ADVANCE HOUSING INC

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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

1996

Legal Domicile

Principal Officer

CAROLYN JAIME LCSW

Phone

2014989140

Tax Period

2023-01-01 to 2023-12-31

ADVANCE HOUSING INC, founded in 1996, is a community nonprofit in the Housing & Shelter sector that reported $5.6M in total revenue in fiscal year 2023.

Mission

THE MISSION OF ADVANCE HOUSING, INC. IS TO EXPAND THE RANGE AND SCOPE OF SUPPORTIVE HOUSING OPPORTUNITIES AVAILABLE TO PERSONS WITH PSYCHIATRIC DISBILITIES. IN ADDITION, WE WILL SEEK TO MAKE SIMILAR OPTIONS AND SERVICES AVAILABLE TO OTHER CONSUMERS WHO ARE IN NEED OF SUPPORTIVE HOUSING.

Program Service Accomplishments

Program 1

Expenses: $989,863 Revenue: $306,057

THE SUPPORTIVE LIVING PROGRAM BERGEN, PROVIDES MENTAL HEALTH CONSUMERS WITH A CHOICE OF PERMANENT, AFFORDABLE, AND SAFE HOUSING. SERVICES ARE FLEXIBLE AND ALLOW CONSUMERS TO MAINTAIN INDEPENDENCE AND LIFESTYLE OF THEIR CHOOSING. A LIMITED SUPPLY OF SCATTER-SITES, AGENCY OWNED HOUSING IS AVAILABLE FOR THIS PROGRAM. SERVICES ARE PROVIDED IN BERGEN COUNTY BY A MULTI-DISCIPLINARY TEAM CAPABLE OF MEETING CONSUMERS NEEDS.

Program 2

Expenses: $476,283 Revenue: $207,830

THE SUPPORTIVE LIVING PROGRAM SUSSEX, PROVIDES MENTAL HEALTH CONSUMERS WITH A CHOICE OF PERMANENT, AFFORDABLE, AND SAFE HOUSING. SERVICES ARE FLEXIBLE AND ALLOW CONSUMERS TO MAINTAIN INDEPENDENCE AND LIFESTYLE OF THEIR CHOOSING. A LIMITED SUPPLY OF SCATTER-SITES, AGENCY OWNED HOUSING IS AVAILABLE FOR THIS PROGRAM. SERVICES ARE PROVIDED IN SUSSEX COUNTYTHE ADVANCE CONSUMER CHOICE & EMPOWERMENT PROGRAM OFFERS CONSUMERS FROM BY A MULTI DISCIPLINARY TEAM CAPABLE OF MEETING CONSUMERS NEEDS.

Program 3

Expenses: $2,574,665 Revenue: $732,181

THE ADVANCE CONSUMER CHOICE & EMPOWERMENT PROGRAM OFFERS CONSUMERS FROM STATE PSYCHIATRIC HOSPITALS AN OPPORTUNITY TO LIVE INDEPENDENTLY IN THEIR OWN ONE BEDROOM APARTMENTS WHILE ALSO RECEIVING...

THE ADVANCE CONSUMER CHOICE & EMPOWERMENT PROGRAM OFFERS CONSUMERS FROM STATE PSYCHIATRIC HOSPITALS AN OPPORTUNITY TO LIVE INDEPENDENTLY IN THEIR OWN ONE BEDROOM APARTMENTS WHILE ALSO RECEIVING INTENSIVE SUPPORT SERVICES. CONSUMERS WILL BE SUPPORTED BY A MULTIDISCIPLINARY TEAM THAT WILL WORK IN COLLABORATION WITH THE CONSUMER AND EXTERNAL SUPPORTS TO PROVIDE THE MOST EFFECTIVE INDIVIDUALIZED TREATMENT SERVICES POSSIBLE, VOCATIONAL ASSISTANCE, MICA COUNSELING IN ADDITION TO AN ARRAY OF OTHER SERVICES.

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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 $4,156,133

Program Service Revenue $1,246,068

Investment Income $84,770

Other Revenue $107,419

TOTAL REVENUE $5,594,390

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,782,789

Fundraising Expenses $0

Program Expenses $4,040,811

Other Expenses $2,651,336

TOTAL EXPENSES $5,434,125

Year-over-Year Comparison

	2023	2022	Change
Revenue	$5,594,390	$5,226,802	+0.1%
Expenses	$5,434,125	$5,505,129	0.0%
Net Income	$160,265	$-278,327	-1.6%

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

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

$405,274

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHARLES HIGGINS	CHAIRMAN	1.00	Officer Director	$0	$0	$0
MARC STURIALE	VICE CHAIR	1.00	Officer Director	$0	$0	$0
SUSAN DEANGELO	SECRETARY	1.00	Officer Director	$0	$0	$0
LYNN LITTERINI	TREASURER (RESIGNED DURING	1.00	Officer Director	$0	$0	$0
DAVE BOWER	TRUSTEE	1.00	Director	$0	$0	$0
SHARON MCKENNA	TRUSTEE	1.00	Director	$0	$0	$0
MICHAEL PEZZILLO	TRUSTEE	1.00	Director	$0	$0	$0
KIMI WEI	TRUSTEE	1.00	Director	$0	$0	$0
BRUCE NUSSMAN	COUNSEL	1.00	Director	$0	$0	$0
GINA SHARPE	TRUSTEE	1.00	Director	$0	$0	$0
JAN FREDERICKS	TRUSTEE	1.00	Director	$0	$0	$0
CAROLYN JAIME LCSW	PRESIDENT AND CEO	35.00	Officer	$174,000	$5,926	$179,926
EVERARD BASCOE	CFO	35.00	Officer	$85,000	$9,324	$94,324
BINA SHAH	COO	35.00	Officer	$104,990	$26,034	$131,024

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	$5,594,390	$5,434,125	$18,765,287	$160,265
2022	$5,226,802	$5,505,129	$19,043,945	$-278,327
2021	$6,195,481	$5,501,656	$19,258,863	$693,825
2020	$5,724,965	$5,472,784	$18,235,216	$252,181
2019	$5,404,994	$5,215,379	$16,095,181	$189,615
2018	$4,840,765	$5,255,108	$16,028,245	$-414,343