Homes are Possible 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

1997

Legal Domicile

Phone

6052254274

Tax Period

2023-10-01 to 2024-09-30

Homes are Possible Inc, founded in 1997, is a community nonprofit in the Housing & Shelter sector that reported $4.4M in total revenue in fiscal year 2023. Revenue surged 196% from the prior year, signaling strong growth momentum. Expenses of $3.8M left a modest 14% surplus.

Mission

Facilitate and assist low and moderate income persons and families in securing good quality homes.

Program Service Accomplishments

Program 1

Expenses: $3,609,788 Revenue: $4,374,502

During the year, HAPI provided administration in grant funds to individuals to allow individuals to purhase and rehabilitate homes. In order to be eligible for grant funds, the homeowner must meet...

During the year, HAPI provided administration in grant funds to individuals to allow individuals to purhase and rehabilitate homes. In order to be eligible for grant funds, the homeowner must meet eligibility criteria based on household income and must attend home ownership classes which are provided by the organization. HAPI also provides affordable housing program grants which are available to low-income families. These grant funds can be used towards a down-payment, principal reduction, closing costs and home improvements.

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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 $1,583,469

Program Service Revenue $12,450

Investment Income $64,476

Other Revenue $2,706,441

TOTAL REVENUE $4,366,836

Expense Breakdown

Grants Paid $0

Salaries & Benefits $316,261

Fundraising Expenses $0

Program Expenses $3,609,788

Other Expenses $3,444,127

TOTAL EXPENSES $3,760,388

Year-over-Year Comparison

	2023	2022	Change
Revenue	$4,366,836	$1,476,888	+2.0%
Expenses	$3,760,388	$778,738	+3.8%
Net Income	$606,448	$698,150	-0.1%

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

$120,488

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Darin Beckius	Executive Direc	40.00	Officer	$115,969	$4,519	$120,488
Rodney Fouberg	Director	0.50	Director	$0	$0	$0
Spencer Sommers	Director	0.50	Director	$0	$0	$0
Brenda Waage	Director	0.50	Director	$0	$0	$0
Jennifer Slaight-Hansen	Director	0.50	Director	$0	$0	$0
Clarence Fjeldheim	Director	0.50	Director	$0	$0	$0
Rich Rovang	Director	0.50	Director	$0	$0	$0
Bruce Jones	Director	0.50	Director	$0	$0	$0
Gary Deibert	Director	0.50	Director	$0	$0	$0
Lonnie Anderson	Past Chair	0.50	Director	$0	$0	$0
Mike Brumbaugh	Director	0.50	Director	$0	$0	$0
Chris Frost	Director	0.50	Director	$0	$0	$0
Craig Mickelson	Director	0.50	Director	$0	$0	$0
Brent Heinert	Vice Chairman	0.50	Officer	$0	$0	$0
Cindi Walsh	Treasurer	0.50	Officer	$0	$0	$0
Barb Grosz	Chairman	0.50	Officer	$0	$0	$0
Ann Langbehn	Secretary	0.50	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
2024	$4,366,836	$3,760,388	$8,683,625	$606,448
2023	$1,476,888	$778,738	$7,443,167	$698,150
2022	$1,269,943	$864,835	$6,668,075	$405,108
2021	$1,765,321	$599,050	$6,318,038	$1,166,271
2020	$691,744	$755,897	$5,488,680	$-64,153
2019	$1,597,096	$583,815	$5,172,992	$1,013,281
2018	$989,616	$602,610	$4,178,895	$387,006