ICCF COMMUNITY HOMES

EIN: 381903026 501(c)(3) Housing & Shelter

GRAND RAPIDS, MI

Total Revenue
$8,364,924
Total Expenses
$10,547,657
Total Assets
$63,000,552
Net Assets
$28,959,566
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Financial Trends

Organization Details

Formation Year
1974
Legal Domicile
MI
Principal Officer
MOLLY P PETERSEN
Phone
6163369333
Tax Period
2023-06-01 to 2024-05-31

ICCF COMMUNITY HOMES, founded in 1974, is a community nonprofit in the Housing & Shelter sector that reported $8.4M in total revenue in fiscal year 2023. Revenue decreased 12% compared to the prior year. Expenses of $10.5M exceeded revenue, resulting in a 26% operating deficit.

Mission

EQUITABLE OPPORTUNITY. AFFORDABLE HOMES. THRIVING NEIGHBORHOODS.

Program Service Accomplishments

Program 1
Expenses: $7,051,427 Revenue: $4,302,148

ICCF BUILDS AND RENOVATES RENTAL HOUSING WITH AN EMPHASIS ON RESIDENTIAL MANAGEMENT AND RESIDENT DIGNITY. OVER 600 RENTAL UNITS ARE PROVIDED AT BELOW MARKET RATES. IN ADDITION, PROGRAMS ARE AVAILABLE...

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ICCF BUILDS AND RENOVATES RENTAL HOUSING WITH AN EMPHASIS ON RESIDENTIAL MANAGEMENT AND RESIDENT DIGNITY. OVER 600 RENTAL UNITS ARE PROVIDED AT BELOW MARKET RATES. IN ADDITION, PROGRAMS ARE AVAILABLE TO EVERY RENTAL RESIDENT TO TEACH THEM SKILLS TOWARD BECOMING HOMEOWNERS THEMSELVES. FAMILIES ASSUME POSITIONS OF RESPONSIBILITY IN THE OPERATION OF THEIR RENTAL COMMUNITIES THROUGH THE TENANT CENTERED MANAGEMENT PROGRAM, AND A SOCIAL WORK TEAM PROVIDES DIRECT SERVICES AND REFERRALS.

Program 2
Expenses: $610,139

ICCF'S HOUSING COUNSELING PROGRAM IS CERTIFIED BY HUD AND THE MICHIGAN STATE HOUSING DEVELOPMENT AUTHORITY (MSHDA) AND ADHERES TO THE NATIONAL INDUSTRY STANDARDS FOR HOUSING COUNSELORS. IN FY2024 170...

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ICCF'S HOUSING COUNSELING PROGRAM IS CERTIFIED BY HUD AND THE MICHIGAN STATE HOUSING DEVELOPMENT AUTHORITY (MSHDA) AND ADHERES TO THE NATIONAL INDUSTRY STANDARDS FOR HOUSING COUNSELORS. IN FY2024 170 HOUSEHOLDS ENGAGED WITH OUR RESIDENT PROGRAMS. 438 INDIVIDUALS COMPLETED A HOMEBUYER EDUCATION SERIES. ALL CLIENTS ARE SERVED REGARDLESS OF INCOME, RACE, COLOR, RELIGION/CREED, SEX, NATIONAL ORIGIN, AGE, FAMILY STATUS, DISABILITY, OR SEXUAL ORIENTATION/GENDER IDENTITY. PROGRAMS ARE ADMINISTERED IN CONFORMITY WITH LOCAL, STATE, AND FEDERAL ANTI-DISCRIMINATION LAWS, INCLUDING THE FEDERAL FAIR HOUSING ACT (42 USC 3600, ET SEQ.)ICCF OFFERS TWO CLASS SERIES: INTRODUCTION TO HOMEOWNERSHIP AND FINANCIAL CAPABILITIES. TOGETHER THESE SERVE TO EQUIP PROSPECTIVE HOMEBUYERS OR OTHERS WHO ARE WORKING TO ACHIEVE FINANCIAL GOALS OR AFFORDABLE HOUSING. CLASSES ARE TAUGHT BY EXPERTS ON ICCF STAFF AND OFFERED IN ENGLISH AND SPANISH. IN ADDITION, DEDICATED HOUSING COUNSELING AND AN INDIVIDUAL DEVELOPMENT ACCOUNT (IDA) DOWN PAYMENT MATCHING PROGRAM ARE AVAILABLE FOR QUALIFIED CLIENTS. THROUGH THESE PROGRAMS, PARTICIPANTS HAVE THE OPPORTUNITY TO IMPROVE THEIR FAMILY AND HOUSING SITUATIONS, AND INCREASE THEIR OPPORTUNITIES IN LIFE.

