HOUSING ASSISTANCE PROGRAM OF ESSEX COUNTY INC (EIN 141601549) - 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

1976

Legal Domicile

Principal Officer

MEGAN MURPHY

Phone

5188376888

Tax Period

2024-01-01 to 2024-12-31

HOUSING ASSISTANCE PROGRAM OF ESSEX COUNTY INC, founded in 1976, is a community nonprofit in the Housing & Shelter sector that reported $2.3M in total revenue in fiscal year 2024. Revenue fell 29% from the prior year — a significant decline worth monitoring. Expenses of $2.2M left a modest 3% surplus.

Mission

TO ADMINISTER SECTION 8 HOUSING IN CLINTON AND ESSEX COUNTIES, NY WHILE ALSO ASSISTING LOW INCOME RESIDENT COMPLETE HOME PURCHASES AND HOME RENOVATIONS TO MAINTAIN SAFE AND ADEQUATE HOUSING.

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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 $1,567,266

Program Service Revenue $690,955

Investment Income $2,128

Other Revenue $60,254

TOTAL REVENUE $2,320,603

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,124,787

Fundraising Expenses $0

Program Expenses $1,881,936

Other Expenses $1,114,869

TOTAL EXPENSES $2,239,656

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,320,603	$3,287,178	-0.3%
Expenses	$2,239,656	$3,397,121	-0.3%
Net Income	$80,947	$-109,943	-1.7%

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

$220,532

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
EMILY KILBURN	PRESIDENT	2.00	Officer Director	$0	$0	$0
WILLIAM B JOHNSTON	VICE PRESIDENT (TO OCT '24)	2.00	Officer Director	$0	$0	$0
NICKY BRYANT	SECRETARY	1.00	Officer Director	$0	$0	$0
CAROLYN PETERSON	ASST SECRETARY/VICE CHAIR (BEG OCT'24)	1.00	Officer Director	$0	$0	$0
KAILA KELLAHER	TREASURER	2.00	Officer Director	$0	$0	$0
JOE KELLY	TRUSTEE	1.00	Director	$0	$0	$0
JOEL FRIEDMAN	TRUSTEE	1.00	Director	$0	$0	$0
TERRI MORSE	TRUSTEE	1.00	Director	$0	$0	$0
MARCY NEVILLE	TRUSTEE	1.00	Director	$0	$0	$0
SHERMAN RANDALL	TRUSTEE (NON-VOTING LIASON)	1.00	Director	$0	$0	$0
MEGAN MURPHY	EXECUTIVE DIRECTOR	40.00	Officer	$88,075	$24,122	$112,197
ERIN SULLIVAN	CONTROLLER	40.00	Officer	$83,532	$24,803	$108,335

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	$2,320,603	$2,239,656	$3,547,061	$80,947
2023	$3,287,178	$3,397,121	$2,459,472	$-109,943
2022	$2,642,624	$2,657,276	$2,421,446	$-14,652
2021	$2,258,739	$2,273,902	$2,176,759	$-15,163
2020	$2,024,431	$1,553,225	$2,283,038	$471,206
2019	$2,339,844	$2,216,665	$1,958,995	$123,179
2018	$4,125,255	$3,845,312	$2,332,872	$279,943

HOUSING ASSISTANCE PROGRAM OF ESSEX COUNTY INC