MISSION FIRST HOUSING DEVELOPMENT CORPORATION (EIN 271824650) - 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

2010

Legal Domicile

Principal Officer

THOMAS AK QUEENAN

Phone

2155578484

Tax Period

2023-07-01 to 2024-06-30

MISSION FIRST HOUSING DEVELOPMENT CORPORATION, founded in 2010, is a community nonprofit in the Housing & Shelter sector that reported $9.7M in total revenue in fiscal year 2023. The organization ran a surplus of $6.0M, a strong 61% operating margin.

Mission

MFHDC DEVELOPS AFFORDABLE, SAFE AND SUSTAINABLE HOUSING IN THE MID-ATLANTIC REGION.

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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 $6,400,000

Program Service Revenue $2,225,789

Investment Income $678,031

Other Revenue $394,247

TOTAL REVENUE $9,698,067

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,816,861

Fundraising Expenses $0

Program Expenses $1,767,805

Other Expenses $917,037

TOTAL EXPENSES $3,733,898

Year-over-Year Comparison

	2023	2022	Change
Revenue	$9,698,067	$9,940,669	0.0%
Expenses	$3,733,898	$2,499,790	+0.5%
Net Income	$5,964,169	$7,440,879	-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

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

$993,344

Total Directors

Key Employees

$258,637

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
THOMAS AK QUEENAN	PRESIDENT & CEO	1.00	Officer	$0	$8,870	$318,971
CHIP DARLING	VICE PRESIDENT & COO	1.00	Officer	$0	$28,035	$210,122
MARK DEITCHER	ASSISTANT TREASURER, VP	1.00	Officer	$0	$28,390	$221,967
ROBERT KWAIT	ASSISTANT SECRETARY, VP	1.00	Officer	$0	$28,837	$242,284
SARAH S CONSTANT	SENIOR VP, REAL ESTATE DEV	5.00	Key Emp	$230,628	$28,009	$258,637
ELIZABETH EVERHART	SENIOR DEVELOPMENT MANAGER	1.00	Highest	$0	$5,166	$175,068
CHRISTOPHER EVERETT	SENIOR DEVELOPMENT MANAGER	1.00	Highest	$0	$29,643	$162,207

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	No data	No data	No data	No data
2024	$9,698,067	$3,733,898	$58,312,816	$5,964,169
2023	$9,940,669	$2,499,790	$52,975,449	$7,440,879
2022	$6,447,258	$2,601,512	$39,296,357	$3,845,746
2021	$10,576,557	$2,688,613	$36,635,688	$7,887,944
2020	$4,346,026	$2,510,781	$29,488,324	$1,835,245
2018	$8,050,070	$4,120,751	$23,665,397	$3,929,319

MISSION FIRST HOUSING DEVELOPMENT CORPORATION