MHT HOUSING INC

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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

TIMOTHY V FOX

Phone

2488330550

Tax Period

2022-04-01 to 2023-03-31

MHT HOUSING INC, founded in 1990, is a mid-sized nonprofit in the Housing & Shelter sector that reported $61.3M in total revenue in fiscal year 2022. Revenue surged 217% from the prior year, signaling strong growth momentum. The organization ran a surplus of $50.2M, a strong 82% operating margin.

Mission

TO PRESERVE AND EXTEND AFFORDABLE HOUSING IN MICHIGAN THROUGH THE ACQUISITION AND OPERATION OF MULTIFAMILY RESIDENTIAL REAL ESTATE FOR LOW AND VERY LOW INCOME TENANTS.

Program Service Accomplishments

Program 1

Expenses: $9,146,990 Revenue: $55,225,798

MHT HOUSING, INC. FOR THE YEAR ENDED 3/31/23 RECEIVED 9 LOW-INCOME HOUSING TAX CREDIT AWARDS TOTALING 1,026 UNITS. THESE PROJECTS WILL PROVIDE FOR 887 RENOVATED UNITS FOR PRESERVATION IN THE...

MHT HOUSING, INC. FOR THE YEAR ENDED 3/31/23 RECEIVED 9 LOW-INCOME HOUSING TAX CREDIT AWARDS TOTALING 1,026 UNITS. THESE PROJECTS WILL PROVIDE FOR 887 RENOVATED UNITS FOR PRESERVATION IN THE LOW-INCOME HOUSING SYSTEM AND 139 NEW CONSTRUCTION UNITS. THESE PROJECTS WILL HOUSE APPROXIMATELY 2,735 LOW-INCOME INDIVIDUALS. IN ADDITION, OVER THE LAST YEAR MHT HOUSING, INC. HAS COMPLETED THE RENOVATION OF 235 LOW- INCOME UNITS AND NEW CONSTRUCTION OF 96 LOW-INCOME HOUSING UNITS WHICH WILL HOUSE APPROXIMATELY 541 LOW-INCOME INDIVIDUALS. MHT HOUSING, INC. MADE SIGNIFICANT DONATIONS TO SEVERAL NONPROFITS INCLUDING SUPPORTING AN INNER-CITY CHARTER SCHOOL FOR STUDENTS K-12.

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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 (2022)

Revenue Breakdown

Contributions & Grants $5,259,388

Program Service Revenue $55,205,825

Investment Income $269,112

Other Revenue $591,887

TOTAL REVENUE $61,326,212

Expense Breakdown

Grants Paid $1,081,351

Salaries & Benefits $7,177,304

Fundraising Expenses $0

Program Expenses $9,146,990

Other Expenses $2,900,481

TOTAL EXPENSES $11,159,136

Year-over-Year Comparison

	2022	2021	Change
Revenue	$61,326,212	$19,352,676	+2.2%
Expenses	$11,159,136	$9,177,260	+0.2%
Net Income	$50,167,076	$10,175,416	+3.9%

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

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

$1,550,177

Total Directors

$709,009

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TIMOTHY V FOX	PRESIDENT	40.00	Officer Director	$626,009	$30,500	$656,509
GREGORY DEMARS	TREASURER (ENDED 6/18/22)	5.00	Officer Director	$52,500	$0	$52,500
MARTHA RICHARDSON	CHAIRMAN	5.00	Officer Director	$0	$0	$0
STEVEN CHAMPA	SECRETARY	5.00	Officer Director	$0	$0	$0
THOMAS EDMISTON	TREASURER (BEGAN 6/18/22)	5.00	Officer Director	$0	$0	$0
BRIAN A GALLAHER	CHIEF FINANCIAL OFFICER	40.00	Officer	$455,076	$57,832	$512,908
TIMOTHY A FOX	CHIEF OPERATING OFFICER	35.00	Officer	$310,596	$17,664	$328,260
CHRISTOPHER BRIC	EXECUTIVE VP (ENDED 12/31/22)	40.00	Highest	$186,950	$36,799	$223,749
ANDREW MARTIN	VICE PRESIDENT OF DEVELOPMENT	40.00	Highest	$230,697	$37,732	$268,429
DONNA MCMILLAN	MULTIFAMILY PRESERVATION DIRECTOR	45.00	Highest	$203,203	$17,528	$220,731
ROLLIN STODDARD	CHIEF ARCHITECT	45.00	Highest	$197,347	$50,695	$248,042
JON P TALLERICO	DIRECTOR OF DEVELOPMENT	45.00	Highest	$196,210	$26,024	$222,234

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	$99,423,284	$9,891,797	$244,276,493	$89,531,487
2023	$61,326,212	$11,159,136	$152,812,915	$50,167,076
2022	$19,352,676	$9,177,260	$103,750,395	$10,175,416
2021	$23,804,045	$10,652,804	$87,782,689	$13,151,241
2021	$23,804,045	$10,652,804	$87,782,689	$13,151,241
2020	$14,675,706	$8,432,994	$73,787,741	$6,242,712
2019	$14,847,142	$5,973,059	$68,343,312	$8,874,083
2019	$14,847,142	$5,973,059	$68,343,312	$8,874,083
2018	$8,225,711	$5,471,213	$59,928,995	$2,754,498