MICHIGAN AFFORDABLE SENIOR HOUSING CORP (EIN 383199184) - 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

1994

Legal Domicile

Principal Officer

SUSAN MILLER

Phone

8105994774

Tax Period

2024-01-01 to 2024-12-31

MICHIGAN AFFORDABLE SENIOR HOUSING CORP, founded in 1994, is a small nonprofit in the Housing & Shelter sector that reported $670K in total revenue in fiscal year 2024. Revenue grew 19% year-over-year, indicating healthy expansion. Expenses of $839K exceeded revenue, resulting in a 25% operating deficit.

Mission

OPERATION OF AN APARTMENT COMPLEX FOR RENTAL TO LOW INCOME INDIVIDUALS WHO ARE ELIGIBLE FOR ASSISTANCE UNDER THE SECTION 8 HOUSING PROGRAM.

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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 $0

Program Service Revenue $643,247

Investment Income $12,420

Other Revenue $14,093

TOTAL REVENUE $669,760

Expense Breakdown

Grants Paid $0

Salaries & Benefits $72,489

Fundraising Expenses $0

Program Expenses $660,676

Other Expenses $766,221

TOTAL EXPENSES $838,710

Year-over-Year Comparison

	2024	2023	Change
Revenue	$669,760	$560,709	+0.2%
Expenses	$838,710	$850,409	0.0%
Net Income	$-168,950	$-289,700	-0.4%

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

N/A

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

$67,000

Total Directors

$67,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
WADII QONJA	SECRETARY	010.00	Officer Director	$49,000	$0	$49,000
AMY HAGERTY	TREASURER	012.00	Officer Director	$18,000	$0	$18,000
SUSAN HERSHBERGER	CHAIRMAN	012.00	Officer Director	$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	$669,760	$838,710	$6,400,591	$-168,950
2023	$560,709	$850,409	$6,605,942	$-289,700
2022	$600,566	$819,130	$6,882,876	$-218,564
2021	$596,098	$687,469	$7,086,606	$-91,371
2020	$648,334	$764,023	$7,212,797	$-115,689
2018	$2,780	$42,063	$4,611,371	$-39,283

MICHIGAN AFFORDABLE SENIOR HOUSING CORP