Program 3
Expenses: $264,611

EMERGENCY SHELTER FOR HOMELESS FAMILIES - FAMILY HAVEN: IN FY2024 21 FAMILIES (32 ADULTS AND 80 CHILDREN) RECEIVED EMERGENCY HOUSING AND SERVICES DESIGNED TO TAKE THEM FROM HOMELESSNESS TO STABLE...

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EMERGENCY SHELTER FOR HOMELESS FAMILIES - FAMILY HAVEN: IN FY2024 21 FAMILIES (32 ADULTS AND 80 CHILDREN) RECEIVED EMERGENCY HOUSING AND SERVICES DESIGNED TO TAKE THEM FROM HOMELESSNESS TO STABLE HOUSING AT ICCF'S EMERGENCY FAMILY SHELTER CALLED FAMILY HAVEN. 21 OF THE 21 FAMILIES HOUSED DURING FY2024 EXITED FAMILY HAVEN TO PERMANENT HOUSING. UP TO TWELVE MONTHS OF FOLLOW UP SERVICES HELP FAMILIES SECURE COMMUNITY RESOURCES, EMPLOYMENT, EDUCATION, CHILD CARE, ETC. ALL REFERRALS TO FAMILY HAVEN ARE RECEIVED FROM THE HOUSING ASSESSMENT PROGRAM AT THE SALVATION ARMY.

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $3,186,858
Program Service Revenue $4,302,148
Investment Income $626,005
Other Revenue $249,913
TOTAL REVENUE $8,364,924

Expense Breakdown

Grants Paid $0
Salaries & Benefits $3,289,397
Fundraising Expenses $792,045
Program Expenses $7,926,177
Other Expenses $7,258,260
TOTAL EXPENSES $10,547,657

Year-over-Year Comparison

2023 2022 Change
Revenue $8,364,924 $9,557,894 -0.1%
Expenses $10,547,657 $9,289,596 +0.1%
Net Income $-2,182,733 $268,298 -9.1%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
14
Independent Members
14
Employees
N/A
Volunteers
1029

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
7
$273,004
Total Directors
13
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CAMERON YOUNG DIRECTOR - CHAIR 2.00
Officer Director
$0 $0 $0
EUNICE LOPEZ-MARTIN DIRECTOR - VICE CHAIR 2.00
Officer Director
$0 $0 $0
BRIANNE PITCHFORD DIRECTOR - SECRETARY 2.00
Officer Director
$0 $0 $0
TOM PRINCE DIRECTOR - TREASURER 2.00
Officer Director
$0 $0 $0
JAMECIA ADAMS DIRECTOR 1.00
Director
$0 $0 $0
DAVID CONTANT DIRECTOR 1.00
Director
$0 $0 $0
ARLEN-DEAN GADDY DIRECTOR - PART YEAR 1.00
Director
$0 $0 $0
MARY DEYOUNG DIRECTOR 1.00
Director
$0 $0 $0
MARJORIE DOOD DIRECTOR 1.00
Director
$0 $0 $0
LEE HARDY DIRECTOR 1.00
Director
$0 $0 $0
WILLIAM JACKSON DIRECTOR 1.00
Director
$0 $0 $0
RHODA KREUZER DIRECTOR 1.00
Director
$0 $0 $0
LEXI WOODS DIRECTOR 1.00
Director
$0 $0 $0
RYAN VERWYS CEO 40.00
Officer
$0 $18,057 $158,499
MOLLY PETERSEN VICE PRESIDENT OF FINANCE 40.00
Officer
$0 $0 $29,407
DERRICK SMITH VICE PRESIDENT OF FINANCE-PART YEAR 40.00
Officer
$0 $7,634 $85,098
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
2024 $8,364,924 $10,547,657 $63,000,552 $-2,182,733
2023 $9,557,894 $9,289,596 $65,764,497 $268,298
2022 $12,188,676 $9,963,395 $56,991,774 $2,225,281
2021 $13,226,910 $8,228,730 $57,299,342 $4,998,180
2020 $10,679,610 $7,969,641 $55,847,215 $2,709,969
2019 $12,298,039 $8,354,245 $62,649,584 $3,943,794
2018 $9,129,308 $5,488,394 $58,488,254 $3,640,914
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