FOUNDATION FOR AFFORDABLE HOUSING (EIN 470785685) - 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

1995

Legal Domicile

Principal Officer

MARK HIATT

Phone

4025064985

Tax Period

2023-01-01 to 2023-12-31

FOUNDATION FOR AFFORDABLE HOUSING, founded in 1995, is a mid-sized nonprofit in the Housing & Shelter sector that reported $72.6M in total revenue in fiscal year 2023. Expenses of $94.7M exceeded revenue, resulting in a 31% operating deficit.

Mission

THE FOUNDATION FOR AFFORDABLE HOUSING HAS BEEN FORMED FOR THE EXEMPT PURPOSE OF CONSTRUCTION, PURCHASING, OWNING, AND OPERATING AFFORDABLE HOUSING FOR LOW AND MODERATE INCOME INDIVIDUALS AND FAMILIES.

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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 $0

Program Service Revenue $70,588,856

Investment Income $1,396,948

Other Revenue $567,252

TOTAL REVENUE $72,553,056

Expense Breakdown

Grants Paid $0

Salaries & Benefits $7,754,547

Fundraising Expenses $0

Program Expenses $92,147,610

Other Expenses $86,994,522

TOTAL EXPENSES $94,749,069

Year-over-Year Comparison

	2023	2022	Change
Revenue	$72,553,056	$68,326,602	+0.1%
Expenses	$94,749,069	$88,011,731	+0.1%
Net Income	$-22,196,013	$-19,685,129	+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

$1,674,900

Total Directors

$1,024,700

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARK HIATT	PRESIDENT	55.00	Officer Director	$995,000	$0	$995,000
DREW FITCH	VICE PRESIDENT	5.00	Officer Director	$9,900	$0	$9,900
DAVE WILKINSON	DIRECTOR	1.00	Director	$9,900	$0	$9,900
STEVE COCRELL	DIRECTOR	1.00	Director	$9,900	$0	$9,900
MITCHELL HIATT	VICE PRESIDENT AND GENERAL	60.00	Officer	$395,000	$0	$395,000
SHARISE ENGEL	CHIEF FINANCIAL OFFICER	35.00	Officer	$275,000	$0	$275,000

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	$72,553,056	$94,749,069	$643,645,928	$-22,196,013
2022	$68,326,602	$88,011,731	$662,375,296	$-19,685,129
2021	$34,736,721	$48,939,935	$529,060,224	$-14,203,214
2020	$11,783,178	$18,029,481	$186,551,161	$-6,246,303
2019	$3,898,223	$4,331,933	$31,589,578	$-433,710
2018	$4,423,391	$5,507,949	$31,619,576	$-1,084,558

FOUNDATION FOR AFFORDABLE HOUSING