HOMESTEAD AFFORDABLE HOUSING 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

1998

Legal Domicile

Principal Officer

THOMAS BISHOP

Phone

7853640110

Tax Period

2023-01-01 to 2023-12-31

HOMESTEAD AFFORDABLE HOUSING INC, founded in 1998, is a community nonprofit in the Housing & Shelter sector that reported $1.3M in total revenue in fiscal year 2023. Expenses of $1.7M exceeded revenue, resulting in a 29% operating deficit.

Mission

HOMESTEAD AFFORDABLE HOUSING, INC. MISSION IS TO DEVELOP AFFORDABLE HOUSING AND HELP RURAL KANSAS COMMUNITIES ACHIEVE SUSTAINABLE DEVELOPMENT.

Program Service Accomplishments

Program 1

Expenses: $1,535,410 Revenue: $1,232,728

HAH DEVELOPS AND MANAGES AFFORDABLE SENIOR APARTMENT COMMUNITIES IN RURAL TOWNS, FUNDED WITH GRANTS, LOANS AND DONATED LAND. HAH PROVIDES EMERGENCY AND ESSENTIAL REPAIRS FOR LOW INCOME ELDERLY...

HAH DEVELOPS AND MANAGES AFFORDABLE SENIOR APARTMENT COMMUNITIES IN RURAL TOWNS, FUNDED WITH GRANTS, LOANS AND DONATED LAND. HAH PROVIDES EMERGENCY AND ESSENTIAL REPAIRS FOR LOW INCOME ELDERLY HOUSEHOLDS THROUGH GRANTS AND DONATIONS. HAH IS AN APPROVED ORIGINATOR OF USDA RURAL DEVELOPMENT 502 DIRECT LOANS PROVIDING VERY LOW INTEREST LOANS WITH NO DOWN PAYMENT TO RURAL HOME BUYERS.

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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 $28,071

Program Service Revenue $1,232,728

Investment Income $54,222

Other Revenue $0

TOTAL REVENUE $1,315,021

Expense Breakdown

Grants Paid $0

Salaries & Benefits $530,808

Fundraising Expenses $0

Program Expenses $1,535,410

Other Expenses $1,160,061

TOTAL EXPENSES $1,690,869

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,315,021	$1,378,982	0.0%
Expenses	$1,690,869	$2,552,754	-0.3%
Net Income	$-375,848	$-1,173,772	-0.7%

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

$199,064

Total Directors

$48,642

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TRISH MCALLISTER TRIPE	CHAIRPERSON	0.50	Officer Director	$0	$0	$0
BECKY FAST	VICE CHAIR	0.50	Officer Director	$0	$0	$0
RANDY HUGHES	MEMBER	0.50	Director	$0	$0	$0
CONNIE BROWN	SECRETARY/TREASURER	0.50	Officer Director	$0	$0	$0
MARCLARE BELL	MEMBER	0.50	Director	$0	$0	$0
JOHN APPEL	CFO	40.00	Officer Director	$42,735	$5,907	$48,642
THOMAS BISHOP	PRESIDENT & CEO	40.00	Officer	$89,225	$30,453	$119,678
MARSHA MOTTO	FINANCE OFFICER	40.00	Officer	$23,380	$7,364	$30,744

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	$1,315,021	$1,690,869	$11,856,989	$-375,848
2022	$1,378,982	$2,552,754	$12,702,390	$-1,173,772
2021	$1,680,665	$1,723,158	$14,609,660	$-42,493
2020	$1,395,481	$1,645,480	$15,339,588	$-249,999
2019	$1,715,971	$1,454,822	$15,813,314	$261,149
2018	$1,576,275	$1,363,204	$15,999,720	$213,071