SPRING LAKE PRESBYTERIAN HOUSING CO

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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

1980

Legal Domicile

Principal Officer

SARAH BULTHUIS

Phone

6164594556

Tax Period

2024-04-01 to 2025-03-31

SPRING LAKE PRESBYTERIAN HOUSING CO, founded in 1980, is a small nonprofit in the Human Services sector that reported $799K in total revenue in fiscal year 2024. Revenue surged 46% from the prior year, signaling strong growth momentum.

Mission

TO PROVIDE ELDERLY AND/OR HANDICAPPED PERSONS WITH LOW-COST HOUSING FACILITIES AND SERVICES SPECIFICALLY DESIGNED TO MEET THEIR NEEDS.

Program Service Accomplishments

Program 1

Expenses: $638,213 Revenue: $301,975

TO PROVIDE ELDERLY AND/OR HANDICAPPED PERSONS WITH HOUSING FACILITIES AND SERVICES SPECIALLY DESIGNED TO MEET THEIR PHYSICAL, SOCIAL, AND PSYCHOLOGICAL NEEDS AND TO PROMOTE THEIR HEALTH, SECURITY...

TO PROVIDE ELDERLY AND/OR HANDICAPPED PERSONS WITH HOUSING FACILITIES AND SERVICES SPECIALLY DESIGNED TO MEET THEIR PHYSICAL, SOCIAL, AND PSYCHOLOGICAL NEEDS AND TO PROMOTE THEIR HEALTH, SECURITY, HAPPINESS, AND USEFULNESS THROUGH LONGER LIVING. THE CHARGES FOR SUCH FACILITIES AND SERVICES ARE BASED ON A BREAKEVEN BASIS. THE COMPLEX HAS ROOM FOR 60, WITH OCCUPANCY AT NEARLY 100% THROUGHOUT THE YEAR.

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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 $473,592

Program Service Revenue $301,975

Investment Income $13,606

Other Revenue $9,441

TOTAL REVENUE $798,614

Expense Breakdown

Grants Paid $0

Salaries & Benefits $174,392

Fundraising Expenses $0

Program Expenses $638,213

Other Expenses $617,701

TOTAL EXPENSES $792,093

Year-over-Year Comparison

	2024	2023	Change
Revenue	$798,614	$547,658	+0.5%
Expenses	$792,093	$484,679	+0.6%
Net Income	$6,521	$62,979	-0.9%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SARAH BULTHUIS	PRESIDENT	4.00	Officer Director	$0	$0	$0
BARB SKENDROVIC	TREASURER	2.00	Officer Director	$0	$0	$0
CRAIG THOM	SECRETARY	2.00	Officer Director	$0	$0	$0
WENDY SWENSON	DIRECTOR	1.00	Director	$0	$0	$0
PAULA DEJONGE	DIRECTOR	1.00	Director	$0	$0	$0
JOYCE ALDRIDGE	DIRECTOR	1.00	Director	$0	$0	$0
BRUCE CALLEN	DIRECTOR	1.00	Director	$0	$0	$0
RYAN KEENAN	DIRECTOR	1.00	Director	$0	$0	$0
RICH SUCHECKI	DIRECTOR	1.00	Director	$0	$0	$0
LEAH JOHNSON	DIRECTOR	1.00	Director	$0	$0	$0

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
2025	$798,614	$792,093	$5,431,164	$6,521
2024	$547,658	$484,679	$1,076,754	$62,979
2023	$526,106	$468,482	$1,081,917	$57,624
2022	$519,777	$492,061	$1,112,710	$27,716
2021	$527,929	$486,398	$1,156,782	$41,531