HOUSING FOUNDATION OF AMERICA 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

2005

Legal Domicile

Principal Officer

CHESTER BISHOP

Phone

9549235001

Tax Period

2024-01-01 to 2024-12-31

HOUSING FOUNDATION OF AMERICA INC, founded in 2005, is a community nonprofit in the Human Services sector that reported $1.0M in total revenue in fiscal year 2024. Revenue surged 35% from the prior year, signaling strong growth momentum. Expenses of $954K left a modest 8% surplus.

Mission

Housing Foundation of America, Inc HFA is a Florida corporation organized in October 2005. HFA operates as a Not-For-Profit Organization pursuant to Chapter 718 of the Florida Statues. HFA is committed to create better communities and changing lives through providing assistance to qualified home buyers and first time home buyers

Program Service Accomplishments

Program 1

Expenses: $253,407

WORKSHOPS, these workshops are basically counseling done on the road. They are held in the tri-counties of Maimi- Dade, Broward and Palm Beach of Florida. Housing Foundation of America, Inc. is now in North Carolina, offering the same, much needed assistance.These workshops last for 8 hours on the day of the event. Targets of these workshops are first time home buyers, foreclosure prevention, affordable home loan program, pre-purchase counseling and financial literacy

Program 2

Expenses: $195,520

COUNSELING, is the center of operation of this entity, the topics includes first time home buyers, financial literacy/credit counseling, reverse mortgage, foreclosure prevention, pre-purchase...

COUNSELING, is the center of operation of this entity, the topics includes first time home buyers, financial literacy/credit counseling, reverse mortgage, foreclosure prevention, pre-purchase counseling, affordable home loan program and IDA individual Development account

Program 3

Expenses: $293,950

NEIGHBORHOOD STABILIZATION PROGRAMS, these are programs that are in communities across the tri-counties, however they may not be well known to residents of those communities. Housing Foundation of...

NEIGHBORHOOD STABILIZATION PROGRAMS, these are programs that are in communities across the tri-counties, however they may not be well known to residents of those communities. Housing Foundation of America helps in educating the residents about these programs and their benefits. These programs includes Broward NSP, BAND Broward Alliance Neighborhood Develpoment, HAP Home-Ownership Assistance Program and Florida Housing BOND Program. Another area in which HFA assist in the Neighborhood Stabilization Program is the precurement of depressed residential buildings/houses. Once aquired, these building will be repaired and ownership would be transferred to qualified persons

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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 $941,967

Program Service Revenue $93,325

Investment Income $0

Other Revenue $0

TOTAL REVENUE $1,035,292

Expense Breakdown

Grants Paid $0

Salaries & Benefits $352,935

Fundraising Expenses $0

Program Expenses $742,877

Other Expenses $600,783

TOTAL EXPENSES $953,718

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,035,292	$764,861	+0.4%
Expenses	$953,718	$698,252	+0.4%
Net Income	$81,574	$66,609	+0.2%

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

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHESTER BISHOP	CHAIRMAN	012.00	Director	$0	$0	$0
BEVERLY KIRTON-SMITH	DIRECTOR	004.00	Director	$0	$0	$0
PATRICK E EICHHOLTZ	DIRECTOR	004.00	Director	$0	$0	$0
MICHELLE EDWARDS-COLLIE	DIRECTOR	004.00	Director	$0	$0	$0
CATHY ALBAMONTE	TREASURER	004.00	Director	$0	$0	$0
MICHAEL COLES	DIRECTOR	004.00	Director	$0	$0	$0
JEREMY R MONTANTI	EXECUTIVE DIRECTOR	012.00	Director	$0	$0	$0
DERRICKA D CHUNG-FOBBS	DIRECTOR	004.00	Director	$0	$0	$0
AMY LYNN ROBBINS	DIRECTOR	004.00	Director	$0	$0	$0
ROBIN HOLLEY	DIRECTOR	004.00	Director	$0	$0	$0
ANN TAYLOR	DIRECTOR	004.00	Director	$0	$0	$0
TIFFANY RICHARDS	DIRECTOR	004.00	Director	$0	$0	$0
JAMILA DAWSON	DIRECTOR	004.00	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
2025	No data	No data	No data	No data
2024	$1,035,292	$953,718	$1,036,853	$81,574
2023	$764,861	$698,252	$695,829	$66,609
2022	$594,681	$545,442	$661,001	$49,239
2021	$584,240	$554,432	$452,890	$29,808
2020	$416,579	$412,380	$421,545	$4,199
2019	$369,614	$336,368	$363,922	$33,246
2018	$444,552	$420,359	$490,881	$24,193