MCCORMICK COUNTY HOUSING FOR AGINGINC (EIN 237377946) - 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

1973

Legal Domicile

Principal Officer

OSCAR NEW

Phone

3363751552

Tax Period

2023-01-01 to 2023-12-31

MCCORMICK COUNTY HOUSING FOR AGINGINC, founded in 1973, is a small nonprofit that reported $775K in total revenue in fiscal year 2023. The organization ran a surplus of $141K, a strong 18% operating margin.

Mission

MCCORMICK COUNTY HOUSING FOR THE AGING, INC., A SOUTH CAROLINA NOT-FOR-PROFIT CORPORATION, WAS INCORPORATED ON APRIL 1, 1974, AND IS A TAX EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE CORPORATION WAS FORMED TO CONSTRUCT, OWN, AND OPERATE APARTMENT COMMUNITIES PURSUANT TO SECTIONS 515(B) AND 521(A) OF THE NATIONAL HOUSING ACT, AS AMENDED. THE CORPORATION OPERATES CHERRY VALLEY (A 24 UNIT COMPLEX), CHERRY MANOR (A 20 UNIT COMPLEX) AND WESTOWNE (A 40 UNIT COMPLEX), ALL LOCATED IN MCCORMICK, SOUTH CAROLINA. MORTGAGE LOANS ARE PROVIDED BY RURAL DEVELOPMENT, DEPARTMENT OF AGRICULTURE, UNDER SECTION 515(B) AND 521(A) OF THE NATIONAL HOUSING ACT. IN ADDITION, THE CORPORATION HAS ENTERED INTO HOUSING ASSISTANCE PAYMENT CONTRACTS (HAP) WITH THE DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT.

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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 (2023)

Revenue Breakdown

Contributions & Grants $622,924

Program Service Revenue $140,591

Investment Income $70

Other Revenue $10,979

TOTAL REVENUE $774,564

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $554,929

Other Expenses $633,274

TOTAL EXPENSES $633,274

Year-over-Year Comparison

	2023	2022	Change
Revenue	$774,564	$804,445	0.0%
Expenses	$633,274	$615,221	+0.0%
Net Income	$141,290	$189,224	-0.3%

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
OSCAR NEW	PRESIDENT	0.50	Officer Director	$0	$0	$0
KASANDRA M HARPER	VICE PRESIDENT	0.50	Officer Director	$0	$0	$0
PATRICIA LEVERETTE	SECRETARY	0.50	Officer Director	$0	$0	$0
ANGELA MARTIN	ASSISTANT SECRETARY	0.50	Officer Director	$0	$0	$0
EDDIE WHITE	MEMBER	0.50	Director	$0	$0	$0
CLAUDE CARTLEDGE	MEMBER	0.50	Director	$0	$0	$0
CHARLES JENNINGS	MEMBER	0.50	Director	$0	$0	$0
FLETCHER PIERCE	MEMBER	0.50	Director	$0	$0	$0
JAMIE HARPER	MEMBER	0.50	Director	$0	$0	$0
DEDRIC WILLIAMS	MEMBER	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	No data	No data	No data	No data
2023	$774,564	$633,274	$1,465,920	$141,290
2022	$804,445	$615,221	$1,420,210	$189,224
2021	$740,320	$701,876	$1,338,484	$38,444
2020	$727,293	$674,997	$1,360,355	$52,296
2019	$732,491	$679,535	$1,376,433	$52,956
2018	$671,641	$652,275	$1,366,121	$19,366

MCCORMICK COUNTY HOUSING FOR AGINGINC