HOUSING ASSOCIATION AND DEVELOPMENT CORPORATION (EIN 232118810) - Form 990 Financial Analysis & Trantor Score

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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

1978

Legal Domicile

Principal Officer

KENNETH REMICK

Phone

2675663638

Tax Period

2024-07-01 to 2025-06-30

HOUSING ASSOCIATION AND DEVELOPMENT CORPORATION, founded in 1978, is a small nonprofit in the Housing & Shelter sector that reported $373K in total revenue in fiscal year 2024. Revenue fell 80% from the prior year — a significant decline worth monitoring. Expenses of $410K exceeded revenue, resulting in a 10% operating deficit.

Mission

ELIMINATE BLIGHTED HOUSING CONDITIONS IN THE CITY OF ALLENTOWN'S NEIGHBORHOODS AND TO INCREASE AVAILABILITY OF HOUSING OPPORTUNITIES FOR LOW INCOME RESIDENTS BY PURCHASING VACANT, DETERIORATED RESIDENTIAL PROPERTIES AND TOTALLY REHABILITATE THE UNITS FOR RESALE OR RENT.

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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 $37,689

Program Service Revenue $95,275

Investment Income $239,692

Other Revenue $0

TOTAL REVENUE $372,656

Expense Breakdown

Grants Paid $0

Salaries & Benefits $216,360

Fundraising Expenses $8,698

Program Expenses $337,440

Other Expenses $193,716

TOTAL EXPENSES $410,076

Year-over-Year Comparison

	2024	2023	Change
Revenue	$372,656	$1,876,148	-0.8%
Expenses	$410,076	$2,261,642	-0.8%
Net Income	$-37,420	$-385,494	-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

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

$86,538

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAVID SHERWIN	TREASURER	2.00	Officer Director	$0	$0	$0
KENNETH REMICK	PRESIDENT	2.00	Officer Director	$0	$0	$0
REV RICHARD BAUMANN	DIRECTOR	2.00	Director	$0	$0	$0
REV JOHN GIBBONS	DIRECTOR	2.00	Director	$0	$0	$0
DANIEL C BOSKET	DIRECTOR	2.00	Director	$0	$0	$0
RON CLEVER ESQ	DIRECTOR	2.00	Director	$0	$0	$0
TARA CASTRO	DIRECTOR	2.00	Director	$0	$0	$0
AARON FULLILOVE	DIRECTOR	2.00	Director	$0	$0	$0
STEVE LANSHE	DIRECTOR	2.00	Director	$0	$0	$0
DAVID EVANS	EXECUTIVE DIRECTOR	40.00	Officer	$86,538	$0	$86,538

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	$372,656	$410,076	$17,484	$-37,420
2024	No data	No data	No data	No data
2023	$1,440,256	$1,002,833	$3,494,074	$437,423
2022	$1,505,738	$1,547,778	$2,961,190	$-42,040
2021	$1,165,264	$1,176,593	$2,981,803	$-11,329
2020	$1,086,379	$1,271,285	$3,049,370	$-184,906
2019	$1,454,225	$1,767,779	$2,826,068	$-313,554
2018	$1,876,306	$1,638,817	$3,279,640	$237,489

HOUSING ASSOCIATION AND DEVELOPMENT CORPORATION