SPRINGHILL HOUSING 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

1990

Legal Domicile

Principal Officer

KEVIN WEIDELMAN

Phone

2489280111

Tax Period

2023-01-01 to 2023-12-31

SPRINGHILL HOUSING CORPORATION, founded in 1990, is a community nonprofit in the Housing & Shelter sector that reported $1.2M in total revenue in fiscal year 2023. Revenue fell 27% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $301K, a strong 25% operating margin.

Mission

TO PROVIDE LOW INCOME HOUSING TO INDIVIDUALS WITH DISABILITIES.

Program Service Accomplishments

Program 1

Expenses: $522,148 Revenue: $366,050

PROVIDING LOW INCOME HOUSING TO INDIVIDUALS WITH DISABILITIES IN THE METRO DETROIT AREA AND PROVIDING AFFORDABLE PERMANENT HOUSING OPTIONS THROUGH THE DEVELOPMENT OF RENTAL PROPERTIES.

Program 2

Expenses: $315,597 Revenue: $656,368

THE CORPORATION IS THE TRUSTEE FOR TWO SPECIAL NEEDS POOLED TRUSTS: SPRINGHILL FIRST-PARTY POOLED TRUST AND THE SPRINGHILL THIRD-PARTY POOLED TRUST. PROCEEDS FROM THE TRUSTS ARE USED TO FURTHER THE...

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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 (2023)

Revenue Breakdown

Contributions & Grants $113,262

Program Service Revenue $1,022,418

Investment Income $62,983

Other Revenue $0

TOTAL REVENUE $1,198,663

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $837,745

Other Expenses $897,415

TOTAL EXPENSES $897,415

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,198,663	$1,642,424	-0.3%
Expenses	$897,415	$863,208	+0.0%
Net Income	$301,248	$779,216	-0.6%

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
GREG MCDOUGALL	DIRECTOR	0.50	Director	$0	$0	$0
PHILIP CLARK	SECRETARY/TREASURER	0.50	Officer Director	$0	$0	$0
DEREK GIRTON	VICE PRESIDENT	0.50	Officer Director	$0	$0	$0
KEVIN WIEDELMAN	PRESIDENT	0.50	Officer Director	$0	$0	$0
MARC CRAIG	AUTHORIZED AGENT	0.50	Officer	$0	$0	$0
KIRSTEN ELLIOTT	AUTHORIZED AGENT	0.50	Officer	$0	$0	$0
CARRIE MENDOZA	AUTHORIZED AGENT	0.50	Officer	$0	$0	$0
MICHELLE BRINKMANN	AUTHORIZED AGENT	0.50	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	No data	No data	No data	No data
2023	$1,198,663	$897,415	$6,035,520	$301,248
2022	$1,642,424	$863,208	$5,575,300	$779,216
2021	$1,342,262	$821,752	$5,265,545	$520,510
2020	$1,129,894	$769,322	$4,945,792	$360,572
2019	$1,200,296	$852,335	$4,861,011	$347,961
2018	$1,043,028	$668,697	$4,821,174	$374,331