MUTUAL HOUSING ASSOCIATION OF GREA… - 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

CATHERINE MACKINNON

Phone

8602961797

Tax Period

2023-01-01 to 2023-12-31

MUTUAL HOUSING ASSOCIATION OF GREATER HARTFORD INC, founded in 1988, is a community nonprofit that reported $4.8M in total revenue in fiscal year 2023. Revenue grew 12% year-over-year, indicating healthy expansion. Expenses of $6.0M exceeded revenue, resulting in a 25% operating deficit.

Mission

THE MUTUAL HOUSING ASSOCIATION OF GREATER HARTFORD, INC. DEVELOPS AND MANAGES AFFORDABLE HOUSING IN GREATER HARTFORD WHILE ENGAGING RESIDENTS IN LEADERSHIP AND EDUCATIONAL OPPORTUNITIES.

Program Service Accomplishments

Program 1

Expenses: $1,756,935 Revenue: $1,186,908

PROVIDING 72 UNITS OF LOW AND MODERATE INCOME HOUSING IN THE PARK TERRACE 1, ANVIL PLACE, 233 ALLEN STREET AND BRICK HOUSING RESIDENTIAL APARTMENT COMPLEXES.

Program 2

Expenses: $3,880,644 Revenue: $881,926

PREVENTION AND ELIMINATION OF NEIGHBORHOOD DETERIORATION BY SPONSORING, DEVELOPING, OWNING, AND/OR OPERATING QUALITY HOUSING FOR LOW AND MODERATE INCOME RESIDENTS IN HARTFORD COUNTY, CT

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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 $2,216,963

Program Service Revenue $2,430,332

Investment Income $23,481

Other Revenue $158,194

TOTAL REVENUE $4,828,970

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,454,427

Fundraising Expenses $10,923

Program Expenses $5,637,579

Other Expenses $4,580,446

TOTAL EXPENSES $6,034,873

Year-over-Year Comparison

	2023	2022	Change
Revenue	$4,828,970	$4,301,543	+0.1%
Expenses	$6,034,873	$3,413,115	+0.8%
Net Income	$-1,205,903	$888,428	-2.4%

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

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

$169,130

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ANA ALFARO	DIRECTOR	1.00	Director	$0	$0	$0
CALVIN RICHARDSON	DIRECTOR	1.00	Director	$0	$0	$0
CARMENT DIAZ	DIRECTOR	1.00	Director	$0	$0	$0
DAVID SAGERS	DIRECTOR	1.00	Director	$0	$0	$0
EMILY HULTQUIST	PRESIDENT	0.50	Officer Director	$0	$0	$0
FERDINANDO PANICO	DIRECTOR	1.00	Director	$0	$0	$0
GLENN DAVIS	DIRECTOR	1.00	Director	$0	$0	$0
KEN HOUSE	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
MELISSA MCEWEN	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL LENKIEWICZ	TREASURER	0.50	Officer Director	$0	$0	$0
PAULINE YODER	DIRECTOR	1.00	Director	$0	$0	$0
SHAWNETTE TAYLOR	SECRETARY	0.50	Officer Director	$0	$0	$0
CATHERINE MACKINNON	EXECUTIVE DIRECTOR	25.00	Officer	$130,117	$39,013	$169,130
JOSE L VARGAS	DIRECTOR OF PROPERTY MANAGEMENT	40.00	Highest	$103,544	$26,839	$130,383
PAUL GIGUERE	CHIEF OPERATING OFFICER	40.00	Highest	$122,250	$0	$122,250
SARAH C MINER SMITH	DIRECTOR OF REAL ESTATE DEVELOPMENT	40.00	Highest	$104,108	$34,710	$138,818

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	No data	No data	No data	No data
2023	$4,828,970	$6,034,873	$39,586,999	$-1,205,903
2022	$4,301,543	$3,413,115	$38,446,080	$888,428
2021	$3,634,828	$3,235,793	$35,173,874	$399,035
2020	$7,439,225	$3,474,119	$32,014,403	$3,965,106
2019	$2,545,657	$3,249,135	$30,580,761	$-703,478
2018	$4,228,669	$3,316,983	$32,806,780	$911,686

MUTUAL HOUSING ASSOCIATION OF GREATER HARTFORD INC