Duluth, MN
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)FAITH HAVEN INCORPORATED, founded in 1968, is a community nonprofit in the Housing & Shelter sector that reported $1.3M in total revenue in fiscal year 2024. Revenue decreased 9% compared to the prior year. The organization ran a surplus of $498K, a strong 38% operating margin.
Faith Haven, Incorporated was organized to operate a senior citizen apartment complex under the guidelines of the US Department of Housing and Urban Development Section 236.
Faith Haven, Inc., provides safe & affordable housing for people aged 62 or better who are facing financial challenges. The residents must have an income at or below 60% of the area median income...
Faith Haven, Inc., provides safe & affordable housing for people aged 62 or better who are facing financial challenges. The residents must have an income at or below 60% of the area median income. The average annual resident income is $25,000. The average age is 75, and they live here an average of 6.5 years. 65% of our residents are female. For residents who qualify, staff assists in obtaining Housing Choice Vouchers to apply towards rent. Our facility has ten stories, with 123 one bedroom apartments. Residents living on the top three floors enjoy spectacular views of Lake Superior. They have access to a library, beauty shop, fitness center, laundry, and general store, which are all located on site. A Service Coordinator is on staff to assist residents with life challenges.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2024 | 2023 | Change | |
|---|---|---|---|
| Revenue | $1,314,526 | $1,448,194 | -0.1% |
| Expenses | $816,774 | $983,635 | -0.2% |
| Net Income | $497,752 | $464,559 | +0.1% |
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
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| Monica Postlewaite | Manager | 40 |
Key Emp
|
$77,888 | $14,000 | $91,888 |
| Kathy Resberg | President | 5 |
Officer
|
$0 | $0 | $2,350 |
| John Scott | Board Member | 1 |
Director
|
$0 | $0 | $1,875 |
| John Lewis | Treasurer | 1 |
Officer
|
$0 | $0 | $1,750 |
| Charles Bell | Vice President | 1 |
Officer
|
$0 | $0 | $1,625 |
| Dan Donofrio | Board Member | 1 |
Director
|
$0 | $0 | $1,500 |
| Gary Schneider | Board Member | 1 |
Director
|
$0 | $0 | $1,375 |
| George Balach | Board Member | 1 |
Director
|
$0 | $0 | $1,375 |
| Richard Nelson | Board Member | 1 |
Director
|
$0 | $0 | $1,375 |
| Deb Adams-Koltes | Secretary | 1 |
Officer
|
$0 | $0 | $1,250 |
| Elizabeth Davis | Board Member | 1 |
Director
|
$0 | $0 | $1,125 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2025 | $1,314,526 | $816,774 | $3,101,820 | $497,752 |
| 2024 | $1,448,194 | $983,635 | $2,641,634 | $464,559 |
| 2023 | $1,051,474 | $995,372 | $2,165,615 | $56,102 |
| 2022 | $861,128 | $882,542 | $2,125,478 | $-21,414 |
| 2021 | $988,007 | $721,664 | $2,180,543 | $266,343 |
Compare FAITH HAVEN INCORPORATED with other nonprofits in Minnesota and across the country.