MERCY HOUSING LAKEFRONT

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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

1986

Legal Domicile

Principal Officer

MARK ANGELINI

Phone

3038303300

Tax Period

2023-01-01 to 2023-12-31

MERCY HOUSING LAKEFRONT, founded in 1986, is a mid-sized nonprofit in the Housing & Shelter sector that reported $12.9M in total revenue in fiscal year 2023. Revenue fell 35% from the prior year — a significant decline worth monitoring. Expenses of $23.5M exceeded revenue, resulting in a 82% operating deficit.

Mission

THE MISSION OF MERCY HOUSING LAKEFRONT IS TO DIRECTLY FACILITATE THE PROVISION OF AFFORDABLE HOUSING TO FAMILIES, SENIORS, PEOPLE WITH SPECIAL NEEDS, HOMELESS AND POTENTIALLY HOMELESS INDIVIDUALS WHO WOULD OTHERWISE LACK THE FINANCIAL RESOURCES TO OBTAIN QUALITY, SAFE HOUSING. FURTHER, MERCY HOUSING LAKEFRONT PROVIDES A VARIETY OF FREE PROGRAMS AND SERVICES TO RESIDENTS OF THEIR AFFORDABLE HOUSING PROJECTS WHICH ARE DESIGNED TO IMPROVE THEIR LIVES AND THE COMMUNITIES IN WHICH THEY LIVE.

Program Service Accomplishments

Program 1

Expenses: $13,473,493 Revenue: $6,313,637

RESIDENT SERVICES AND PROGRAMS ARE PROVIDED FREE OF CHARGE TO RESIDENTS OF LOW-INCOME MULTI-FAMILY RENTAL PROPERTIES INCLUDING FAMILIES, SENIORS, AND PEOPLE WITH SPECIAL NEEDS. THE RESIDENT SERVICES AND PROGRAMS FALL INTO FOUR PRIMARY AREAS - EDUCATION, COMMUNITY, HEALTH AND WELLNESS, AND ECONOMIC STABILITY. RESIDENT SERVICES AND PROGRAMS ARE TAILORED TO MEET THE NEEDS OF EACH LOW-INCOME HOUSING COMMUNITY, INCLUDING ASSESSMENTS AND CASE MANAGEMENT BY LICENSED SOCIAL WORKERS PROVIDED TO RESIDENTS IN PERMANENT SUPPORTIVE HOUSING COMMUNITIES; OTHER SIGNIFICANT EFFORTS INCLUDE SUPPORTIVE SERVICES TO SENIORS (BEHAVIORAL HEALTH) AND FINANCIAL COACHING FOR FAMILIES STRUGGLING WITH RENT PAYMENTS.

Program 2

Expenses: $7,273,834 Revenue: $1,086,990

HOUSING DEVELOPMENT PROGRAMS AND SERVICES INCLUDE ACQUIRING ACCEPTABLE LOCATIONS FOR EITHER NEW CONSTRUCTION OR REHABILITATION OF EXISTING PROPERTIES FOR MULTI-FAMILY RENTAL PROPERTIES AND SINGLE...

HOUSING DEVELOPMENT PROGRAMS AND SERVICES INCLUDE ACQUIRING ACCEPTABLE LOCATIONS FOR EITHER NEW CONSTRUCTION OR REHABILITATION OF EXISTING PROPERTIES FOR MULTI-FAMILY RENTAL PROPERTIES AND SINGLE FAMILY HOUSING UNITS TO PROVIDE AFFORDABLE HOUSING TO LOW-INCOME RESIDENTS, OBTAINING FINANCING FOR THE DEVELOPMENT OF LOW-INCOME PROPERTIES AND HOUSING UNITS, AND MANAGING THE CONSTRUCTION AND/OR REHABILITATION OF LOW-INCOME PROPERTIES AND HOUSING UNITS THROUGH OBTAINING THE CERTIFICATION OF OCCUPANCY AND PROJECT COMPLETION.

