KERKHOVEN HOUSING ASSOCIATION INC (EIN 510158158) - 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

1975

Legal Domicile

Principal Officer

TOM BAKER

Phone

3202642871

Tax Period

2024-01-01 to 2024-12-31

KERKHOVEN HOUSING ASSOCIATION INC, founded in 1975, is a small nonprofit that reported $159K in total revenue in fiscal year 2024. Revenue grew 12% year-over-year, indicating healthy expansion.

Mission

TO PROVIDE LOW-INCOME HOUSING FOR KERKHOVEN, MN RESIDENTS.

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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 $0

Program Service Revenue $159,361

Investment Income $7

Other Revenue $0

TOTAL REVENUE $159,368

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $133,083

Other Expenses $154,923

TOTAL EXPENSES $154,923

Year-over-Year Comparison

	2024	2023	Change
Revenue	$159,368	$142,424	+0.1%
Expenses	$154,923	$152,926	+0.0%
Net Income	$4,445	$-10,502	-1.4%

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
TOM BAKER	PRESIDENT	1.00	Officer Director	$0	$0	$0
JEAN RUSTAD	VICE PRESIDE	1.00	Officer Director	$0	$0	$0
RUTH ASHBURN	DIRECTOR	1.00	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
2025	No data	No data	No data	No data
2024	$159,368	$154,923	$115,785	$4,445
2023	$142,424	$152,926	$115,188	$-10,502
2022	$145,920	$117,161	$125,102	$28,759
2021	$144,152	$125,980	$93,343	$18,172
2020	$142,758	$137,016	$76,981	$5,742
2019	$138,483	$140,989	$82,016	$-2,506
2018	$122,566	$142,066	$95,099	$-19,500

KERKHOVEN HOUSING ASSOCIATION INC