fundraising Expenses $0

Program Expenses $655,436

Other Expenses $576,269

TOTAL EXPENSES $726,697

Year-over-Year Comparison

	2024	2023	Change
Revenue	$433,402	$383,703	+0.1%
Expenses	$726,697	$588,695	+0.2%
Net Income	$-293,295	$-204,992	+0.4%

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
FRANK SHEA	PRESIDENT	1.00	Officer	$0	$0	$0
VICKIE WALTERS	VICE PRESIDENT	0.50	Officer	$0	$0	$0
MICHELLE BROPHY	SECRETARY	0.50	Officer	$0	$0	$0
LARRY KELLAM	TREASURER	0.50	Officer	$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
2025	$433,402	$726,697	$3,747,976	$-293,295
2024	$383,703	$588,695	$3,912,669	$-204,992
2023	$380,575	$561,067	$4,065,449	$-180,492
2021	$394,557	$548,644	$4,404,350	$-154,087
2020	$412,420	$541,293	$4,566,118	$-128,873
2019	$408,671	$579,860	$4,706,629	$-171,189