HOMES OF MONTCLAIR ECUMENICAL CORP… - Form 990 Financial Data

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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

1988

Legal Domicile

Principal Officer

SHIRLEY GRILL

Phone

9737444141

Tax Period

2024-07-01 to 2025-06-30

HOMES OF MONTCLAIR ECUMENICAL CORPORATION, founded in 1988, is a small nonprofit in the Housing & Shelter sector that reported $979K in total revenue in fiscal year 2024. Revenue decreased 15% compared to the prior year. Expenses of $1.2M exceeded revenue, resulting in a 20% operating deficit.

Mission

HOMECORP WAS FOUNDED IN 1988 BY A DEDICATED GROUP OF COMMUNITY VOLUNTEERS WHO SAW THE NEED TO PRESERVE AFFORDABILITY IN MONTCLAIR. SINCE THEN, HOMECORP HAS DEVELOPED NEARLY 200 UNITS OF AFFORDABLE RENTAL AND OWNED HOUSING IN MONTCLAIR. HOMECORPS HOUSING COUNSELING DEPT. ASSISTS NEARLY 200 HOUSEHOLDS ANNUALLY WITH ACHIEVING HOUSING GOALS.

Program Service Accomplishments

Program 1

Expenses: $1,030,044 Revenue: $908,658

HOMECORP PROVIDED PROPERTY MANAGMENT AND MAINTENANCE SERVICES TO THE CORPORATIONS RENTAL UNIS IN MONTCLAIR.

Program 2

Expenses: $0 Revenue: $0

HOMECORP OFFERED HUD CERTIFIED FIRST TIME HOMEBUYER SEMINARS AND HOUSING COUNSELING TO MULTIPLE PARTICIPANTS

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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 $64,578

Program Service Revenue $905,749

Investment Income $1,909

Other Revenue $6,786

TOTAL REVENUE $979,022

Expense Breakdown

Grants Paid $0

Salaries & Benefits $211,731

Fundraising Expenses $8,337

Program Expenses $1,030,044

Other Expenses $967,773

TOTAL EXPENSES $1,179,504

Year-over-Year Comparison

	2024	2023	Change
Revenue	$979,022	$1,147,566	-0.1%
Expenses	$1,179,504	$1,174,652	+0.0%
Net Income	$-200,482	$-27,086	+6.4%

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

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

$129,700

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SHERRILYN MCPERSON MS	EXECUTIVE DIRECTOR	40.00	Officer	$129,700	$0	$129,700
SHIRLEY GRILL	BOARD PRESIDENT	5.00	Officer	$0	$0	$0
SHELLY PHILLIPS	VICE PRESIDENT	1.00	Officer	$0	$0	$0
DAN SHEEHAN	SECRETARY	1.00	Officer	$0	$0	$0
TODD WIESENECK	TREASURER	5.00	Officer	$0	$0	$0
MERLE MARTIN	TRUSTEE	1.00	Director	$0	$0	$0
LEE GOLDMEIER	TRUSTEE	1.00	Director	$0	$0	$0
SOFI CORDERO	TRUSTEE	1.00	Director	$0	$0	$0
STEPHEN SCHWEIGER	TRUSTEE	1.00	Director	$0	$0	$0
SANDY CASTOR	TRUSTEE	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
2025	$979,022	$1,179,504	$4,600,812	$-200,482
2024	No data	No data	No data	No data
2021	$1,260,235	$927,569	$4,638,551	$332,666
2019	$1,059,881	$1,073,363	$4,942,980	$-13,482
2018	$-268,505	$1,147,014	$5,699,746	$-1,415,519

HOMES OF MONTCLAIR ECUMENICAL CORPORATION