NORWICH HOUSING CORPORATION INC (EIN 352037592) - 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

1926

Legal Domicile

Principal Officer

JAMES POWELL

Phone

3178241881

Tax Period

2023-07-01 to 2024-06-30

NORWICH HOUSING CORPORATION INC, founded in 1926, is a small nonprofit that reported $427K in total revenue in fiscal year 2023. Revenue surged 58% from the prior year, signaling strong growth momentum. Expenses of $537K exceeded revenue, resulting in a 26% operating deficit.

Mission

THE NORWICH HOUSING CORPORATION PROVIDES FUNDING TO MEMBER ALUMNI CORPORATIONS WHICH PROVIDE HOUSING OPPORTUNITIES FOR THEIR UNDERGRADUATE STUDENT MEMBERS.

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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 $328,530

Investment Income $98,396

Other Revenue $0

TOTAL REVENUE $426,926

Expense Breakdown

Grants Paid $10,000

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $527,282

TOTAL EXPENSES $537,282

Year-over-Year Comparison

	2023	2022	Change
Revenue	$426,926	$270,257	+0.6%
Expenses	$537,282	$463,634	+0.2%
Net Income	$-110,356	$-193,377	-0.4%

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

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
JOE L CLACK	PRESIDENT	4.00	Officer Director	$0	$0	$0
PETER S MACKEY	VICE PRESIDENT	3.00	Officer Director	$0	$0	$0
ERIC W RAASCH	TREASURER	2.00	Officer Director	$0	$0	$0
DOUGLAS M ALLEN	SECRETARY	2.00	Officer Director	$0	$0	$0
JOSEPH S COUCH	COUNSELOR	2.00	Officer 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
2025	No data	No data	No data	No data
2024	$426,926	$537,282	$10,629,059	$-110,356
2023	$270,257	$463,634	$10,521,949	$-193,377
2022	$424,456	$369,563	$10,281,807	$54,893
2021	$443,931	$316,539	$9,569,517	$127,392
2020	$297,655	$429,770	$9,291,786	$-132,115
2019	$229,049	$322,141	$9,310,543	$-93,092
2018	$375,387	$309,180	$9,304,684	$66,207

NORWICH HOUSING CORPORATION INC