VIRGINIA-MICHIGAN HOUSING DEVELOPMENT FUND COMPANY INC

EIN: 222325527 501(c)(3)

BUFFALO, NY

Total Revenue
$1,750,876
Total Expenses
$1,882,086
Total Assets
$4,217,019
Net Assets
$-1,724,174
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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
1980
Legal Domicile
NY
Principal Officer
WILLIAM R COVINGTON
Phone
7168524504
Tax Period
2018-07-01 to 2019-06-30

VIRGINIA-MICHIGAN HOUSING DEVELOPMENT FUND COMPANY INC, founded in 1980, is a community nonprofit that reported $1.8M in total revenue in fiscal year 2018.

Mission

LOW-INCOME 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%)

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Financial Overview (2018)

Revenue Breakdown

Contributions & Grants $16,328
Program Service Revenue $1,689,014
Investment Income $439
Other Revenue $45,095
TOTAL REVENUE $1,750,876

Expense Breakdown

Grants Paid $0
Salaries & Benefits $330,527
Fundraising Expenses $0
Program Expenses $1,516,273
Other Expenses $1,551,559
TOTAL EXPENSES $1,882,086

Year-over-Year Comparison

2018 2017 Change
Revenue $1,750,876 $1,752,029 0.0%
Expenses $1,882,086 $1,757,640 +0.1%
Net Income $-131,210 $-5,611 +22.4%
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

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Governance

Voting Members
6
Independent Members
6
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
2
$0
Total Directors
6
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
WILLIAM RCOVINGTON PRESIDENT 1.00
Officer Director
$0 $0 $0
ROBERT GRICE SECRETARY 1.00
Officer Director
$0 $0 $0
TRACY L LEWIS POMPEY BOARD MEMBER 1.00
Director
$0 $0 $0
CLARENCE SIMMONS BOARD MEMBER 1.00
Director
$0 $0 $0
WILBERT ROGERS BOARD MEMBER 1.00
Director
$0 $0 $0
LILLIAN YOKLEY BOARD MEMBER 1.00
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
2019 $1,750,876 $1,882,086 $4,217,019 $-131,210
2018 $1,752,029 $1,757,640 $4,417,718 $-5,611
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