HOMECOR

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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

1996

Legal Domicile

Principal Officer

Amy Alderink

Phone

6168362531

Tax Period

2023-01-01 to 2023-12-31

HOMECOR, founded in 1996, is a micro nonprofit in the Community Improvement sector that reported $53K in total revenue in fiscal year 2023. Expenses of $100K exceeded revenue, resulting in a 87% operating deficit.

Mission

Enhance Holland's central city neighborhoods by renovating homes

Program Service Accomplishments

Program 1

Expenses: $99,573 Revenue: $69,486

Provide grants to homeowners to assist them in repairing their homes

Program 2

Expenses: $0 Revenue: $25,100

Purchase, renovate, and sell distressed homes to owner occupants.

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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 $94,586

Program Service Revenue $0

Investment Income $18

Other Revenue $-41,230

TOTAL REVENUE $53,374

Expense Breakdown

Grants Paid $88,752

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $99,573

Other Expenses $10,821

TOTAL EXPENSES $99,573

Year-over-Year Comparison

	2023	2022	Change
Revenue	$53,374	$53,735	0.0%
Expenses	$99,573	$82,152	+0.2%
Net Income	$-46,199	$-28,417	+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
Jake Norris	Director	0.25	Director	$0	$0	$0
Donna Brooks	Vice President	0.25	Officer Director	$0	$0	$0
Deborah Sterken	President	0.25	Officer Director	$0	$0	$0
Thomas Smith	Treasurer	0.5	Officer Director	$0	$0	$0
Phil Meyer	Director	0.25	Director	$0	$0	$0
Jane Clark	Director	0.25	Director	$0	$0	$0
Drew Durham	Director	0.25	Director	$0	$0	$0
Shari Garcia	Director	0.25	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
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$53,374	$99,573	$900,399	$-46,199
2022	$53,735	$82,152	$946,598	$-28,417
2021	$63,474	$47,706	$975,015	$15,768
2020	$146,984	$58,227	$959,247	$88,757