MERIT HOUSING INCORPORATED

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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

1996

Legal Domicile

Principal Officer

EUNICE BOBERT

Phone

7147711479

Tax Period

2023-01-01 to 2023-12-31

MERIT HOUSING INCORPORATED, founded in 1996, is a community nonprofit in the Housing & Shelter sector that reported $1.6M in total revenue in fiscal year 2023. Revenue surged 616% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.6M, a strong 100% operating margin.

Mission

MERIT HOUSING WAS ESTABLISHED TO EXPAND HOUSING OPPORTUNITIES FOR LOW-INCOME HOUSEHOLDS TO LOW-INCOME FAMILIES AND SENIORS. HOUSING MAY BE PROVIDED BY OWNING PROPERTIES OUTRIGHT OR INDIRECTLY BY PARTICIPATING IN HOUSING PARTNERSHIPS. PRESENTLY MERIT IS PRIMARILY PROVIDING HOUSING THROUGH PARTNERSHIPS.MISSION-BASED PARTICIPATION IN PARTNERSHIPSTO FOSTER HOUSING FOR LOW-INCOME FAMILIES AND SENIORS, MERIT HOUSING, INC. PARTICIPATES IN SECTION 42 LIMITED PARTNERSHIPS WHICH QUALIFY UNDER THE LOW-INCOME HOUSING TAX CREDIT PROGRAM. THE OWNERSHIP PERCENTAGE AS THE NONPROFIT PARTNER IS GENERALLY 1% OR LESS AND FOR MANY PROJECTS THE UP-FRONT CAPITAL CONTRIBUTIONS IS NOT REQUIRED OR INSIGNIFICANT. PARTICIPATION IN HOUSING PARTNERSHIPS IS AN EXTENSION OF THE MISSION TO PROVIDE LONG-TERM AFFORDABLE HOUSING.

Program Service Accomplishments

Program 1

Expenses: $3,947 Revenue: $1,597,635

THE ORGANIZATION CURRENTLY OWNS AND OPERATES 5 LOW INCOME HOUSING RENTAL PROJECTS - 3 AS THE MANAGING GENERAL PARTNER AND 2 AS THE LIMITED PARTNER. THESE RENTAL PROJECTS TOGETHER PROVIDE 581 RENTAL...

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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 $1,597,635

Investment Income $32,757

Other Revenue $0

TOTAL REVENUE $1,630,392

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $3,947

Other Expenses $6,677

TOTAL EXPENSES $6,677

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,630,392	$227,693	+6.2%
Expenses	$6,677	$8,915	-0.3%
Net Income	$1,623,715	$218,778	+6.4%

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
ROBERT WAGNER	CHAIRMAN	0.04	Officer Director	$0	$0	$0
SCOTT PARKER	SECRETARY	0.04	Officer Director	$0	$0	$0
JIM HANSEN	DIRECTOR	0.04	Director	$0	$0	$0
JAN MICKELSON-WEILMUENSTER	CHIEF FINANCIAL OFFICER	0.04	Officer Director	$0	$0	$0
DAVE WEILMUENSTER	DIRECTOR	0.04	Director	$0	$0	$0
EUNICE BOBERT	CHIEF EXECUTIVE OFFICER	0.10	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	No data	No data	No data	No data
2023	$1,630,392	$6,677	$4,215,635	$1,623,715
2022	$227,693	$8,915	$2,582,113	$218,778
2021	$261,531	$8,706	$2,363,335	$252,825
2020	$186,145	$8,615	$2,110,510	$177,530
2019	$210,286	$8,503	$1,932,980	$201,783
2018	$335,263	$10,779	$1,731,197	$324,484