FLAT ROCK HOMES INC (EIN 344433997) - 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

1974

Legal Domicile

Principal Officer

KAREN L KILGO

Phone

4194837330

Tax Period

2023-01-01 to 2023-12-31

FLAT ROCK HOMES INC, founded in 1974, is a small nonprofit that reported $545K in total revenue in fiscal year 2023. Revenue fell 22% from the prior year — a significant decline worth monitoring. Expenses of $525K left a modest 4% surplus.

Mission

PROVIDE INDEPENDENT LIVING FACILITIES AND THERAPEUTIC SERVICES TO INTELLECTUALLY AND DEVELOPMENTALLY DISABLED CHILDREN AND YOUNG ADULTS THROUGHOUT VARIOUS OHIO COUNTIES. THE GOAL IS TO ENABLE THESE CHILDREN AND YOUNG ADULTS TO ACHIEVE THEIR MAXIMUM POTENTIAL.

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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 $479,346

Program Service Revenue $12,250

Investment Income $31,254

Other Revenue $22,553

TOTAL REVENUE $545,403

Expense Breakdown

Grants Paid $0

Salaries & Benefits $412,926

Fundraising Expenses $436,174

Other Expenses $112,124

TOTAL EXPENSES $525,050

Year-over-Year Comparison

	2023	2022	Change
Revenue	$545,403	$698,334	-0.2%
Expenses	$525,050	$573,597	-0.1%
Net Income	$20,353	$124,737	-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

120

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

$21,776

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KAREN L KILGO	PRESIDENT/CE	10.00	Officer	$21,776	$0	$21,776
ROBERT COLOMBO	BOARD MEMBER	N/A	Director	$0	$0	$0
ADAM CROCKETT	BOARD MEMBER	N/A	Director	$0	$0	$0
REV STACY TERRELL	CHAIR	N/A	Director	$0	$0	$0
REV DONNA VAN TRESS	EX.-OFFICIO	N/A	Director	$0	$0	$0
LORA GOEBEL	SECRETARY	N/A	Officer	$0	$0	$0
DAN JONES	TREASURER	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	No data	No data	No data	No data
2023	$545,403	$525,050	$12,087,742	$20,353
2022	$698,334	$573,597	$11,807,801	$124,737
2021	$679,171	$596,350	$12,064,634	$82,821
2020	$484,086	$299,509	$11,980,098	$184,577
2019	$548,219	$208,522	$11,630,518	$339,697
2019	$548,219	$208,522	$11,630,518	$339,697
2018	$368,742	$217,686	$11,373,174	$151,056

FLAT ROCK HOMES INC