LAVERNA TERRACE HOUSING CORPORATION

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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

1982

Legal Domicile

Principal Officer

LISA MUSGRAVE

Phone

3172718888

Tax Period

2022-07-01 to 2023-06-30

LAVERNA TERRACE HOUSING CORPORATION, founded in 1982, is a small nonprofit in the Health Care sector that reported $470K in total revenue in fiscal year 2022. Revenue decreased 11% compared to the prior year. Expenses of $542K exceeded revenue, resulting in a 15% operating deficit.

Mission

PROVIDE AFFORDABLE HOUSING FACILITIES FOR LOW-INCOME ELDERLY AND HANDICAPPED INDIVIDUALS.

Program Service Accomplishments

Program 1

Expenses: $493,034 Revenue: $172,944

THE ORGANIZATION PROVIDES AFFORDABLE HOUSING TO LOW-INCOME SENIOR INDIVIDUALS. THE ORGANIZATION OWNS & OPERATES A 51 UNIT APARTMENT COMMUNITY. THE RENTS CHARGED TO TENANTS ARE SUBSIDIZED AND...

THE ORGANIZATION PROVIDES AFFORDABLE HOUSING TO LOW-INCOME SENIOR INDIVIDUALS. THE ORGANIZATION OWNS & OPERATES A 51 UNIT APARTMENT COMMUNITY. THE RENTS CHARGED TO TENANTS ARE SUBSIDIZED AND REGULATED BY THE U.S. DEPARTMENT OF HOUSING & URBAN DEVELOPMENT. AS PART OF THE ASCENSION CATHOLIC HEALTH MINISTRY, THE FILING ORGANIZATION SERVED IN SUPPORT OF ASCENSION'S COMMITMENT TO BOTH CARE FOR PATIENTS AND COMMUNITIES AND SUPPORT CAREGIVERS AND OTHER ASSOCIATES THROUGH THE CHALLENGES OF THE COVID-19 GLOBAL PANDEMIC IN 2020, 2021, & 2022.

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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 (2022)

Revenue Breakdown

Contributions & Grants $296,574

Program Service Revenue $214,844

Investment Income $-42,669

Other Revenue $1,250

TOTAL REVENUE $469,999

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $493,034

Other Expenses $542,140

TOTAL EXPENSES $542,140

Year-over-Year Comparison

	2022	2021	Change
Revenue	$469,999	$528,611	-0.1%
Expenses	$542,140	$580,741	-0.1%
Net Income	$-72,141	$-52,130	+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

$2,489,163

Total Directors

$887,975

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAVID BORDO	BOARD MEMBER	40.00	Director	$0	$48,810	$843,173
BRAD S FOLEY	BOARD CHAIR	1.00	Officer Director	$0	$0	$0
KAREN LAUER	BOARD MEMBER	40.00	Director	$0	$6,131	$44,802
DANIEL STRICKER	PRESIDENT & CEO, ASCENSION	1.00	Officer	$0	$25,705	$1,455,162
LISA ANN MUSGRAVE	SENIOR VP	1.00	Officer	$0	$25,944	$444,524
MICHAEL GORDON	CFO	1.00	Officer	$0	$42,377	$589,477

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	$469,999	$542,140	$4,153,322	$-72,141
2022	$528,611	$580,741	$4,251,296	$-52,130
2021	$459,956	$574,881	$4,435,488	$-114,925
2020	$505,292	$581,811	$4,670,646	$-76,519
2019	$499,191	$597,813	$4,880,665	$-98,622
2018	$825,261	$582,155	$5,083,100	$243,106