LUTHERAN HOUSING CORPORATION OF ALPENA (EIN 382534392) - 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

1984

Legal Domicile

Principal Officer

BRIDGETTE ZAPPACOSTA

Phone

3138237700

Tax Period

2024-01-01 to 2024-12-31

LUTHERAN HOUSING CORPORATION OF ALPENA, founded in 1984, is a small nonprofit in the Housing & Shelter sector that reported $781K in total revenue in fiscal year 2024. Expenses of $730K left a modest 7% surplus.

Mission

PROVIDE ELDERLY/HANDICAPPED PERSONS HOUSING FACILITIES & SERVICES DESIGNED TO MEET THEIR NEEDS.

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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 $34,055

Program Service Revenue $745,378

Investment Income $1,309

Other Revenue $0

TOTAL REVENUE $780,742

Expense Breakdown

Grants Paid $0

Salaries & Benefits $134,537

Fundraising Expenses $0

Program Expenses $437,759

Other Expenses $595,120

TOTAL EXPENSES $729,657

Year-over-Year Comparison

	2024	2023	Change
Revenue	$780,742	$747,988	+0.0%
Expenses	$729,657	$745,444	0.0%
Net Income	$51,085	$2,544	+19.1%

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
CINDY SUSZEK	VICE PRESIDENT	0.10	Officer Director	$0	$0	$0
PHYLLIS COLAGROSS	PRESIDENT	0.10	Officer Director	$0	$0	$0
BRIDGETTE ZAPPACOSTA	DIRECTOR OF FINANCE	1.00	Officer	$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	$780,742	$729,657	$1,796,143	$51,085
2023	$747,988	$745,444	$1,780,344	$2,544
2022	$647,165	$657,676	$1,930,431	$-10,511
2021	$686,937	$685,762	$1,438,007	$1,175
2020	$682,875	$591,763	$1,465,663	$91,112
2019	$649,927	$622,853	$1,441,300	$27,074
2018	$641,275	$625,441	$1,589,506	$15,834

LUTHERAN HOUSING CORPORATION OF ALPENA