INNOVATIVE HOUSING DEV 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

1980

Legal Domicile

Principal Officer

RENAE KIEHLER

Phone

8103854463

Tax Period

2024-10-01 to 2025-09-30

INNOVATIVE HOUSING DEV CORPORATION, founded in 1980, is a mid-sized nonprofit in the Human Services sector that reported $13.9M in total revenue in fiscal year 2024. Revenue grew 10% year-over-year, indicating healthy expansion. Expenses of $13.2M left a modest 5% surplus.

Mission

TO PROVIDE A VARIETY OF QUALITY SERVICES AND SUPPORTS TO INDIVIDUALS WITH SPECIAL NEEDS. IN ADDITION, TO PROVIDE AFFORDABLE HOUSING TO A VARIETY OF INDIVIDUALS INCLUDING HANDICAPPED, ELDERLY, AND LIMITED INCOME PERSONS.

Program Service Accomplishments

Program 1

Expenses: $11,869,872 Revenue: $13,158,325

INNOVATIVE HOUSING DEVELOPMENT CORPORATION PROVIDES HOME SUPERVISION AND SERVICE TO THE DEVELOPMENTALLY DISABLED THROUGH FOURTEEN GROUP HOMES AS WELL AS ADMINISTRATION OF TWELVE HUD GROUP COMPLEXES.

Program 2

Expenses: $56,155 Revenue: $48,140

ENHANCED COMMUNITY SERVICES ASSIST INDIVIDUALS WITH A MENTAL ILLNESS OR DEVELOPMENTAL DISABILITY TO BE ABLE TO LIVE INDEPENDENTLY AND PARTICIPATE ACTIVELY IN THE COMMUNITY.

Program 3

N/A

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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 $125,460

Program Service Revenue $13,206,465

Investment Income $271,138

Other Revenue $292,092

TOTAL REVENUE $13,895,155

Expense Breakdown

Grants Paid $0

Salaries & Benefits $11,078,875

Fundraising Expenses $0

Program Expenses $11,926,027

Other Expenses $2,135,393

TOTAL EXPENSES $13,214,268

Year-over-Year Comparison

	2024	2023	Change
Revenue	$13,895,155	$12,634,292	+0.1%
Expenses	$13,214,268	$11,811,893	+0.1%
Net Income	$680,887	$822,399	-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

256

Volunteers

N/A

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

$145,249

Total Directors

$13,623

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
EDWARD SCHULTZ	BOARD MEMBER	3.00	Director	$0	$13,623	$13,623
KENNETH MONTGOMERY	BOARD MEMBER	2.50	Director	$0	$0	$0
RICHARD WARD	BOARD MEMBER	2.50	Director	$0	$0	$0
ROBERT BUECHLER	BOARD MEMBER	2.50	Director	$0	$0	$0
HARRY OLDENBURG	TREASURER	2.50	Officer	$0	$0	$0
JUDY WORTHINGTON	PRESIDENT	2.50	Officer	$0	$0	$0
RENAE KIEHLER	EXECUTIVE DIRECTOR	41.00	Officer	$145,249	$0	$145,249
HEATHER HOUSE	FISCAL SERVICES DIRECTOR	30.00	Highest	$133,816	$7,955	$141,771
MELINDA CAMPBELL	OPERATIONS DIRECTOR	40.00	Highest	$115,527	$509	$116,036

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	$13,895,155	$13,214,268	$10,936,328	$680,887
2024	$12,634,292	$11,811,893	$9,592,081	$822,399
2023	$11,882,775	$11,139,484	$7,463,818	$743,291
2022	$10,712,191	$9,879,802	$7,028,193	$832,389
2021	$9,357,323	$8,679,820	$7,663,141	$677,503
2020	$7,882,983	$7,557,614	$6,367,618	$325,369
2019	$6,788,863	$6,481,774	$5,763,206	$307,089
2018	$6,669,061	$6,324,886	$5,588,697	$344,175