KENTUCKY HOUSING ASSOCIATION INC C/O SK LEE CPA'S PSC (EIN 311148259) - 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

1960

Legal Domicile

Principal Officer

CHERI JAMES

Phone

2706250130

Tax Period

2023-10-01 to 2024-09-30

KENTUCKY HOUSING ASSOCIATION INC C/O SK LEE CPA'S PSC, founded in 1960, is a small nonprofit that reported $408K in total revenue in fiscal year 2023. Revenue decreased 8% compared to the prior year. The organization ran a surplus of $75K, a strong 18% operating margin.

Mission

PROVIDING TRAINING AND EDUCATION FOR MEMBERS OF HOUSING ASSOCIATIONS WITHIN KENTUCKY.

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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 $407,710

Investment Income $0

Other Revenue $0

TOTAL REVENUE $407,710

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $312,428

Other Expenses $332,363

TOTAL EXPENSES $332,363

Year-over-Year Comparison

	2023	2022	Change
Revenue	$407,710	$445,088	-0.1%
Expenses	$332,363	$406,669	-0.2%
Net Income	$75,347	$38,419	+1.0%

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

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
LEONA ADKINS	DIRECTOR AT	N/A	Director	$0	$0	$0
ANETA GRUGIN	DISTRICT 2	N/A	Director	$0	$0	$0
ROBERT HAYES	EDITOR & DIS	N/A	Officer Director	$0	$0	$0
PETER JONES	DISTRICT 3	N/A	Director	$0	$0	$0
JEWEL MCINTOSH	DISTRICT 1	N/A	Director	$0	$0	$0
SHAUNA BOOM	FORMER PRESI	N/A	Officer	$0	$0	$0
CINDY BOWEN	TREASURER	N/A	Officer	$0	$0	$0
JENNY CHEEK	SECRETARY	N/A	Officer	$0	$0	$0
LEIGHANN COREY	VP SECTION 8	N/A	Officer	$0	$0	$0
MATT COX	VP PUBLIC HO	N/A	Officer	$0	$0	$0
FAITH DAY	VP MAINTENAN	N/A	Officer	$0	$0	$0
CHERI JAMES	PRESIDENT	N/A	Officer	$0	$0	$0
DIONE KINMAN	VICE PRESIDE	N/A	Officer	$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	$407,710	$332,363	$316,904	$75,347
2023	$445,088	$406,669	$241,557	$38,419
2022	$288,116	$336,868	$203,138	$-48,752
2021	$158,820	$119,900	$252,238	$38,920
2020	$139,308	$100,093	$211,070	$39,215
2019	$336,606	$309,745	$173,758	$26,861

KENTUCKY HOUSING ASSOCIATION INC C/O SK LEE CPA'S PSC