PUBLIC AND AFFORDABLE HOUSING RESEARCH CORP (EIN 451470844) - 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

2011

Legal Domicile

Principal Officer

EDMUND MALASPINA JR

Phone

2032728220

Tax Period

2023-01-01 to 2023-12-31

PUBLIC AND AFFORDABLE HOUSING RESEARCH CORP, founded in 2011, is a community nonprofit in the Housing & Shelter sector that reported $1.2M in total revenue in fiscal year 2023. Revenue surged 66% from the prior year, signaling strong growth momentum. The organization ran a surplus of $187K, a strong 16% operating margin.

Mission

TO PROVIDE INDEPENDENT RESEARCH AND RELEVANT DATA TO SUPPORT THE EFFORTS OF THE PUBLIC AND AFFORDABLE HOUSING INDUSTRY AND ITS STAKEHOLDERS.

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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 $1,095,667

Program Service Revenue $51,549

Investment Income $26,332

Other Revenue $0

TOTAL REVENUE $1,173,548

Expense Breakdown

Grants Paid $0

Salaries & Benefits $669,367

Fundraising Expenses $7,109

Program Expenses $652,631

Other Expenses $317,482

TOTAL EXPENSES $986,849

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,173,548	$708,466	+0.7%
Expenses	$986,849	$737,182	+0.3%
Net Income	$186,699	$-28,716	-7.5%

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

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

$3,158,448

Total Directors

$1,401,365

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
EDMUND MALASPINA	PRESIDENT & CEO	1.00	Officer Director	$0	$94,119	$903,585
SCOTT BERTRAND	BOARD CHAIR	1.00	Director	$0	$0	$50,080
EDWIN LOWNDES	BOARD MEMBER	1.00	Director	$0	$0	$40,100
DOUGLAS DZEMA	BOARD MEMBER	1.00	Director	$0	$0	$40,076
JAMES DIPAOLO	BOARD MEMBER	1.00	Director	$0	$0	$40,076
JANE W SMITH	BOARD MEMBER	1.00	Director	$0	$0	$41,552
MARY SMITH	BOARD MEMBER	1.00	Director	$0	$0	$41,124
JEFFERY PATTERSON	BOARD VICE CHAIR	1.00	Director	$0	$0	$44,072
RUSTY YOUNG	BOARD MEMBER	1.00	Director	$0	$0	$40,000
FERNANDO ANIBAN	BOARD MEMBER	1.00	Director	$0	$0	$39,200
RICHARD BROWNE	BOARD MEMBER	1.00	Director	$0	$0	$40,100
VINCE PEARSON	BOARD MEMBER	1.00	Director	$0	$0	$41,300
KEVIN L LOSO	BOARD MEMBER	1.00	Director	$0	$0	$40,100
DUANE HOPKINS	BOARD MEMBER	1.00	Director	$0	$0	$0
EDELMIRO HINOJOSA	BOARD MEMBER	1.00	Director	$0	$0	$0
AMY GALVIN	CGO & CORP SECRETARY	1.00	Officer	$0	$93,119	$457,094
TROY LEPAGE	COO & CFO	1.00	Officer	$0	$92,419	$473,748
SHERRYL SULLIVAN	CHIEF INSURANCE OFFICER	1.00	Officer	$0	$67,399	$434,459
COURTNEY RICE	CHIEF COMMUNICATIONS OFFICER	5.00	Officer	$0	$85,086	$370,094
PAUL LAGONIGRO	DIRECTOR OF FINANCE	1.00	Officer	$0	$79,001	$315,764
KENNETH JR MERRIFIELD	VP & DIR. OF ACCT. MGMT UNTIL 8/2023	1.00	Officer	$0	$29,407	$203,704

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	$1,173,548	$986,849	$234,331	$186,699
2022	$708,466	$737,182	$393,106	$-28,716
2021	$630,273	$656,688	$117,258	$-26,415
2020	$528,384	$590,917	$475,952	$-62,533
2019	$425,740	$482,459	$374,755	$-56,719
2018	$355,972	$353,272	$264,739	$2,700

PUBLIC AND AFFORDABLE HOUSING RESEARCH CORP