JOAK AMERICAN HOMES INC

EIN: 383209872 501(c)(3) Mental Health

Ann Arbor, MI

Total Revenue
$7,703,340
Total Expenses
$7,983,719
Total Assets
$2,113,258
Net Assets
$1,843,999
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1994
Legal Domicile
MI
Principal Officer
Hyacinth Akunne
Tax Period
2024-01-01 to 2024-12-31

JOAK AMERICAN HOMES INC, founded in 1994, is a community nonprofit in the Mental Health sector that reported $7.7M in total revenue in fiscal year 2024. Revenue decreased 6% compared to the prior year.

Mission

To provide residence, treatment and support to children and adults with mental retardation and or illness, substance abusers and shelter to homeless citizens in various counties in southeast Michigan.

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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 $0
Program Service Revenue $7,678,055
Investment Income $25,285
Other Revenue $0
TOTAL REVENUE $7,703,340

Expense Breakdown

Grants Paid $0
Salaries & Benefits $5,695,516
Fundraising Expenses $0
Program Expenses $7,318,630
Other Expenses $2,288,203
TOTAL EXPENSES $7,983,719

Year-over-Year Comparison

2024 2023 Change
Revenue $7,703,340 $8,204,950 -0.1%
Expenses $7,983,719 $7,777,792 +0.0%
Net Income $-280,379 $427,158 -1.7%
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
4
Independent Members
4
Employees
147
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
4
$60,000
Total Directors
3
$0
Key Employees
1
$60,000
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Hyacinth Akunne President 40.00
Officer Key Emp
$60,000 $0 $60,000
Joseph Nwabueze Secretary 0.00
Officer Director
$0 $0 $0
Jane Patrick Treasurer 0.00
Officer Director
$0 $0 $0
Mark Bliss Member 0.00
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 $7,703,340 $7,983,719 $2,113,258 $-280,379
2023 $8,204,950 $7,777,792 $2,609,790 $427,158
2022 $8,979,726 $7,932,887 $2,034,303 $1,046,839
2021 $8,139,909 $7,449,359 $2,084,468 $690,550
2020 $7,304,778 $7,405,614 $1,425,772 $-100,836
2019 $6,625,981 $6,608,088 $41,959 $17,893
2018 $6,728,099 $6,711,583 $179,682 $16,516
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