SOUTH PORTLAND HOUSING DEVELOPMENT CORP (EIN 222648277) - 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

1986

Legal Domicile

Principal Officer

MIKE HULSEY

Phone

2077734140

Tax Period

2023-10-01 to 2024-09-30

SOUTH PORTLAND HOUSING DEVELOPMENT CORP, founded in 1986, is a community nonprofit in the Housing & Shelter sector that reported $4.3M in total revenue in fiscal year 2023. Expenses of $3.8M left a modest 14% surplus.

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%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $44,829

Program Service Revenue $3,256,947

Investment Income $820,186

Other Revenue $224,788

TOTAL REVENUE $4,346,750

Expense Breakdown

Grants Paid $1,141,000

Salaries & Benefits $323,271

Fundraising Expenses $0

Program Expenses $2,904,130

Other Expenses $2,286,579

TOTAL EXPENSES $3,750,850

Year-over-Year Comparison

	2023	2022	Change
Revenue	$4,346,750	$4,071,254	+0.1%
Expenses	$3,750,850	$2,713,257	+0.4%
Net Income	$595,900	$1,357,997	-0.6%

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
MARY JO JAKAB	PRESIDENT	0.50	Officer Director	$0	$0	$0
JUDY CARPENTER	VICE PRESIDENT	0.50	Officer Director	$0	$0	$0
DR FRANK MORONG	DIRECTOR	0.50	Director	$0	$0	$0
CHRISTINE DEARBORN	DIRECTOR	0.50	Director	$0	$0	$0
PETER HOWE	DIRECTOR	0.50	Director	$0	$0	$0
KATHERN LOVEJOY	DIRECTOR	0.50	Director	$0	$0	$0
KATHRYN G ADAMS	DIRECTOR	0.50	Director	$0	$0	$0
GHOMRI ROSTAMPOUR	DIRECTOR	0.50	Director	$0	$0	$0
LAURIE CARR	DIRECTOR	0.50	Director	$0	$0	$0
ALISON DAME	DIRECTOR	0.50	Director	$0	$0	$0
MICHEL DUVERNAY	DIRECTOR	0.50	Director	$0	$0	$0
LISA VIOLA	DIRECTOR	0.50	Director	$0	$0	$0
MARK FARRINGTON	DIRECTOR	0.50	Director	$0	$0	$0
RONNIE HALFACRE-TELLERMAN	DIRECTOR	0.50	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	$4,346,750	$3,750,850	$10,812,211	$595,900
2023	$4,071,254	$2,713,257	$10,409,961	$1,357,997
2022	$2,010,924	$1,300,262	$9,180,721	$710,662
2021	$1,241,060	$1,008,203	$9,145,922	$232,857
2020	$1,610,007	$1,939,869	$8,024,348	$-329,862
2019	$776,871	$1,026,086	$7,982,199	$-249,215
2018	$737,749	$974,464	$7,910,715	$-236,715

SOUTH PORTLAND HOUSING DEVELOPMENT CORP