SOLON COMMUNITY HOUSING CORPORATION (EIN 421247249) - 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

1998

Legal Domicile

Principal Officer

ALLEN PHILLIPS

Phone

3194806676

Tax Period

2023-01-01 to 2023-12-31

SOLON COMMUNITY HOUSING CORPORATION, founded in 1998, is a small nonprofit in the Housing & Shelter sector that reported $126K in total revenue in fiscal year 2023. Revenue fell 33% from the prior year — a significant decline worth monitoring. Expenses of $139K exceeded revenue, resulting in a 10% operating deficit.

Mission

TO PROVIDE AFFORDABLE HOUSING TO LOW INCOME RESIDENTS AGE 62 AND OVER, OR DISABLED REGARDLESS OF AGE.

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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 $0

Program Service Revenue $123,914

Investment Income $2,098

Other Revenue $75

TOTAL REVENUE $126,087

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $119,136

Other Expenses $138,965

TOTAL EXPENSES $138,965

Year-over-Year Comparison

	2023	2022	Change
Revenue	$126,087	$189,002	-0.3%
Expenses	$138,965	$109,399	+0.3%
Net Income	$-12,878	$79,603	-1.2%

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

$8,135

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ALLEN PHILLIPS	PRESIDENT	4.00	Officer Director	$0	$0	$0
NEIL ERUSHA	VICE PRESIDE	4.00	Officer Director	$0	$0	$0
MARK TAKES	DIRECTOR	4.00	Director	$0	$0	$0
NANCY UPMEYER	TREASURER	4.00	Officer Director	$0	$0	$0
SCOTT SHULISTA	DIRECTOR	4.00	Director	$0	$0	$0
DEE DOWNEY-PATA	MANAGER	4.00	Officer	$8,135	$0	$8,135

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	No data	No data	No data	No data
2023	$126,087	$138,965	$675,844	$-12,878
2022	$189,002	$109,399	$688,722	$79,603
2021	$122,678	$110,075	$724,503	$12,603
2020	$113,168	$104,503	$719,250	$8,665
2019	$123,798	$114,960	$723,501	$8,838
2018	$111,098	$104,869	$788,918	$6,229

SOLON COMMUNITY HOUSING CORPORATION