BYWATER MUTUAL HOMES INC

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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

1970

Legal Domicile

Principal Officer

DENEICE FISHER

Phone

4102681428

Tax Period

2023-01-01 to 2023-12-31

BYWATER MUTUAL HOMES INC, founded in 1970, is a community nonprofit that reported $3.6M in total revenue in fiscal year 2023. Expenses of $3.3M left a modest 8% surplus.

Mission

TO PROVIDE AFFORDABLE COOPERATIVE HOUSING IN ACCORDANCE WITH SECTION 236 OF THE NATIONAL HOUSING ACT.

Program Service Accomplishments

Program 1

Expenses: $3,028,972 Revenue: $2,124,697

BYWATER MUTUAL HOMES, INC. (THE "ENTITY") WAS ORGANIZED IN DECEMBER 1970 TO ACQUIRE AN INTEREST IN REAL PROPERTY LOCATED IN ANNAPOLIS, MARYLAND AND TO CONSTRUCT AND OPERATE TWO COOPERATIVE TOWNHOUSE COMPLEXES; ONE HAS 76 UNITS AND IS KNOWN AS BYWATER MUTUAL HOMES, INC., SECTION I AND ONE HAS 232 UNITS AND IS KNOWN AS BYWATER MUTUAL HOMES, INC., SECTION II. BOTH SECTION I AND SECTION II ARE OPERATED UNDER SECTION 236 OF TITLE II OF THE NATIONAL HOUSING ACT. SUCH PROJECTS ARE REGULATED BY THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT ("HUD") AS TO DWELLING UNIT CHARGES AND OPERATING METHODS.

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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 (2023)

Revenue Breakdown

Contributions & Grants $1,394,857

Program Service Revenue $2,124,697

Investment Income $29,517

Other Revenue $50,681

TOTAL REVENUE $3,599,752

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $3,028,972

Other Expenses $3,317,953

TOTAL EXPENSES $3,317,953

Year-over-Year Comparison

	2023	2022	Change
Revenue	$3,599,752	$3,450,471	+0.0%
Expenses	$3,317,953	$3,359,958	0.0%
Net Income	$281,799	$90,513	+2.1%

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

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
DENEICE FISHER	PRESIDENT	3.00	Officer Director	$0	$0	$0
ALMA CROPPER	VICE PRESIDENT	0.50	Officer Director	$0	$0	$0
BETTY WRIGHT	SECRETARY	1.50	Officer Director	$0	$0	$0
CAROL SPEAKS	TREASURER	1.50	Director	$0	$0	$0
RATASHA HARLEY	DIRECTOR	1.50	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	No data	No data	No data	No data
2023	$3,599,752	$3,317,953	$12,268,750	$281,799
2022	$3,450,471	$3,359,958	$12,033,415	$90,513
2021	$3,595,230	$3,213,365	$12,107,107	$381,865
2020	$3,494,031	$3,071,997	$11,961,689	$422,034
2019	$3,580,165	$3,341,867	$11,437,811	$238,298
2018	$3,329,376	$2,981,138	$11,378,495	$348,238