DETROIT, MI
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)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.
THE ORGANIZATION OPERATES A 66-UNIT APARTMENT COMPLEX, SUBSIDIZED BY HUD, THAT PROVIDES ELDERLY AND/OR HANDICAPPED PERSONS WITH HOUSING FACILITIES AND SERVICES SPECIALLY DESIGNED TO MEET THEIR NEEDS.
PROVIDED ELDERLY AND/OR HANDICAPPED PERSONS WITH HOUSING FACILITIES AND SERVICES SPECIALLY DESIGNED TO MEET THEIR PHYSICAL, SOCIAL, AND PSYCHOLOGICAL NEEDS, AND PROMOTE THEIR HEALTH, SECURITY, AND...
PROVIDED ELDERLY AND/OR HANDICAPPED PERSONS WITH HOUSING FACILITIES AND SERVICES SPECIALLY DESIGNED TO MEET THEIR PHYSICAL, SOCIAL, AND PSYCHOLOGICAL NEEDS, AND PROMOTE THEIR HEALTH, SECURITY, AND HAPPINESS THROUGH LONGER LIVING. CHARGES FOR SUCH FACILITIES AND SERVICES ARE BASED ON A BREAKEVEN BASIS. THE PROJECT IS A 66-UNIT APARTMENT COMPLEX.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 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% |
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
Sign In| 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 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2025 | No data | No data | No data | No data |
| 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 |
Compare LUTHERAN HOUSING CORPORATION OF ALPENA with other nonprofits in Michigan and across the country.