HOMEFRONT 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

1989

Legal Domicile

Principal Officer

BRIAN GILCHRIST

Phone

5187478250

Tax Period

2020-07-01 to 2021-06-30

HOMEFRONT DEVELOPMENT CORPORATION, founded in 1989, is a small nonprofit that reported $924K in total revenue in fiscal year 2020. Revenue decreased 12% compared to the prior year.

Mission

IT IS THE MISSION OF HOMEFRONT DEVELOPMENT CORPORATION TO ASSIST LOW TO MODERATE INCOME HOMEOWNERS THROUGH HOUSING REHABILITATION, EMERGENCY HOME REPAIR PROGRAMS, AND MANAGEMENT OF AFFORDABLE SENIOR RENTAL HOUSING IN WASHINGTON AND WARREN COUNTIES AND TO SERVE AS A RESOURCE FOR COMMUNITY DEVELOPMENT PROGRAMS IN WASHINGTON COUNTY.

Program Service Accomplishments

Program 1

Expenses: $233,738

THE HOME PROGRAM AND AFFORDABLE HOUSING CORPORATION (AHC) PROGRAM ARE HOUSING REHABILITATION PROGRAMS FOR LOW-INCOME SINGLE-FAMILY HOMEOWNERS. BOTH PROGRAMS ARE USED TOGETHER TO LEVERAGE FUNDS FOR...

THE HOME PROGRAM AND AFFORDABLE HOUSING CORPORATION (AHC) PROGRAM ARE HOUSING REHABILITATION PROGRAMS FOR LOW-INCOME SINGLE-FAMILY HOMEOWNERS. BOTH PROGRAMS ARE USED TOGETHER TO LEVERAGE FUNDS FOR HOME REHABILITATION PROJECTS OF UP TO $45,000 PER HOUSEHOLD. AT THE CLOSE OF EACH PROJECT, A DEFERRED LOAN AGREEMENT FOR TEN YEARS IS RECORDED AT THE WASHINGTON COUNTY CLERK'S OFFICE. ASSISTANCE WAS PROVIDED TO 15 INDIVIDUALS THROUGH THIS PROGRAM DURING THE YEAR ENDED JUNE 30, 2021.

Program 2

Expenses: $215,352 Revenue: $175,818

AUSTIN PERRY CORNERS (APC), WESTFIELD HIGHTS (WFH), AND LUFKIN COMMONS (LC) ARE PROJECTS ESTABLISHED TO DEVELOP UNITS OF LOW-INCOME RENTAL HOUSING. THESE UNITS ARE RENTED TO SENIOR CITIZENS WITH...

AUSTIN PERRY CORNERS (APC), WESTFIELD HIGHTS (WFH), AND LUFKIN COMMONS (LC) ARE PROJECTS ESTABLISHED TO DEVELOP UNITS OF LOW-INCOME RENTAL HOUSING. THESE UNITS ARE RENTED TO SENIOR CITIZENS WITH INCOME AT 50% OF MEDIAN INCOME OR BELOW. HOMEFRONT IS RESPONSIBLE FOR OPERATION AND MAINTENANCE OF THE BUILDING. THE PROJECTS ARE LOCATED IN THE NEW YORK COUNTIES OF WASHINGTON AND WARREN.

Program 3

Expenses: $214,189

MOBILE AND MANUFACTURED HOME REPLACEMENT PROGRAM (MMHR) WAS ESTABLISHED TO ASSIST LOW- AND MODERATE-INCOME HOMEOWNERS TO REPLACE DILAPIDATED MOBILE OR MANUFACTURED HOMES THAT ARE SITED ON LAND OWNED...

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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 (2020)

Revenue Breakdown

Contributions & Grants $735,219

Program Service Revenue $184,178

Investment Income $18

Other Revenue $4,135

TOTAL REVENUE $923,550

Expense Breakdown

Grants Paid $591,728

Salaries & Benefits $113,024

Fundraising Expenses $0

Program Expenses $869,748

Other Expenses $260,586

TOTAL EXPENSES $965,338

Year-over-Year Comparison

	2020	2019	Change
Revenue	$923,550	$1,048,124	-0.1%
Expenses	$965,338	$1,103,903	-0.1%
Net Income	$-41,788	$-55,779	-0.3%

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

$67,210

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LAURA CHADWICK	DIRECTOR	1.00	Director	$0	$0	$0
BRIAN GILCHRIST	PRESIDENT	1.00	Officer	$0	$0	$0
VIVIAN GAUGER	SECRETARY	1.00	Officer	$0	$0	$0
KAREN DOUGHERTY	TREASURER	1.00	Officer	$0	$0	$0
VIRGINIA SULLIVAN	TREASURER	1.00	Officer	$0	$0	$0
GINA CANTANUCCI-MITCHELL	VICE PRESIDENT	1.00	Officer	$0	$0	$0
SHARON REYNOLDS	EXECUTIVE DIRECTOR	40.00	Officer	$65,390	$1,820	$67,210
BECKY HEATH	EXECUTIVE DIRECTOR	40.00	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
2021	$923,550	$965,338	$1,119,109	$-41,788
2020	$1,048,124	$1,103,903	$1,082,180	$-55,779
2019	$490,572	$594,281	$1,053,548	$-103,709