MIDPEN HOUSING CORPORATION (EIN 237089977) - 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

1970

Legal Domicile

Principal Officer

MATTHEW O FRANKLIN

Phone

6503562900

Tax Period

2024-01-01 to 2024-12-31

MIDPEN HOUSING CORPORATION, founded in 1970, is a mid-sized nonprofit in the Housing & Shelter sector that reported $55.4M in total revenue in fiscal year 2024. The organization ran a surplus of $21.9M, a strong 39% operating margin.

Mission

IN CONJUNCTION WITH RELATED ORGANIZATIONS, MIDPEN HOUSING CORPORATION'S MISSION IS TO PROVIDE SAFE, AFFORDABLE HOUSING OF HIGH QUALITY TO THOSE IN NEED; TO ESTABLISH STABILITY AND OPPORTUNITY IN THE LIVES OF RESIDENTS; AND TO FOSTER DIVERSE COMMUNITIES THAT ALLOW PEOPLE FROM ALL ETHNIC, SOCIAL AND ECONOMIC BACKGROUNDS TO LIVE IN DIGNITY, HARMONY, AND MUTUAL RESPECT.

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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 $23,280,682

Program Service Revenue $21,472,229

Investment Income $10,664,781

Other Revenue $0

TOTAL REVENUE $55,417,692

Expense Breakdown

Grants Paid $3,180,356

Salaries & Benefits $19,188,915

Fundraising Expenses $0

Program Expenses $22,509,700

Other Expenses $11,181,296

TOTAL EXPENSES $33,550,567

Year-over-Year Comparison

	2024	2023	Change
Revenue	$55,417,692	$55,697,583	0.0%
Expenses	$33,550,567	$36,466,328	-0.1%
Net Income	$21,867,125	$19,231,255	+0.1%

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

$3,571,873

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ERIC HARRISON	CHAIRPERSON	2.00	Officer Director	$0	$0	$0
JESSICA GARCIA-KOHL	VICE CHAIRPERSON	2.00	Officer Director	$0	$0	$0
JENNIFER MARTINEZ	SECRETARY	2.00	Officer Director	$0	$0	$0
ENRIQUE TORRES	TREASURER	2.00	Officer Director	$0	$0	$0
TERRY FREEMAN	DIRECTOR	2.00	Director	$0	$0	$0
RENEE MCDONNELL	DIRECTOR	2.00	Director	$0	$0	$0
MELANIE MOCK	DIRECTOR	2.00	Director	$0	$0	$0
ELISA DE LAET JAGERSON	DIRECTOR	2.00	Director	$0	$0	$0
JENNIFER HICKS	DIRECTOR	2.00	Director	$0	$0	$0
FAY SIEN GOON	DIRECTOR	2.00	Director	$0	$0	$0
STEPHANIE SONNENSHINE	DIRECTOR	2.00	Director	$0	$0	$0
CHAN U LEE	DIRECTOR	2.00	Director	$0	$0	$0
YUSEF FREEMAN	DIRECTOR	2.00	Director	$0	$0	$0
JONATHAN FEARN	DIRECTOR	2.00	Director	$0	$0	$0
MATTHEW O FRANKLIN	CEO/PRESIDENT/ASST. SECRET	25.00	Officer	$0	$72,431	$716,168
MICHAEL J VERGURA	CFO / ASSISTANT SECRETARY	25.00	Officer	$0	$77,467	$550,709
ANN GOGGINS GREGORY	COO / ASSISTANT SECRETARY	24.50	Officer	$0	$37,560	$381,003
JANINE LIND	COO / ASSISTANT SECRETARY	24.50	Officer	$0	$9,883	$308,244
LANCE SMITH	VP/CORP. COUNSEL & BROKER/ASST. SECRETARY	35.00	Officer	$0	$64,680	$375,051
KASEY ARCHEY	ASSISTANT SECRETARY	0.10	Officer	$0	$25,464	$457,923
JOANNA CARMAN	ASSISTANT SECRETARY	0.00	Officer	$0	$46,342	$395,831
ABIGAIL GOLDWARE POTLURI	ASSISTANT SECRETARY	44.80	Officer	$0	$56,916	$386,944

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	$55,417,692	$33,550,567	$359,107,963	$21,867,125
2023	$55,697,583	$36,466,328	$339,062,142	$19,231,255
2022	$62,012,587	$38,296,668	$303,587,001	$23,715,919
2021	$50,937,724	$22,454,295	$279,122,902	$28,483,429
2020	$65,229,137	$25,042,306	$240,705,920	$40,186,831
2019	$45,987,695	$20,382,885	$187,155,719	$25,604,810
2018	$25,272,018	$19,039,876	$154,540,527	$6,232,142

MIDPEN HOUSING CORPORATION