NEW MILFORD AFFORDABLE HOUSING INC

EIN: 223112583 501(c)(3)

NEW MILFORD, CT

Total Revenue
$307,825
Total Expenses
$338,635
Total Assets
$5,322,090
Net Assets
$2,297,252
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1990
Legal Domicile
CT
Principal Officer
THERESA MCSPEDON
Phone
8602106037
Tax Period
2023-07-01 to 2024-06-30

NEW MILFORD AFFORDABLE HOUSING INC, founded in 1990, is a small nonprofit that reported $308K in total revenue in fiscal year 2023. Revenue decreased 12% compared to the prior year. Expenses of $339K exceeded revenue, resulting in a 10% operating deficit.

Mission

TO PROVIDE SUPPORTIVE AND AFFORDABLE HOUSING TO THOSE RESIDENTS MOST IN NEED IN THE GREATER NEW MILFORD AREA.

Program Service Accomplishments

Program 1
Expenses: $259,730 Revenue: $302,064

TO PROVIDE SUPPORTIVE AND AFFORDABLE HOUSING TO THE GREATER NEW MILFORD AREA RESIDENTS

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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 (2023)

Revenue Breakdown

Contributions & Grants $5,761
Program Service Revenue $206,533
Investment Income $95,531
Other Revenue $0
TOTAL REVENUE $307,825

Expense Breakdown

Grants Paid $0
Salaries & Benefits $69,520
Fundraising Expenses $0
Program Expenses $259,730
Other Expenses $269,115
TOTAL EXPENSES $338,635

Year-over-Year Comparison

2023 2022 Change
Revenue $307,825 $350,056 -0.1%
Expenses $338,635 $366,023 -0.1%
Net Income $-30,810 $-15,967 +0.9%
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

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Liquidity & Cash Position

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Governance

Voting Members
4
Independent Members
4
Employees
1
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
3
$64,420
Total Directors
4
$64,420
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MARTHA MCMAHON SECRETARY 3.00
Officer Director
$0 $0 $0
MARY JANE LUNDGREN PRESIDENT 1.00
Officer Director
$0 $0 $0
CAPPY TEMPLE DIRECTOR 1.00
Director
$0 $0 $0
THERESA MCSPEDON TREASURER AND EXECUTIVE DI 3.00
Officer Director
$64,420 $0 $64,420
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 No data No data No data No data
2024 $307,825 $338,635 $5,322,090 $-30,810
2023 $350,056 $366,023 $5,396,064 $-15,967
2022 $183,272 $419,645 $5,431,320 $-236,373
2021 $238,623 $402,134 $5,693,568 $-163,511
2020 $225,726 $244,124 $5,113,222 $-18,398
2019 $539,324 $90,263 $5,168,882 $449,061
2018 $38,258 $154,345 $4,019,347 $-116,087
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