HOUSING RESOURCES INC (EIN 382474879) - 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

1982

Legal Domicile

Principal Officer

KAREN BARNES

Phone

2693820287

Tax Period

2024-01-01 to 2024-12-31

HOUSING RESOURCES INC, founded in 1982, is a community nonprofit that reported $2.9M in total revenue in fiscal year 2024. Revenue fell 30% from the prior year — a significant decline worth monitoring. Expenses of $3.3M exceeded revenue, resulting in a 16% operating deficit.

Mission

TO ASSURE HOUSING FOR SOCIALLY AND ECONOMICALLY VULNERABLE RESIDENTS OF KALAMAZOO COUNTY.

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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 $2,686,960

Program Service Revenue $129,212

Investment Income $73,956

Other Revenue $-33,304

TOTAL REVENUE $2,856,824

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,304,090

Fundraising Expenses $0

Program Expenses $3,050,121

Other Expenses $2,019,823

TOTAL EXPENSES $3,323,913

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,856,824	$4,067,336	-0.3%
Expenses	$3,323,913	$4,637,598	-0.3%
Net Income	$-467,089	$-570,262	-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

217

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

$136,656

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHELLE DAVIS	EXECUTIVE DIRECTOR	37.50	Officer	$121,002	$15,654	$136,656
MEOSHI ATKINSON	DIRECTOR	1.00	Director	$0	$0	$0
JAMES DEVERS	DIRECTOR	1.00	Director	$0	$0	$0
SHEILA DORSEY SMITH	DIRECTOR (ENDED 6/24)	1.00	Director	$0	$0	$0
HEATHER HAIGH	DIRECTOR	1.00	Director	$0	$0	$0
CHERYL JOHNSON	DIRECTOR	1.00	Director	$0	$0	$0
CHERYL NAVOY	DIRECTOR	1.00	Director	$0	$0	$0
NEIL STUUT	DIRECTOR (ENDED 08/24)	1.00	Director	$0	$0	$0
ELIZABETH VON EITZEN	DIRECTOR	1.00	Director	$0	$0	$0
CLAUDIA WINK-BASING	DIRECTOR	1.00	Director	$0	$0	$0
ROY DANGEL	TREASURER (ENDED 8/24)	1.00	Officer Director	$0	$0	$0
JUDITH LEWIS	SECRETARY/TREASURER	1.00	Officer Director	$0	$0	$0
JOSE SANTAMARIA	VICE PRESIDENT (ENDED 11/24)	1.00	Officer Director	$0	$0	$0
ALEX JEFFRIES	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
KAREN BARNES	PRESIDENT	1.00	Officer 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
2024	$2,856,824	$3,323,913	$8,859,004	$-467,089
2023	$4,067,336	$4,637,598	$8,117,936	$-570,262
2022	$25,943,577	$25,928,274	$10,872,162	$15,303
2021	$28,113,535	$27,588,523	$11,093,824	$525,012
2020	$5,667,348	$5,266,991	$7,409,707	$400,357
2019	$3,537,029	$4,141,077	$6,379,000	$-604,048
2018	$3,380,431	$3,373,089	$6,800,802	$7,342

HOUSING RESOURCES INC