HOMESTEAD PLACE

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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

2000

Legal Domicile

Principal Officer

TERRY HANSON

Phone

7017462545

Tax Period

2023-01-01 to 2023-12-31

HOMESTEAD PLACE, founded in 2000, is a small nonprofit in the Housing & Shelter sector that reported $458K in total revenue in fiscal year 2023. Net assets of $1.0M represent 27 months of operating reserves.

Mission

TO PROVIDE LOW INCOME HOUSING TO ELIGIBLE PERSONS IN GRAND FORKS, ND.

Program Service Accomplishments

Program 1

Expenses: $399,822 Revenue: $170,850

HOMESTEAD PLACE PROVIDES LOW INCOME HOUSING TO ELIGIBLE PERSONS IN GRAND FORKS, ND.

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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 $286,565

Program Service Revenue $170,850

Investment Income $329

Other Revenue $0

TOTAL REVENUE $457,744

Expense Breakdown

Grants Paid $0

Salaries & Benefits $117,342

Fundraising Expenses $0

Program Expenses $399,822

Other Expenses $348,705

TOTAL EXPENSES $466,047

Year-over-Year Comparison

	2023	2022	Change
Revenue	$457,744	$432,803	+0.1%
Expenses	$466,047	$442,743	+0.1%
Net Income	$-8,303	$-9,940	-0.2%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOAN JOHNSON	PRESIDENT	1.00	Officer Director	$0	$0	$0
BRET WEBER	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
KIMISEAN LIGGETT	DIRECTOR	1.00	Director	$0	$0	$0
JENNIFER TARLIN	DIRECTOR	1.00	Director	$0	$0	$0
ZAC ISTA	DIRECTOR	1.00	Director	$0	$0	$0
JEREMY MORRIS	DIRECTOR (LEFT 8/23)	1.00	Director	$0	$0	$0
TERRY HANSON	SECRETARY/EXECUTIVE DIRECTOR	1.00	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
2023	$457,744	$466,047	$1,709,253	$-8,303
2022	$432,803	$442,743	$1,734,191	$-9,940
2021	$423,679	$379,989	$1,761,038	$43,690
2020	$417,930	$395,556	$1,736,197	$22,374
2019	$410,523	$395,397	$1,767,357	$15,126
2018	$407,179	$364,652	$1,803,889	$42,527