Burlington Homes Inc (EIN 462518059) - 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

2013

Legal Domicile

Principal Officer

Veronica Revels

Phone

3362668421

Tax Period

2024-10-01 to 2025-09-30

Burlington Homes Inc, founded in 2013, is a community nonprofit in the Housing & Shelter sector that reported $1.5M in total revenue in fiscal year 2024. Revenue surged 37% from the prior year, signaling strong growth momentum. The organization ran a surplus of $299K, a strong 20% operating margin.

Mission

To provide affordable housing for low and very low income elderly and disabled persons in a 100 unit apartment complex located in Burlington, NC.

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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 $1,000,192

Program Service Revenue $493,174

Investment Income $11,659

Other Revenue $0

TOTAL REVENUE $1,505,025

Expense Breakdown

Grants Paid $0

Salaries & Benefits $204,038

Fundraising Expenses $0

Program Expenses $1,052,581

Other Expenses $1,002,484

TOTAL EXPENSES $1,206,522

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,505,025	$1,100,352	+0.4%
Expenses	$1,206,522	$1,053,538	+0.1%
Net Income	$298,503	$46,814	+5.4%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Brittany Brown	Chair	0.50	Officer Director	$0	$0	$0
Melinda Freeman	Vice Chair	0.50	Officer Director	$0	$0	$0
Reggie Wilson	Sec/Treasurer	0.50	Officer Director	$0	$0	$0
Millicent Cash	Trustee	0.50	Director	$0	$0	$0
Michael Graves	Trustee	0.50	Director	$0	$0	$0
Charles Carter	Trustee	0.50	Director	$0	$0	$0
Edith Smith	Trustee	0.50	Director	$0	$0	$0
Veronica Revels	President	5.00	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
2025	$1,505,025	$1,206,522	$6,047,843	$298,503
2024	$1,100,352	$1,053,538	$5,890,578	$46,814
2023	$902,516	$865,000	$5,904,095	$37,516
2022	$904,169	$842,697	$5,958,599	$61,472
2021	$883,707	$797,343	$5,979,388	$86,364
2020	$844,783	$1,159,376	$5,969,307	$-314,593
2019	$830,371	$998,349	$6,090,764	$-167,978
2018	$822,436	$1,019,498	$6,306,000	$-197,062

Burlington Homes Inc