COMMUNITY HOUSING MGMT CORP

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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

1981

Legal Domicile

Principal Officer

JOAN DENISON

Phone

3144321610

Tax Period

2024-01-01 to 2024-12-31

COMMUNITY HOUSING MGMT CORP, founded in 1981, is a community nonprofit in the Housing & Shelter sector that reported $2.1M in total revenue in fiscal year 2024. Revenue grew 15% year-over-year, indicating healthy expansion. The organization ran a surplus of $604K, a strong 29% operating margin.

Mission

COMMUNITY HOUSING MANAGEMENT CORP. (CHMC) PROVIDES MANAGEMENT AND ADMINISTRATIVE SERVICES TO THESE RELATED ORGANIZATIONS: COVENANT PLACE FOUNDATION (CPF), COVENANT PLACE SENIOR CENTER, INC. (CPSC), COVENANT PLACE I, LLC (CP1), COVENANT PLACE II, LLC (CP2), AND COVENANT PLACE III, LLC (CP3). THE RELATED ORGANIZATIONS ARE DEDICATED TO PROVIDING AFFORDABLE SENIOR HOUSING TO LIMITED INCOME ELDERLY. IN ADDITION TO PROVIDING SAFE HOUSING IN A CARING ENVIRONMENT, THE ORGANIZATIONS PROVIDE AND HELP RESIDENTS CONNECT WITH SUPPORTIVE HEALTH, WELLNESS, EDUCATION, NUTRITION, AND SOCIALIZATION SERVICES AND PROGRAMS. CHMC EMPLOYS ALL EMPLOYEES, PAYS ALL BILLS AND GENERALLY MANAGES THE OPERATIONS OF CPF, CPSC, CP1, CP2, AND CP3 IN EXCHANGE FOR A MANAGEMENT FEE FROM THE CURRENT AND FORMER PROPERTIES. CHMC ALSO PROVIDES OVERSIGHT OF THE DEVELOPMENT OF CP3.

Program Service Accomplishments

Program 1

Expenses: $1,193,360 Revenue: $1,370,161

PROVIDING MANAGEMENT SERVICES FOR NOT-FOR-PROFIT, HUD SUBSIDIZED, AFFORDABLE SENIOR LIVING FACILITIES AND FOR SERVICES/PROGRAMS THAT SUPPORT THE QUALITY OF LIFE FOR FACILITY RESIDENTS AND AREA...

PROVIDING MANAGEMENT SERVICES FOR NOT-FOR-PROFIT, HUD SUBSIDIZED, AFFORDABLE SENIOR LIVING FACILITIES AND FOR SERVICES/PROGRAMS THAT SUPPORT THE QUALITY OF LIFE FOR FACILITY RESIDENTS AND AREA SENIORS, INCLUDING MANAGEMENT OF THE DEVELOPMENT OF NEW AFFORDABLE SENIOR LIVING FACILITIES NEEDED TO REPLACE EXISTING UNITS UNDER MANAGEMENT.

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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 $1,370,161

Investment Income $709,061

Other Revenue $0

TOTAL REVENUE $2,079,222

Expense Breakdown

Grants Paid $0

Salaries & Benefits $196,218

Fundraising Expenses $0

Program Expenses $1,193,360

Other Expenses $1,279,149

TOTAL EXPENSES $1,475,367

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,079,222	$1,811,126	+0.1%
Expenses	$1,475,367	$682,783	+1.2%
Net Income	$603,855	$1,128,343	-0.5%

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

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

$401,235

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RICHARD ALPORT	BOARD CHAIR	6.00	Officer Director	$0	$0	$0
BRIAN NEWMAN	1ST VICE CHAIR	2.00	Officer Director	$0	$0	$0
JAY KWESKIN	2ND VICE CHAIR	2.00	Officer Director	$0	$0	$0
BARRY SPIEGELGLASS	VICE CHAIR BUILDING DEVELOPMENT	4.00	Officer Director	$0	$0	$0
TODD COHEN	TREASURER	2.00	Officer Director	$0	$0	$0
EDIE JANSSON	SECRETARY	2.00	Officer Director	$0	$0	$0
HOWARD ROSEN	IMMEDIATE PAST CHAIR	2.00	Officer Director	$0	$0	$0
EDDIE CHERRY	DIRECTOR	2.00	Director	$0	$0	$0
STEPHEN DAVIS	DIRECTOR	2.00	Director	$0	$0	$0
STUART GREENBAUM	DIRECTOR	2.00	Director	$0	$0	$0
MICHAEL HAMBURG	DIRECTOR	2.00	Director	$0	$0	$0
ADAM HENDIN	DIRECTOR	2.00	Director	$0	$0	$0
CHRISTI JOHNANINGMEYER	DIRECTOR	2.00	Director	$0	$0	$0
AMY LAMPERT	DIRECTOR	2.00	Director	$0	$0	$0
ANNA MARIA LEHRKE	DIRECTOR	2.00	Director	$0	$0	$0
SUE MATLOF	DIRECTOR	2.00	Director	$0	$0	$0
JESSICA MIROWITZ	DIRECTOR	2.00	Director	$0	$0	$0
PATRICK O'BASUTI	DIRECTOR	2.00	Director	$0	$0	$0
BONNIE SOLOMON	DIRECTOR	2.00	Director	$0	$0	$0
JOAN DENISON	PRESIDENT AND CEO	36.00	Officer	$245,785	$17,274	$263,059
NANCY HAWK	CHIEF FINANCIAL OFFICER	20.00	Officer	$125,419	$12,757	$138,176

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	$2,079,222	$1,475,367	$33,669,071	$603,855
2023	$1,811,126	$682,783	$32,249,768	$1,128,343
2022	$18,068,040	$908,296	$31,036,934	$17,159,744
2021	$6,642,699	$522,306	$13,858,312	$6,120,393
2021	$1,044,996	$1,014,604	$12,859,585	$30,392
2020	$1,418,458	$12,154,998	$12,713,160	$-10,736,540
2019	$1,475,297	$984,417	$23,049,533	$490,880