HOMESTEAD RESIDENCE INC

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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

2006

Legal Domicile

Principal Officer

HYACINTH AKUNNE

Tax Period

2024-10-01 to 2025-09-30

HOMESTEAD RESIDENCE INC, founded in 2006, is a community nonprofit in the Mental Health sector that reported $1.0M in total revenue in fiscal year 2024.

Mission

To provide round the clock residential services to adults with mental illness, aged, homeless and developmentally disabled.

Program Service Accomplishments

Program 1

Expenses: $973,585 Revenue: $1,032,002

We provided the following to all individual placed in our facilities: Secured residence, meals, 24 hour staffing, medication management, safety and transportation to and from all outside appointments.

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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 $1,032,002

Investment Income $0

Other Revenue $0

TOTAL REVENUE $1,032,002

Expense Breakdown

Grants Paid $0

Salaries & Benefits $787,212

Fundraising Expenses $0

Program Expenses $973,585

Other Expenses $246,164

TOTAL EXPENSES $1,033,376

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,032,002	$1,014,336	+0.0%
Expenses	$1,033,376	$852,959	+0.2%
Net Income	$-1,374	$161,377	-1.0%

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

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

$23,999

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
HYACINTH AKUNNE	PRESIDENT	15.00	Officer	$23,999	$0	$23,999
JOSEPH NWABUEZE	CHAIRPERSON	0.00	Officer Director	$0	$0	$0
BARBARA OKON	SECRETARY	0.00	Officer Director	$0	$0	$0
OBIOMA NWACHUKWU	TREASURER	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
2025	$1,032,002	$1,033,376	$294,416	$-1,374
2024	$1,014,336	$852,959	$340,755	$161,377
2023	$742,882	$898,251	$163,846	$-155,369
2022	$1,055,629	$1,028,976	$319,215	$26,653
2021	$769,331	$908,538	$619,562	$-139,207
2020	$664,603	$676,905	$748,769	$-12,302
2019	$785,859	$683,447	$543,223	$102,412
2018	$776,582	$778,299	$316,659	$-1,717