MILFORD HOUSING DEVELOPMENT CORP

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

1977

Legal Domicile

Principal Officer

DAVID MOORE

Phone

3024228255

Tax Period

2023-01-01 to 2023-12-31

MILFORD HOUSING DEVELOPMENT CORP, founded in 1977, is a mid-sized nonprofit in the Housing & Shelter sector that reported $10.3M in total revenue in fiscal year 2023. Expenses of $11.6M exceeded revenue, resulting in a 13% operating deficit.

Mission

THE MISSION OF THE MHDC IS TO PROVIDE DECENT, SAFE, AND AFFORDABLE HOUSING SOLUTIONS FOR PEOPLE OF MODEST MEANS.

Program Service Accomplishments

Program 1

Expenses: $9,676,059 Revenue: $8,197,328

TO PROVIDE AND MANAGE 189 LOW TO MODERATE INCOME HOUSING UNITS SUBSIDIZED BY HUD AND USDA-RD, GOVERNED BY HUD AND USDA REGULATIONS; TO PROVIDE ASSISTANCE TO INDIVIDUALS UNDER THE USDA SELF HELP...

TO PROVIDE AND MANAGE 189 LOW TO MODERATE INCOME HOUSING UNITS SUBSIDIZED BY HUD AND USDA-RD, GOVERNED BY HUD AND USDA REGULATIONS; TO PROVIDE ASSISTANCE TO INDIVIDUALS UNDER THE USDA SELF HELP HOUSING PROGRAM; TO REHABILITATE HOMES FOR SALE TO FAMILIES OF MODEST MEANS; TO PROVIDE CONSTRUCTION SERVICES TO ENTITIES PROVIDING HOUSING TO FAMILIES OF MODEST MEANS; TO MAINTAIN THE FINANCIAL AND COMPLIANCE RECORDS TO ENSURE THE FAMILIES OF MODEST MEANS ARE RECEIVING THE PROPER BENEFITS

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $2,469,189

Program Service Revenue $7,937,713

Investment Income $50,274

Other Revenue $-190,776

TOTAL REVENUE $10,266,400

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,954,897

Fundraising Expenses $106,058

Program Expenses $9,676,059

Other Expenses $7,672,796

TOTAL EXPENSES $11,627,693

Year-over-Year Comparison

	2023	2022	Change
Revenue	$10,266,400	$10,610,866	0.0%
Expenses	$11,627,693	$10,971,772	+0.1%
Net Income	$-1,361,293	$-360,906	+2.8%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

192

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
NANCY CHOMA	DIRECTOR	N/A	Director	$0	$0	$0
MARGARET GALLEGO	DIRECTOR	N/A	Director	$0	$0	$0
JOSEPH HERBERT	DIRECTOR	N/A	Director	$0	$0	$0
THOMAS HOULIHAN	VICE CHAIR	N/A	Director	$0	$0	$0
LISA KIRKWOOD	DIRECTOR	N/A	Director	$0	$0	$0
MATTHEW PARKS	CHAIR	N/A	Director	$0	$0	$0
REV THOMAS PASMORE	DIRECTOR	N/A	Director	$0	$0	$0
TIMOTHY RILEY	DIRECTOR	N/A	Director	$0	$0	$0
LINDA ROGERS	DIRECTOR	N/A	Director	$0	$0	$0
RUSSELL HUXTABLE	VICE PRES.	N/A	Officer	$0	$0	$0
JENNIFER KINTZ	TREASURER	N/A	Officer	$0	$0	$0
DAVID MOORE	PRESIDENT	N/A	Officer	$0	$0	$0
CHRISTINA STANLEY	VICE PRESIDE	N/A	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
2024	No data	No data	No data	No data
2023	$10,266,400	$11,627,693	$33,484,014	$-1,361,293
2022	$10,610,866	$10,971,772	$32,022,744	$-360,906
2021	$10,337,525	$10,122,363	$34,677,401	$215,162
2020	$12,513,663	$10,399,363	$39,375,823	$2,114,300
2019	$14,754,367	$13,952,533	$44,806,240	$801,834
2018	$9,869,779	$11,757,170	$47,239,306	$-1,887,391