Mutual Housing of Norwalk & Fairfi… - 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

2003

Legal Domicile

Principal Officer

Adam Bovilsky

Phone

2033541814

Tax Period

2024-01-01 to 2024-12-31

Mutual Housing of Norwalk & Fairfield County Inc, founded in 2003, is a micro nonprofit in the Housing & Shelter sector that reported $46K in total revenue in fiscal year 2024. Revenue surged 1604% from the prior year, signaling strong growth momentum. Expenses of $65K exceeded revenue, resulting in a 40% operating deficit.

Mission

Develop,own and manage housing for families with low or moderate income

Program Service Accomplishments

Program 1

Expenses: $65,010 Revenue: $2,720

10 Unit housing complex serving low income individuals and land lease for low income housing. the facility is currently vacant due to structural issues.

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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 $43,642

Program Service Revenue $2,720

Investment Income $0

Other Revenue $0

TOTAL REVENUE $46,362

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $65,010

Other Expenses $65,010

TOTAL EXPENSES $65,010

Year-over-Year Comparison

	2024	2023	Change
Revenue	$46,362	$2,720	+16.0%
Expenses	$65,010	$-29,187	-3.2%
Net Income	$-18,648	$31,907	-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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Adam Bovilsky	President	1.00	Officer Director	$0	$0	$0
Liza Bermudez-Montgomery	Vice Chair	1.00	Officer Director	$0	$0	$0
Isaac Wolcott	Commissioner	1.00	Director	$0	$0	$0
John Church	Treasurer	1.00	Officer Director	$0	$0	$0
Brenda Penn Williams	Chair	2.00	Officer Director	$0	$0	$0
Teneshia Jacobs	Commissioner	0.50	Director	$0	$0	$0

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	$46,362	$65,010	$119,748	$-18,648
2023	$2,720	$-29,187	$125,325	$31,907
2022	$3,960	$44,436	$141,879	$-40,476
2021	$34,403	$117,899	$144,615	$-83,496
2021	$34,403	$117,899	$144,615	$-83,496
2020	$55,425	$67,103	$159,178	$-11,678
2019	$59,619	$78,228	$172,162	$-18,609
2018	$59,774	$69,227	$176,836	$-9,453

Mutual Housing of Norwalk & Fairfield County Inc