TURNSTONE DEVELOPMENT CORP

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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

SUSAN WIEMER

Phone

3124530610

Tax Period

2023-01-01 to 2023-12-31

TURNSTONE DEVELOPMENT CORP, founded in 1979, is a community nonprofit in the Housing & Shelter sector that reported $4.7M in total revenue in fiscal year 2023. Revenue fell 42% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $3.1M, a strong 66% operating margin.

Mission

TO PROVIDE AFFORDABLE HOUSING OPPORTUNITIES FOR FAMILIES IN NEED OF HOUSING ASSISTANCE THROUGHOUT THE UNITED

Program Service Accomplishments

Program 1

Expenses: $924,865 Revenue: $4,794,686

TO PROVIDE AFFORDABLE HOUSING DEVELOPMENT IN ACCORDANCE WITH ILLINOIS AND FEDERAL NFP LAWS.

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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 $208,431

Program Service Revenue $4,794,686

Investment Income $128,121

Other Revenue $-390,274

TOTAL REVENUE $4,740,964

Expense Breakdown

Grants Paid $0

Salaries & Benefits $647,902

Fundraising Expenses $0

Program Expenses $924,865

Other Expenses $948,212

TOTAL EXPENSES $1,596,114

Year-over-Year Comparison

	2023	2022	Change
Revenue	$4,740,964	$8,199,572	-0.4%
Expenses	$1,596,114	$1,622,745	0.0%
Net Income	$3,144,850	$6,576,827	-0.5%

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

N/A

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

$464,724

Total Directors

$15,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ELZIE HIGGINBOTTOM	TREASURER	1.00	Officer Director	$3,750	$0	$3,750
AUDREY R PEEPLES	CHAIRMAN	1.00	Officer Director	$3,750	$0	$3,750
LINFORD COLEMAN	CHAIRMAN	1.00	Officer Director	$3,750	$0	$3,750
MAZZONE JACKSON	SECRETARY	1.00	Officer Director	$3,750	$0	$3,750
SUSAN WIEMER	EXECUTIVE DIR.	40.00	Officer	$335,536	$0	$335,536
CYNTHIA TENNANT	OFFICE MANAGER	40.00	Officer	$114,188	$0	$114,188
WILLIAM SCHNEIDER	FORMER EXEC. DIR	40.00		$183,178	$0	$183,178

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	$4,740,964	$1,596,114	$48,246,406	$3,144,850
2022	$8,199,572	$1,622,745	$24,747,059	$6,576,827
2021	$782,300	$1,371,551	$22,807,557	$-589,251
2020	$1,396,225	$1,514,290	$21,241,692	$-118,065
2019	$4,378,945	$1,332,404	$21,407,596	$3,046,541