WILLOW LUTHERAN HOUSING DEVELOPMENT FUND CO INC

EIN: 223026259 501(c)(3)

JAMESTOWN, NY

Total Revenue
$1,426,463
Total Expenses
$338,941
Total Assets
N/A
Net Assets
N/A
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1990
Legal Domicile
NY
Phone
7166658197
Tax Period
2018-01-01 to 2018-12-31

WILLOW LUTHERAN HOUSING DEVELOPMENT FUND CO INC, founded in 1990, is a community nonprofit that reported $1.4M in total revenue in fiscal year 2018. Revenue surged 311% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.1M, a strong 76% operating margin.

Mission

HUD SUBSIDIZED HOUSING FOR THE ELDERLY

Program Service Accomplishments

Program 1
Expenses: $256,720 Revenue: $233,757

U.S.DEPARTMENT OF HOUSING & URBAN DEVELOPMENT SECTION 207, PURSUANT TO SECTION 223(F) PROJECT. 37 SUBSIDIZED HOUSING UNITS FOR THE ELDERLY AS FURTHER DESCRIBED IN SCHEDULE N, DURING 2018, HUD...

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U.S.DEPARTMENT OF HOUSING & URBAN DEVELOPMENT SECTION 207, PURSUANT TO SECTION 223(F) PROJECT. 37 SUBSIDIZED HOUSING UNITS FOR THE ELDERLY AS FURTHER DESCRIBED IN SCHEDULE N, DURING 2018, HUD APPROVED A PURCHASE AND SALE AGREEMENT WITH HOUSING PRESERVATION, INC. COVERING ALL OF THE PROJECT'S REAL, PERSONAL, AND INTANGIBLE PROPERTY. THE TRANSACTION CLOSED ON AUGUST 31, 2018, WITH ALL RENTAL OPERATIONS CEASING AS OF THAT DATE. THE CORPORATION IS CURRENTLY IN THE PROCESS OF DISSOLVING.

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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 $160,818
Program Service Revenue $72,716
Investment Income $1,192,929
Other Revenue $0
TOTAL REVENUE $1,426,463

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $256,720
Other Expenses $338,941
TOTAL EXPENSES $338,941

Year-over-Year Comparison

2018 2017 Change
Revenue $1,426,463 $347,347 +3.1%
Expenses $338,941 $390,162 -0.1%
Net Income $1,087,522 $-42,815 -26.4%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
14
Independent Members
14
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
6
$683,626
Total Directors
14
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
GARY M JOHNSON TREASURER 0.10
Officer Director
$0 $0 $0
CLARK POPPLETON DIRECTOR 0.10
Director
$0 $0 $0
BRIGETTA OVERCASH SECRETARY 0.10
Officer Director
$0 $0 $0
KAREN RINE VICE CHAIR 0.10
Officer Director
$0 $0 $0
R MICHAEL GOLDMAN DIRECTOR 0.10
Director
$0 $0 $0
TERRY TURNER CHAIR 0.10
Officer Director
$0 $0 $0
REV JOHN MACHOLZ BISHOP DIRECTOR 0.10
Director
$0 $0 $0
ROSLIN NEWTON DIRECTOR 0.10
Director
$0 $0 $0
JOEL GADEN DIRECTOR 0.10
Director
$0 $0 $0
REV ALAN W ANDERSON DIRECTOR 0.10
Director
$0 $0 $0
THEODORE BOGDAN DIRECTOR 0.10
Director
$0 $0 $0
DON S DEAN WEAVER DIRECTOR 0.10
Director
$0 $0 $0
TIMOTHY MAGNUSON DIRECTOR 0.10
Director
$0 $0 $0
J ERIC LIVENGOOD DIRECTOR 0.10
Director
$0 $0 $0
THOMAS E HOLT PRESIDENT/CEO 0.25
Officer
$0 $13,880 $434,664
JASON W BECKWITH CFO 0.25
Officer
$0 $11,988 $248,962
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
2018 $1,426,463 $338,941 No data $1,087,522
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