TRUENORTH CENTER FOR NONPROFIT HOUSING

EIN: 383164047 501(c)(3)

FREMONT, MI

Total Revenue
$119,881
Total Expenses
$129,088
Total Assets
$1,001,518
Net Assets
$881,332
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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
1994
Legal Domicile
MI
Principal Officer
BEVERLY CASSIDY
Phone
2319240641
Tax Period
2024-01-01 to 2024-12-31

TRUENORTH CENTER FOR NONPROFIT HOUSING, founded in 1994, is a small nonprofit that reported $120K in total revenue in fiscal year 2024. Revenue fell 84% from the prior year — a significant decline worth monitoring. Net assets of $881K represent 88 months of operating reserves.

Mission

TRUENORTH CENTER FOR NONPROFIT HOUSING IS A RURAL NON-PROFIT HOUSING ORGANIZATION COMMITTED TO ASSURING ALL MEMBERS OF OUR COMMUNITY HAVE ACCESS TO QUALITY AFFORDABLE HOUSING. CNH OWNS AND MANAGES 114 RENTAL UNITS, PROVIDING STABLE AND AFFORDABLE HOUSING OPTIONS FOR FAMILIES IN NEED.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $10,023
Program Service Revenue $101,479
Investment Income $8,279
Other Revenue $100
TOTAL REVENUE $119,881

Expense Breakdown

Grants Paid $0
Salaries & Benefits $-3,470
Fundraising Expenses $0
Program Expenses $49,499
Other Expenses $132,558
TOTAL EXPENSES $129,088

Year-over-Year Comparison

2024 2023 Change
Revenue $119,881 $747,463 -0.8%
Expenses $129,088 $811,742 -0.8%
Net Income $-9,207 $-64,279 -0.9%
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

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Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
11
Independent Members
11
Employees
N/A
Volunteers
11

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
6
$207,587
Total Directors
11
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CARRIE VANDENBERG VICE CHAIR 2.50
Officer Director
$0 $0 $0
GENE FORD CHAIR 0.50
Officer Director
$0 $0 $0
JANE NEWTON MEMBER 0.50
Director
$0 $0 $0
JIM MERKEL CO-TREASURER 2.50
Officer Director
$0 $0 $0
JULIE BERWALD SECRETARY 0.50
Officer Director
$0 $0 $0
KATE SCARBROUGH-KESTELOOT MEMBER 0.50
Director
$0 $0 $0
LORA KRUEGER MEMBER 0.50
Director
$0 $0 $0
LARRY YACHCIK MEMBER 0.50
Director
$0 $0 $0
KELLY WAGENMAKER CO-TREASURER 2.50
Officer Director
$0 $0 $0
CARMEN FAULKNER MEMBER 0.50
Director
$0 $0 $0
HANNAH HARRINGTON MEMBER 0.50
Director
$0 $0 $0
BEVERLY CASSIDY PRESIDENT/CEO 5.00
Officer
$0 $25,919 $207,587
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 $119,881 $129,088 $1,001,518 $-9,207
2023 $747,463 $811,742 $1,283,600 $-64,279
2022 $462,627 $536,552 $1,027,094 $-73,925
2021 $459,262 $493,736 $1,181,501 $-34,474
2020 $406,990 $439,066 $1,095,826 $-32,076
2019 $338,686 $349,614 $1,078,600 $-10,928
2018 $-183,853 $218,514 $1,069,150 $-402,367
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