Lima, OH
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)New Lima-Housing for the Future, founded in 2000, is a community nonprofit in the Housing & Shelter sector that reported $1.3M in total revenue in fiscal year 2023. Revenue surged 119% from the prior year, signaling strong growth momentum. The organization ran a surplus of $617K, a strong 49% operating margin.
To provide housing opportunities and assistance for all low and moderate-income residents through a comprehensive program of financial assistance and education. New Lima Housing for the Future works with the City of Lima, Allen County, Ohio and Lima City Schools in an effort to further develop school sites within the CDBG target areas. Efforts within the low and moderate-income community is its focus: cooperation, communication and collaboration, its means.
CHDO/Affordable Housing Development:New Lima Housing for the Future utilizes grant funds, often from multiple funding sources, to develop low-to-moderate income housing for the citizens in our...
CHDO/Affordable Housing Development:New Lima Housing for the Future utilizes grant funds, often from multiple funding sources, to develop low-to-moderate income housing for the citizens in our service area. Low-to-moderate income is defined as households earning at or below 80% of the area median income level. The Organization has developed smaller in-fill single-family homeownership units up to partnering with for profit development partners on tax credit rental developments as large as 88 living units. New Lima Housing for the Future is the sole, certified Community Housing Development Organization (CHDO) for the City of Lima. The Organization has held this role since 2003. Being a certified CHDO allows our organization access to grant funds through the HOME Investment Partnership program, which the City of Lima receives annually. These funds are used by the Organization to fund affordable housing development within the Lima community.
Property Management:To date, New Lima Housing for the Future has developed a total of 26 senior rental units which are owned directly by and continue to be managed by the Organization. A few of the...
Property Management:To date, New Lima Housing for the Future has developed a total of 26 senior rental units which are owned directly by and continue to be managed by the Organization. A few of the day-to-day activities involved in management of these units include: accounts payable & receivable, maintenance/grounds/upkeep activities, scheduling vendors, tenant selection & leasing, and annual recertifications of resident households.
Down Payment Assistance:New Lima Housing for the Future provides the administrative support for the First Home Lima Down Payment Assistance Program which is in partnership with West Ohio Community...
Down Payment Assistance:New Lima Housing for the Future provides the administrative support for the First Home Lima Down Payment Assistance Program which is in partnership with West Ohio Community Action Partnership and the City of Lima. The Organizations role in this program includes: vetting/processing applications from potential first time home buyers, tracking client progress, semi-annual recertifications and providing a pre-closing review of each home purchase.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2023 | 2022 | Change | |
|---|---|---|---|
| Revenue | $1,255,054 | $574,227 | +1.2% |
| Expenses | $637,829 | $287,559 | +1.2% |
| Net Income | $617,225 | $286,668 | +1.2% |
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
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| Scott Frenger | Executive Director | 40.00 |
|
$80,295 | $0 | $80,295 |
| Miriam Adams | Board Member | 1.00 |
Director
|
$0 | $0 | $0 |
| Ramona Hucks | Vice President | 1.00 |
Officer
|
$0 | $0 | $0 |
| Jacqueline Daley-Perrin | President | 1.00 |
Officer
|
$0 | $0 | $0 |
| Cynthia Davis-White | Secretary | 1.00 |
Officer
|
$0 | $0 | $0 |
| Ginger Loscavo | Treasurer | 1.00 |
Officer
|
$0 | $0 | $0 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2024 | No data | No data | No data | No data |
| 2023 | $1,255,054 | $637,829 | $4,325,383 | $617,225 |
| 2022 | $574,227 | $287,559 | $3,768,988 | $286,668 |
| 2021 | $600,515 | $469,634 | $3,462,151 | $130,881 |
| 2020 | $440,081 | $256,729 | $3,239,591 | $183,352 |
| 2019 | $234,963 | $227,619 | $3,056,482 | $7,344 |
| 2018 | $505,596 | $216,483 | $2,714,257 | $289,113 |
Compare New Lima-Housing for the Future with other nonprofits in Ohio and across the country.