AVESTA HOUSING MANAGEMENT CORPORAT… - 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

1974

Legal Domicile

Principal Officer

ERIC BOUCHER

Phone

2075537777

Tax Period

2024-01-01 to 2024-12-31

AVESTA HOUSING MANAGEMENT CORPORATION, founded in 1974, is a mid-sized nonprofit in the Housing & Shelter sector that reported $10.9M in total revenue in fiscal year 2024.

Mission

AVESTA HOUSING MANAGEMENT CORPORATION'S MISSION IS TO IMPROVE LIVES AND STRENGTHEN COMMUNITIES BY PROMOTING AND PROVIDING QUALITY AFFORDABLE HOMES FOR PEOPLE IN NEED.

Program Service Accomplishments

Program 1

Expenses: $9,140,223 Revenue: $10,650,610

ALL EXPENSES RELATE TO THE MANAGEMENT OF AFFORDABLE HOUSING PROPERTIES AND SUPPORT FOR RESIDENTS LIVING IN THOSE PROPERTIES. AVESTA HOUSING MANAGES 100 AFFORDABLE PROPERTIES CONSISTING OF MORE THAN 3,000 APARTMENTS. ALL PROPERTIES MANAGED BY AVESTA HOUSING ARE SUPPORTED BY A TEAM OF PROPERTY MANAGERS, RESIDENT SERVICE COORDINATORS, AND MAINTENANCE TECHNICIANS. THESE TRAINED PROFESSIONALS MAKE SURE THAT BUILDINGS ARE WELL-MAINTAINED, AND THEY ASSIST RESIDENTS WITH MAKING CONNECTIONS TO THE COMMUNITY RESOURCES THEY NEED TO LIVE SAFELY AND COMFORTABLY. THROUGH A PARTNERSHIP WITH PREBLE STREET, AVESTA PROVIDES APARTMENTS AND 24/7 SUPPORT SERVICES TO INDIVIDUALS WHO HAVE EXPERIENCED CHRONIC HOMELESSNESS.

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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 $196,807

Program Service Revenue $10,643,595

Investment Income $15,989

Other Revenue $0

TOTAL REVENUE $10,856,391

Expense Breakdown

Grants Paid $0

Salaries & Benefits $8,308,363

Fundraising Expenses $93,274

Program Expenses $9,140,223

Other Expenses $2,587,119

TOTAL EXPENSES $10,895,482

Year-over-Year Comparison

	2024	2023	Change
Revenue	$10,856,391	$10,605,403	+0.0%
Expenses	$10,895,482	$10,382,026	+0.0%
Net Income	$-39,091	$223,377	-1.2%

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

132

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

$1,393,187

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JIM HANLEY	DIRECTOR	1.00	Director	$0	$0	$0
ALICE KABORE	DIRECTOR	1.00	Director	$0	$0	$0
JANICE DE LIMA	DIRECTOR	1.00	Director	$0	$0	$0
KIMBERLY TWITCHELL	DIRECTOR	1.00	Director	$0	$0	$0
DR RENEE FAY-LEBLANC	VICE CHAIR	1.00	Director	$0	$0	$0
DEBRA ORELLANA-MEJIA	DIRECTOR	1.00	Director	$0	$0	$0
TIMOTHY AGNEW	TREASURER	1.00	Director	$0	$0	$0
PETER BASS	DIRECTOR	1.00	Director	$0	$0	$0
CHOMBA KALUBA	DIRECTOR	1.00	Director	$0	$0	$0
JAMES ELKINS	DIRECTOR	1.00	Director	$0	$0	$0
ANDREA DODGE PATSTONE	CHAIR	1.00	Director	$0	$0	$0
DR JULIA REDDING	DIRECTOR	1.00	Director	$0	$0	$0
LYNNE ROCHE	DIRECTOR	1.00	Director	$0	$0	$0
NATHAN POORE	DIRECTOR	1.00	Director	$0	$0	$0
DOUGLAS STOCKBRIDGE	DIRECTOR	1.00	Director	$0	$0	$0
PETER PITEGOFF	SECRETARY	1.00	Director	$0	$0	$0
AMY SMITH	DIRECTOR	1.00	Director	$0	$0	$0
AMANDA GILLIAM	VP OF PROPERTY MANAGEMENT	40.00	Officer	$134,309	$28,558	$162,867
KIM FARRAR	VP OF STRATEGIC INITIATIVE	1.00	Officer	$0	$18,383	$182,581
ERIC BOUCHER	INTERIM PRESIDENT AND CEO	1.00	Officer	$0	$29,822	$235,529
REBECCA HATFIELD	PRESIDENT (PAST)	1.00	Officer	$0	$23,000	$445,503
KATY SMITH	VP OF SENIOR LIVING	1.00	Officer	$0	$30,500	$197,649
SARA OLSON	VP OF ADVANCEMENT	1.00	Officer	$0	$23,000	$169,058

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	$10,856,391	$10,895,482	$5,398,331	$-39,091
2023	$10,605,403	$10,382,026	$5,487,012	$223,377
2022	$9,393,648	$9,536,291	$4,334,215	$-142,643
2021	$8,258,375	$8,295,246	$3,765,380	$-36,871
2020	$8,272,193	$7,189,574	$3,398,375	$1,082,619
2019	$6,826,932	$6,611,932	$1,864,276	$215,000

AVESTA HOUSING MANAGEMENT CORPORATION