RED BANK AFFORDABLE HOUSING CORPORATION (EIN 261590898) - 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

Pastor Terrence Porter

Phone

2019434449

Tax Period

2023-01-01 to 2023-12-31

RED BANK AFFORDABLE HOUSING CORPORATION, founded in 2008, is a micro nonprofit in the Housing & Shelter sector that reported $18K in total revenue in fiscal year 2023. Expenses of $21K exceeded revenue, resulting in a 20% operating deficit.

Mission

TO DEVELOP AND MANAGE HOUSING FOR LOW AND MODERATE INCOME FAMILIES AS WELL AS ASSIST IN CERTIFING ELIGIBLE FAMILIES FOR LOW AND MODERATE INCOME HOUSING

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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 $17,560

Investment Income $0

Other Revenue $0

TOTAL REVENUE $17,560

Expense Breakdown

Grants Paid $0

Salaries & Benefits $15,007

Fundraising Expenses $0

Program Expenses $21,143

Other Expenses $6,136

TOTAL EXPENSES $21,143

Year-over-Year Comparison

	2023	2022	Change
Revenue	$17,560	$16,550	+0.1%
Expenses	$21,143	$49,134	-0.6%
Net Income	$-3,583	$-32,584	-0.9%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Rev Terrence Porter	President	2.00	Officer	$0	$0	$0
Renee Harris	Vice President	1.00	Director	$0	$0	$0
Larry Leverette	Trustee	1.00	Director	$0	$0	$0
Nichoele Peguese	Treasurer	1.00	Officer	$0	$0	$0
Gary Moore	Trustee	1.00	Director	$0	$0	$0
Nina Norman	Trustee	1.00	Director	$0	$0	$0
Alpha Reynolds-Lewis	Trustee	1.00	Director	$0	$0	$0
Ann Wolf	Trustee	1.00	Director	$0	$0	$0
Kathleen Williams	Trustee	1.00	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	$17,560	$21,143	$831	$-3,583
2022	$16,550	$49,134	$5,043	$-32,584
2021	$19,651	$50,030	$37,627	$-30,379
2020	$26,450	$53,499	$68,007	$-27,049
2019	$14,042	$55,372	$95,537	$-41,330
2018	$19,493	$34,334	$137,128	$-14,841

RED BANK AFFORDABLE HOUSING CORPORATION