ELIZABETH LAKE NONPROFIT HOUSING C… - Form 990 Financial Data

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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

2001

Legal Domicile

Principal Officer

KEVIN WIEDELMAN

Phone

2489280111

Tax Period

2024-01-01 to 2024-12-31

ELIZABETH LAKE NONPROFIT HOUSING CORPORATION, founded in 2001, is a small nonprofit in the Housing & Shelter sector that reported $296K in total revenue in fiscal year 2024. Expenses of $333K exceeded revenue, resulting in a 12% operating deficit.

Mission

TO PROVIDE LOW INCOME HOUSING TO INDIVIDUALS WITH DISABILITIES.

Program Service Accomplishments

Program 1

Expenses: $263,207 Revenue: $149,449

ELIZABETH LAKE NON-PROFIT HOUSING CORPORATION, IS A NOT-FOR-PROFIT CORPORATION FORMED IN ACCORDANCE WITH THE NOT-FOR-PROFIT STATUTES OF THE STATE OF MICHIGAN. THE CORPORATION WAS FORMED FOR THE...

ELIZABETH LAKE NON-PROFIT HOUSING CORPORATION, IS A NOT-FOR-PROFIT CORPORATION FORMED IN ACCORDANCE WITH THE NOT-FOR-PROFIT STATUTES OF THE STATE OF MICHIGAN. THE CORPORATION WAS FORMED FOR THE PURPOSE OF OPERATING TEN RESIDENCES KNOWN AS SPRINGHILL III LOCATED IN THE METRO DETROIT AREA, WHICH PROVIDES HOUSING FOR PERSONS WITH DEVELOPMENTAL DISABILITIES PURSUANT TO SECTION 811 OF THE NATIONAL HOUSING ACT, AS AMENDED.

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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 $146,135

Program Service Revenue $149,449

Investment Income $362

Other Revenue $0

TOTAL REVENUE $295,946

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $263,207

Other Expenses $332,708

TOTAL EXPENSES $332,708

Year-over-Year Comparison

	2024	2023	Change
Revenue	$295,946	$279,869	+0.1%
Expenses	$332,708	$321,650	+0.0%
Net Income	$-36,762	$-41,781	-0.1%

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
KEVIN WIEDELMAN	PRESIDENT	0.50	Officer Director	$0	$0	$0
DEREK GIRTON	VICE PRESIDENT	0.50	Officer Director	$0	$0	$0
PHILIP CLARK	SECRETARY/TREASURER	0.50	Officer Director	$0	$0	$0
GREG MCDOUGALL	DIRECTOR	0.25	Director	$0	$0	$0
MARC CRAIG	AUTHORIZED AGENT	0.50	Officer	$0	$0	$0
KIRSTEN ELLIOTT	AUTHORIZED AGENT	0.50	Officer	$0	$0	$0
SHELLEY BRINKMANN	AUTHORIZED AGENT	0.50	Officer	$0	$0	$0
CARRIE MENDOZA	AUTHORIZED AGENT	0.50	Officer	$0	$0	$0
KATHLEEN CECIL	AUTHORIZED AGENT	0.50	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	$295,946	$332,708	$2,540,470	$-36,762
2023	$279,869	$321,650	$2,578,203	$-41,781
2022	$286,960	$295,920	$2,642,721	$-8,960
2021	$277,595	$309,421	$2,632,292	$-31,826
2020	$280,173	$286,492	$2,688,008	$-6,319
2019	$272,920	$286,242	$2,701,245	$-13,322
2018	$269,453	$325,445	$2,716,895	$-55,992

ELIZABETH LAKE NONPROFIT HOUSING CORPORATION