HOMESTEAD AFFORDABLE DEVELOPMENT CORPORATION (EIN 471656765) - 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

2014

Legal Domicile

Principal Officer

HOWARD CONANT

Phone

3122220777

Tax Period

2020-01-01 to 2020-12-31

HOMESTEAD AFFORDABLE DEVELOPMENT CORPORATION, founded in 2014, is a small nonprofit that reported $242K in total revenue in fiscal year 2020. Revenue surged 396% from the prior year, signaling strong growth momentum. Expenses of $2.0M exceeded revenue, resulting in a 721% operating deficit.

Mission

HADC'S MISSION IS TO PROVIDE AFFORDABLE HOUSING TO MODERATE AND LOW INCOME FAMILIES AND SENIORS IN THE MIDWEST REGION OF THE UNITED STATES. ONE OF THE MOST PRESSING PROBLEMS IN THE MIDWEST, AND ACROSS THE U.S., HAS BEEN AND CONTINUES TO BE PROVIDING ADEQUATE, SAFE AND CLEAN AFFORDABLE HOUSING FOR THE VERY LOW, LOW AND MODERATE INCOME FAMILIES AND SENIOR CITIZENS. AS THE U.S. ECONOMY IMPROVES, IT HAS LEFT IN ITS WAKE A LARGER DIVIDE IN RENTAL PRICES AND THE "HOUSING WAGE."

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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 (2020)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $0

Investment Income $241,500

Other Revenue $0

TOTAL REVENUE $241,500

Expense Breakdown

Grants Paid $1,824,737

Salaries & Benefits $38,400

Fundraising Expenses $0

Program Expenses $1,855,457

Other Expenses $118,763

TOTAL EXPENSES $1,981,900

Year-over-Year Comparison

	2020	2019	Change
Revenue	$241,500	$48,701	+4.0%
Expenses	$1,981,900	$98,947	+19.0%
Net Income	$-1,740,400	$-50,246	+33.6%

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

$38,400

Total Directors

$38,400

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MONICA MAKIN	EXECUTIVE DIRECTOR	20	Officer Director	$38,400	$0	$38,400
HOWARD CONANT	PRESIDENT/TREASURER	1	Officer Director	$0	$0	$0
MEREDITH GEORGE	SECRETARY	1	Officer Director	$0	$0	$0
JEFFREY FREIDMAN	BOARD MEMBER	1	Director	$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
2020	$241,500	$1,981,900	No data	$-1,740,400
2019	$48,701	$98,947	$2,039,448	$-50,246
2018	$28,449	$155,886	$1,731,344	$-127,437

HOMESTEAD AFFORDABLE DEVELOPMENT CORPORATION