SOMERSET LUTHERAN HOUSING COMMUNITY INC (EIN 261485070) - 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

2008

Legal Domicile

Principal Officer

CHRISTOPHER REIGHARD

Phone

8146964500

Tax Period

2023-01-01 to 2023-12-31

SOMERSET LUTHERAN HOUSING COMMUNITY INC, founded in 2008, is a small nonprofit in the Housing & Shelter sector that reported $136K in total revenue in fiscal year 2023. Revenue decreased 6% compared to the prior year. Expenses of $309K exceeded revenue, resulting in a 128% operating deficit.

Mission

TO PROVIDE HOUSING FOR LOW INCOME ELDERLY OR HANDICAPPED FAMILIES.

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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 $0

Program Service Revenue $131,019

Investment Income $153

Other Revenue $4,454

TOTAL REVENUE $135,626

Expense Breakdown

Grants Paid $0

Salaries & Benefits $6,944

Fundraising Expenses $0

Program Expenses $260,134

Other Expenses $301,844

TOTAL EXPENSES $308,788

Year-over-Year Comparison

	2023	2022	Change
Revenue	$135,626	$144,667	-0.1%
Expenses	$308,788	$290,154	+0.1%
Net Income	$-173,162	$-145,487	+0.2%

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

Volunteers

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

$591,461

Total Directors

$282,730

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BISHOP GREGORY R PILE	PRESIDENT	1.00	Officer Director	$0	$0	$0
THOMAS BRADLEY	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
WILLIAM D THOMPSON III	SECRETARY/TREASURER	1.00	Officer Director	$0	$0	$0
REV LARRY HOOVER	TRUSTEE	1.00	Director	$0	$0	$0
DR PATRICIA W SAVAGE	PRESIDENT/CEO (RET 3/2024)	2.00	Officer Director	$0	$0	$282,730
WILLIAM LLOYD	TRUSTEE	1.00	Director	$0	$0	$0
CHRISTOPHER J REIGHARD	CFO/INTERIM CEO (3/2024)	2.00	Officer	$0	$47,700	$308,731

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	$135,626	$308,788	$1,945,311	$-173,162
2022	$144,667	$290,154	$2,019,076	$-145,487
2021	$134,952	$271,058	$2,144,532	$-136,106
2020	$148,747	$280,349	$2,315,854	$-131,602
2019	$154,214	$311,677	$2,294,946	$-157,463
2018	$155,672	$309,495	$2,455,412	$-153,823

SOMERSET LUTHERAN HOUSING COMMUNITY INC