MILAN HOUSING FOR THE ELDERLY 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

1979

Legal Domicile

Principal Officer

TONYA PHILLIPS

Phone

2693889105

Tax Period

2024-01-01 to 2024-12-31

MILAN HOUSING FOR THE ELDERLY INC, founded in 1979, is a small nonprofit that reported $169K in total revenue in fiscal year 2024. Revenue decreased 8% compared to the prior year. Expenses of $191K exceeded revenue, resulting in a 13% operating deficit.

Mission

THE MISSION OF MILAN HOUSING FOR THE ELDERLY, INC. IS TO PROVIDE AND OPERATE RENTAL HOUSING AND RELATED FACILITIES THAT MEET THE SPECIAL NEEDS AND LIVING REQUIREMENTS OF ALL ELIGIBLE OCCUPANTS, AS DETERMINED BY THE RURAL ECONOMIC AND COMMUNITY DEVELOPMENT AGENCY OF THE FARMERS

Program Service Accomplishments

Program 1

Expenses: $157,323 Revenue: $106,991

THE MANAGEMENT AND OPERATION OF 34 APARTMENTS FOR ELIGIBLE LOW INCOME ELDERLY PERSONS IN AND AROUND MILAN, INDIANA.

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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 (2024)

Revenue Breakdown

Contributions & Grants $52,739

Program Service Revenue $106,991

Investment Income $9,195

Other Revenue $0

TOTAL REVENUE $168,925

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $157,323

Other Expenses $190,880

TOTAL EXPENSES $190,880

Year-over-Year Comparison

	2024	2023	Change
Revenue	$168,925	$183,485	-0.1%
Expenses	$190,880	$181,427	+0.1%
Net Income	$-21,955	$2,058	-11.7%

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

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
TONYA PHILLIPS	PRESIDENT	2.00	Officer Director	$0	$0	$0
HOLLY SWEIS	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
MATT KAVANAUGH	VICE PRESIDENT (RETIRED JAN 2024)	2.00	Officer Director	$0	$0	$0
BONNIE SOLTER	TREASURER	2.00	Officer Director	$0	$0	$0
JESSICA HUNTER	TREASURER (RETIRED JAN 2024)	2.00	Officer Director	$0	$0	$0
ZACHARY KINNEY	SECRETARY	2.00	Officer Director	$0	$0	$0
MATTHEW PHILLIPS	MEMBER (RETIRED JAN 2024)	2.00	Director	$0	$0	$0
TRAE HIRT	MEMBER (RETIRED JAN 2024)	2.00	Director	$0	$0	$0
KATIE VONDRA	MEMBER (STARTED JAN 2024)	2.00	Director	$0	$0	$0
HEATHER PEAKE	MEMBER (STARTED JAN 2024)	2.00	Director	$0	$0	$0
LISA HODSON	MEMBER (STARTED JAN 2024)	2.00	Director	$0	$0	$0
MARY ANN WHITAKER	MEMBER (STARTED JAN 2024)	2.00	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	$168,925	$190,880	$135,826	$-21,955
2023	$183,485	$181,427	$158,404	$2,058
2022	$170,669	$178,203	$178,080	$-7,534
2021	$171,374	$158,035	$205,452	$13,339
2020	$164,386	$164,791	$219,693	$-405
2019	$168,839	$176,360	$248,914	$-7,521
2018	$158,593	$178,083	$267,848	$-19,490