Program 3

Expenses: $1,497,710 Revenue: $731,667

ASSET MANAGEMENT SERVICES ARE PROVIDED TO LOW-INCOME MULTI-FAMILY RENTAL PROPERTIES AND INCLUDE PREPARING AND MANAGING ANNUAL OPERATING BUDGETS, PREPARING REPORTS FOR INVESTORS AND LENDERS...

ASSET MANAGEMENT SERVICES ARE PROVIDED TO LOW-INCOME MULTI-FAMILY RENTAL PROPERTIES AND INCLUDE PREPARING AND MANAGING ANNUAL OPERATING BUDGETS, PREPARING REPORTS FOR INVESTORS AND LENDERS, OVERSEEING THE PROPERTY MANAGEMENT SERVICES, AND ENSURING AND MONITORING COMPLIANCE TO MEET REGULATORY AND ELIGIBILITY REQUIREMENTS OF RESIDENTS.

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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 $4,836,975

Program Service Revenue $7,678,051

Investment Income $0

Other Revenue $391,417

TOTAL REVENUE $12,906,443

Expense Breakdown

Grants Paid $2,205,744

Salaries & Benefits $0

Fundraising Expenses $1,273,312

Program Expenses $22,245,037

Other Expenses $21,318,079

TOTAL EXPENSES $23,523,823

Year-over-Year Comparison

	2023	2022	Change
Revenue	$12,906,443	$19,717,575	-0.3%
Expenses	$23,523,823	$20,491,761	+0.1%
Net Income	$-10,617,380	$-774,186	+12.7%

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

$1,264,995

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KRISHNA RAMACHANDRAN	DIRECTOR	1.00	Director	$0	$0	$0
STEVE THOMAS	DIRECTOR	1.00	Director	$0	$0	$0
RITU VIG	DIRECTOR	1.00	Director	$0	$0	$0
PHILLIP DESALVO	DIRECTOR	1.00	Director	$0	$0	$0
PHIL ASHTON	DIRECTOR	1.00	Director	$0	$0	$0
PAMELA SHARAR-STOPPEL	DIRECTOR	1.00	Director	$0	$0	$0
MONICA MARTON	DIRECTOR	1.00	Director	$0	$0	$0
MARY FISHMAN	DIRECTOR	1.00	Director	$0	$0	$0
LINDSEY ARTOLA	DIRECTOR	1.00	Director	$0	$0	$0
TERESA MALTBY RSM DMN	DIRECTOR	1.00	Director	$0	$0	$0
JON STOLZ	DIRECTOR	1.00	Director	$0	$0	$0
HENRY CRUMPTON	DIRECTOR	1.00	Director	$0	$0	$0
GEORGE ADAMS	DIRECTOR	1.00	Director	$0	$0	$0
ESTHER MACCHIONE	DIRECTOR	1.00	Director	$0	$0	$0
DESIRE' HUNTER	DIRECTOR	1.00	Director	$0	$0	$0
CHESTER BELL JR	DIRECTOR	1.00	Director	$0	$0	$0
TIFAIR HAMED	DIRECTOR	1.00	Director	$0	$0	$0
BRUCE SAAB	VICE PRESIDENT	1.00	Officer	$0	$13,324	$98,303
MELISSA CLAYTON	VICE PRESIDENT	1.00	Officer	$0	$33,798	$299,519
FATMAH FARRAJ	VICE PRESIDENT	1.00	Officer	$0	$12,560	$177,119
CHAD PAYNE	TREASURER	1.00	Officer	$0	$8,496	$200,685
JOE ROSENBLUM	SECRETARY	1.00	Officer	$0	$10,201	$232,549
MARK ANGELINI	PRESIDENT	1.00	Officer	$0	$11,727	$256,820

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	$12,906,443	$23,523,823	$70,422,506	$-10,617,380
2022	$19,717,575	$20,491,761	$47,257,188	$-774,186
2021	$37,545,157	$25,594,932	$45,086,430	$11,950,225
2021	$37,545,157	$25,594,932	$45,086,430	$11,950,225
2020	$27,061,671	$20,171,258	$37,938,296	$6,890,413
2019	$21,730,765	$19,366,225	$38,040,079	$2,364,540
2018	$16,989,878	$17,891,713	$34,389,551	$-901,835