AFFORDABLE HOUSING ACCESS INC

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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

1999

Legal Domicile

Principal Officer

VASILIOS SALAMANDRAKIS

Phone

9492533120

Tax Period

2023-01-01 to 2023-12-31

AFFORDABLE HOUSING ACCESS INC, founded in 1999, is a mid-sized nonprofit in the Housing & Shelter sector that reported $14.9M in total revenue in fiscal year 2023. Revenue surged 22% from the prior year, signaling strong growth momentum. Net assets of $30.4M represent 25 months of operating reserves.

Mission

TO ALLEVIATE THE CRITICAL SHORTAGE OF AFFORDABLE HOUSING OPPORTUNITIES FOR LOW MODERATE INCOME, HANDICAPPED AND ELDERLY PERSONS. TO ACCOMPLISH THIS GOAL, THE ORGANIZATION ORGANIZES PARTNERSHIPS THAT CONSTRUCT, ACQUIRE, REHABILITATE AND PRESERVE AFFORDABLE MULTI-FAMILY HOUSING.

Program Service Accomplishments

Program 1

Expenses: $13,750,233 Revenue: $12,120,272

THE ORGANIZATION PROVIDES AFFORDABLE HOUSING FOR LOW-INCOME PERSONS AND SERVES AS AN OWNER OR GENERAL PARTNER OF LIMITED PARTNERSHIPS OR JOINT VENTURES THAT OWN AFFORDABLE HOUSING FOR THE BENEFIT OF LOW-INCOME PERSONS. THEY ALSO PROVIDE SOCIAL SERVICE OUTREACH VENTURES AIMED AT EMPOWERING BOTH LOW-INCOME INDIVIDUALS AND THEIR COMMUNITIES. AS AN INDICATION OF ITS SUCCESS, THE ORGANIZATION HAS OWNERSHIP OR BENEFICIAL INTERESTS IN 21,959 DWELLING UNITS IN 179 SEPARATE HOUSING COMMUNITIES THROUGHOUT CALIFORNIA, ARIZONA, FLORIDA, OHIO, OREGON, TEXAS, AND WASHINGTON.

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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 $823,761

Program Service Revenue $5,232,738

Investment Income $1,764,869

Other Revenue $7,076,777

TOTAL REVENUE $14,898,145

Expense Breakdown

Grants Paid $876,570

Salaries & Benefits $5,287,398

Fundraising Expenses $39,536

Program Expenses $13,750,233

Other Expenses $8,608,890

TOTAL EXPENSES $14,772,858

Year-over-Year Comparison

	2023	2022	Change
Revenue	$14,898,145	$12,245,141	+0.2%
Expenses	$14,772,858	$11,669,374	+0.3%
Net Income	$125,287	$575,767	-0.8%

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

$3,223,145

Total Directors

$1,027,134

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
WILLIAM W HIRSCH	DIRECTOR/CHIEF EXECUTIVE OFFICER	40.00	Officer Director	$729,371	$44,080	$773,451
VASILIOS SALAMANDRAKIS	PRESIDENT	40.00	Officer	$527,357	$121,534	$648,891
SHAWN R BOYD	CHIEF INVESTMENT OFFICER/EXEC. VP	40.00	Officer	$485,549	$146,034	$631,583
HILDA L JUSUF	CHIEF FINANCIAL OFFICER/SECRETARY	40.00	Officer	$445,832	$122,629	$568,461
SCOTT S STEPHENS	VICE PRESIDENT, ASSET MANAGEMENT	40.00	Officer	$237,188	$109,888	$347,076
JONATHAN B WEBB	DIRECTOR/CHIEF PHILANTHROPY OFFICER	40.00	Officer Director	$223,810	$29,873	$253,683
HAYDEE LEOWARDY	ASSET MANAGER	40.00	Highest	$153,720	$49,014	$202,734
INEKE K ANDERSON	CONTROLLER	40.00	Highest	$117,180	$71,452	$188,632
DESIREE D BOLLER	ASSET MANAGER	40.00	Highest	$106,470	$79,818	$186,288
MARK A DEMKIW	ASSET MANAGER	40.00	Highest	$132,000	$29,549	$161,549
JESSICA S MARTINI	ACCOUNTING/OFFICE MANAGER	40.00	Highest	$122,850	$35,522	$158,372
KRISTIN B BYRNES	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL J GOODMAN	DIRECTOR	1.00	Director	$0	$0	$0
MATTHEW B KAUFMAN	DIRECTOR	1.00	Director	$0	$0	$0
JAMES A MICKLE	DIRECTOR	1.00	Director	$0	$0	$0
EILEEN E PADBERG	DIRECTOR	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	$14,898,145	$14,772,858	$80,525,977	$125,287
2022	$12,245,141	$11,669,374	$80,590,550	$575,767
2021	$8,914,111	$10,858,067	$56,686,131	$-1,943,956
2020	$10,968,970	$9,469,048	$45,317,143	$1,499,922
2019	$12,858,305	$9,128,825	$43,580,362	$3,729,480
2018	$11,121,198	$8,405,366	$38,981,201	$2,715,832