HOUSING ASSISTANCE CORPORATION (EIN 237431255) - 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

1974

Legal Domicile

Principal Officer

BILL BOGDANOVICH

Phone

5087715400

Tax Period

2024-07-01 to 2025-06-30

HOUSING ASSISTANCE CORPORATION, founded in 1974, is a mid-sized nonprofit in the Housing & Shelter sector that reported $56.8M in total revenue in fiscal year 2024. Revenue grew 19% year-over-year, indicating healthy expansion. Expenses of $50.5M left a modest 11% surplus.

Mission

HAC'S MISSION IS TO PROMOTE AND IMPLEMENT THE RIGHT OF ALL PEOPLE ON CAPE COD AND THE ISLANDS TO OCCUPY SAFE AND AFFORDABLE HOUSING. TO ACHIEVE THIS GOAL, HAC HAS CONCENTRATED ITS MAJOR PROGRAMS AROUND RENTAL SUBSIDIES, SHELTER SERVICES, CONSUMER EDUCATION, AND RESIDENTIAL ENERGY EFFICIENCY.

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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 $47,202,396

Program Service Revenue $8,986,687

Investment Income $631,862

Other Revenue $-42,922

TOTAL REVENUE $56,778,023

Expense Breakdown

Grants Paid $33,993,019

Salaries & Benefits $10,367,526

Fundraising Expenses $1,801,522

Program Expenses $45,218,018

Other Expenses $6,115,465

TOTAL EXPENSES $50,476,010

Year-over-Year Comparison

	2024	2023	Change
Revenue	$56,778,023	$47,617,428	+0.2%
Expenses	$50,476,010	$46,826,237	+0.1%
Net Income	$6,302,013	$791,191	+7.0%

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

142

Volunteers

600

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

$627,677

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ALEX RODOLAKIS	DIRECTOR	1.00	Director	$0	$0	$0
ASHLEY MOORE BAKER	CLERK	1.00	Officer Director	$0	$0	$0
BILL BOGDANOVICH	CHAIRMAN	1.00	Officer Director	$0	$0	$0
CATHY GIBSON	DIRECTOR	1.00	Director	$0	$0	$0
KARA O'DONNELL-GALVIN	DIRECTOR	1.00	Director	$0	$0	$0
KUMARA SIDHARTHA	DIRECTOR	1.00	Director	$0	$0	$0
LIAM CAHILL	DIRECTOR	1.00	Director	$0	$0	$0
LINDA ZAMMER	DIRECTOR	1.00	Director	$0	$0	$0
MARGARET HAYES	DIRECTOR	1.00	Director	$0	$0	$0
MAUREEN MCLAUGHLIN	DIRECTOR	1.00	Director	$0	$0	$0
PAUL RUCHINSKAS	TREASURER	1.00	Officer Director	$0	$0	$0
PETER FREEMAN	VICE CHAIRMAN	1.00	Officer Director	$0	$0	$0
RAYMOND TAMASI	DIRECTOR	1.00	Director	$0	$0	$0
SUSAN ROHRBACH	DIRECTOR	1.00	Director	$0	$0	$0
TARA WALLACE	DIRECTOR	1.00	Director	$0	$0	$0
ALISA MAGNOTTA	CEO	35.00	Officer	$250,624	$33,385	$284,009
JANE HAMMOND	INTERIM CFO (AS OF 4/25)	35.00	Officer	$119,047	$16,946	$135,993
STEPHEN FERRIS	CFO (UNTIL 3/25)	35.00	Officer	$175,394	$32,281	$207,675
ANNE VAN VLECK	CHIEF DEVELOPMENT OFFICER	35.00	Highest	$131,045	$43,549	$174,594
CASSANDRA DANZL	CHIEF OPERATING OFFICER	35.00	Highest	$155,559	$17,939	$173,498
DAVID QUINN	VP OF REAL ESTATE DEVELOPMENT	35.00	Highest	$126,966	$16,540	$143,506
DONALD TROTT	DIRECTOR OF HOUSING	35.00	Highest	$120,556	$30,030	$150,586
PATRICIA MITROKOSTAS	PRINCIPAL DIRECTOR OF STRATEGIC FUNDING	35.00	Highest	$111,405	$15,532	$126,937

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
2025	$56,778,023	$50,476,010	$47,445,734	$6,302,013
2024	$47,617,428	$46,826,237	$28,353,986	$791,191
2023	$37,056,441	$36,207,096	$21,329,167	$849,345
2022	$36,246,807	$35,829,884	$20,544,372	$416,923
2021	$31,840,073	$30,324,059	$23,451,623	$1,516,014
2020	$27,429,095	$26,518,960	$19,460,978	$910,135
2019	$25,334,411	$25,188,389	$15,865,342	$146,022
2018	$24,627,526	$24,064,052	$16,205,392	$563,474

HOUSING ASSISTANCE CORPORATION