LAURELTON NONPROFIT HOUSING CORPOR… - Form 990 Financial Data

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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

2001

Legal Domicile

Principal Officer

KEVIN WIEDELMAN

Phone

2489280111

Tax Period

2024-01-01 to 2024-12-31

LAURELTON NONPROFIT HOUSING CORPORATION, founded in 2001, is a small nonprofit in the Housing & Shelter sector that reported $223K in total revenue in fiscal year 2024. Expenses of $259K exceeded revenue, resulting in a 16% operating deficit.

Mission

TO PROVIDE LOW INCOME HOUSING TO INDIVIDUALS WITH DISABILITIES.

Program Service Accomplishments

Program 1

Expenses: $201,171 Revenue: $87,089

LAURELTON NON-PROFIT HOUSING CORPORATION IS A NOT-FOR-PROFIT CORPORATION FORMED IN ACCORDANCE WITH THE NOT-FOR-PROFIT STATUTES OF THE STATE OF MICHIGAN. THE CORPORATION WAS FORMED FOR THE PURPOSE OF OPERATING EIGHT RESIDENCES KNOWN AS SPRINGHILL II LOCATED IN THE METRO DETROIT AREA, WHICH PROVIDES HOUSING FOR PERSONS WITH DEVELOPMENTAL DISABILITIES PURSUANT TO SECTION 811 OF THE NATIONAL HOUSING ACT, AS AMENDED.

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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 $134,135

Program Service Revenue $87,089

Investment Income $2,139

Other Revenue $0

TOTAL REVENUE $223,363

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $201,171

Other Expenses $259,097

TOTAL EXPENSES $259,097

Year-over-Year Comparison

	2024	2023	Change
Revenue	$223,363	$227,439	0.0%
Expenses	$259,097	$236,691	+0.1%
Net Income	$-35,734	$-9,252	+2.9%

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

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
DEREK GIRTON	VICE PRESIDENT	0.50	Officer Director	$0	$0	$0
KEVIN WIEDELMAN	PRESIDENT	0.50	Officer Director	$0	$0	$0
PHILIP CLARK	SECRETARY/TREASURER	0.50	Officer Director	$0	$0	$0
GREG MCDOUGALL	DIRECTOR	0.25	Director	$0	$0	$0
MARC CRAIG	AUTHORIZED AGENT	0.50	Officer	$0	$0	$0
KIRSTEN ELLIOTT	AUTHORIZED AGENT	0.50	Officer	$0	$0	$0
SHELLEY BRINKMAN	AUTHORIZED AGENT	0.50	Officer	$0	$0	$0
CARRIE MENDOZA	AUTHORIZED AGENT	0.50	Officer	$0	$0	$0
KATHLEEN CECIL	AUTHORIZED AGENT	0.50	Officer	$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	$223,363	$259,097	$1,674,079	$-35,734
2023	$227,439	$236,691	$1,671,577	$-9,252
2022	$203,325	$233,100	$1,734,385	$-29,775
2021	$216,200	$214,452	$1,723,825	$1,748
2020	$238,297	$206,195	$1,709,077	$32,102
2019	$205,432	$196,596	$1,695,430	$8,836
2018	$194,122	$266,549	$1,677,848	$-72,427

LAURELTON NONPROFIT HOUSING CORPORATION