THE AFFORDABLE HOUSING CORPORATION OF LAKE COUNTY (EIN 363873457) - 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

1992

Legal Domicile

Principal Officer

BRADLEY DENNISON

Phone

8472637478

Tax Period

2024-01-01 to 2024-12-31

THE AFFORDABLE HOUSING CORPORATION OF LAKE COUNTY, founded in 1992, is a community nonprofit in the Human Services sector that reported $2.9M in total revenue in fiscal year 2024. Revenue fell 24% from the prior year — a significant decline worth monitoring.

Mission

TO PROVIDE DECENT, SAFE AND SANITARY HOUSING THAT IS AFFORDABLE TO LOW AND MODERATE-INCOME PERSONS AND TO STABILIZE AND STRENGTHEN COMMUNITIES BY IMPROVING THE LOCAL HOUSING STOCK. THE CORPORATION SHALL ADMINISTER PROGRAMS THAT REVITALIZE NEIGHBORHOODS AND INCREASE AND PRESERVE AFFORDABLE HOUSING OPTIONS IN THE NORTHERN SECTION OF THE CHICAGO METROPOLITAN STATISTICAL AREA.

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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 $0

Program Service Revenue $2,832,305

Investment Income $18,419

Other Revenue $4,398

TOTAL REVENUE $2,855,122

Expense Breakdown

Grants Paid $42,500

Salaries & Benefits $555,551

Fundraising Expenses $0

Program Expenses $2,823,368

Other Expenses $2,269,628

TOTAL EXPENSES $2,867,679

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,855,122	$3,747,114	-0.2%
Expenses	$2,867,679	$3,762,320	-0.2%
Net Income	$-12,557	$-15,206	-0.2%

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

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

$198,445

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TIMOTHY JOHNSTON	CHAIR	1.00	Officer Director	$0	$0	$0
MICHAEL DEBLAUW	SECRETARY/TREASURER	1.00	Officer Director	$0	$0	$0
ROBERT ANTHONY	DIRECTOR	1.00	Director	$0	$0	$0
WILLIAM POWERS	CHAIR	1.00	Officer Director	$0	$0	$0
MICHAEL MADER	PRESIDENT	40.00	Officer	$65,382	$7,230	$72,612
BRADLEY DENNISON	PRESIDENT	40.00	Officer	$119,400	$6,433	$125,833

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	$2,855,122	$2,867,679	$1,912,484	$-12,557
2023	$3,747,114	$3,762,320	$2,139,843	$-15,206
2022	$5,136,647	$5,259,476	$2,256,048	$-122,829
2021	$4,394,533	$4,113,699	$3,731,414	$280,834
2020	$2,597,949	$2,591,919	$2,380,061	$6,030
2019	$3,374,795	$3,334,811	$2,724,769	$39,984

THE AFFORDABLE HOUSING CORPORATION OF LAKE COUNTY