HERITAGE HOUSING PARTNERS CORPORAT… - Form 990 Financial Data

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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

1967

Legal Domicile

Principal Officer

GRACE MORRIS

Phone

4435187687

Tax Period

2024-01-01 to 2024-12-31

HERITAGE HOUSING PARTNERS CORPORATION, founded in 1967, is a community nonprofit that reported $1.8M in total revenue in fiscal year 2024. Revenue surged 165% from the prior year, signaling strong growth momentum. Net assets of $7.6M represent 51 months of operating reserves.

Mission

TO BE THE PREMIER NON-PROFIT AGENCY IN HOWARD COUNTY PROVIDING SAFE, HIGH QUALITY, AFFORDABLE RENTAL HOUSING TO LOW AND MODERATE-INCOME FAMILIES, INDIVIDUALS, SENIOR CITIZENS, AND FOR THOSE WHO ARE PHYSICALLY AND MENTALLY CHALLENGED. TO WORK IN PARTNERSHIP TO DEVELOP HOMEOWNER OPPORTUNITIES FOR LOW AND MODERATE-INCOME INDIVIDUALS AND FAMILIES IN SUPPORT OF EDUCATIONAL PROGRAMS FOR THE BETTERMENT OF LOW AND MODERATE-INCOME CHILDREN AND ADULTS IN THE COUNTY.

Program Service Accomplishments

Program 1

Expenses: $1,284,721 Revenue: $463,439

THE ORGANIZATION IS A NONPROFIT ORGANIZATION FORMED FOR THE PURPOSE OF ACQUIRING, REHABILITATING, OPERATING, MAINTAINING, AND MANAGING LOW- AND MODERATE-INCOME HOUSING PROJECTS. THE ORGANIZATION OWNS AND OR MANAGES OVER 250 UNITS IN HOWARD COUNTY AND BALTIMORE CITY. WITH THE MERGER OF HHP AND PRF, HHP NOW OWNS THE TWO PROPERTIES AND LAND ON N CHATHAM RD AND EQUITY SHARES IN NUMEROUS PROPERTIES IN THE COUNTY. DURING THE YEAR ENDED DECEMBER 31, 2024, HHP ENTERED INTO A GRANT AGREEMENT WITH HOWARD COUNTY, MARYLAND, TO PROVIDE RENTAL ASSISTANCE SERVICES APPROXIMATELY 47 TENANTS EXPERIENCING HOMELESSNESS ACROSS MULTIPLE APARTMENT COMPLEXES IN HOWARD COUNTY.

Program 2

Expenses: $428,256 Revenue: $404,444

THE ORGNIZATION OWNS A 16-UNIT RENTAL PROPERTY, OAKLAND PLACE, THAT PROVIDES AFFORDABLE HOUSING.

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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 $862,945

Program Service Revenue $806,208

Investment Income $54,204

Other Revenue $61,675

TOTAL REVENUE $1,785,032

Expense Breakdown

Grants Paid $40,722

Salaries & Benefits $302,814

Fundraising Expenses $0

Program Expenses $1,712,977

Other Expenses $1,451,051

TOTAL EXPENSES $1,794,587

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,785,032	$673,563	+1.7%
Expenses	$1,794,587	$924,834	+0.9%
Net Income	$-9,555	$-251,271	-1.0%

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

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

$104,659

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SHAUN EDDY	PRESIDENT	0.50	Officer Director	$0	$0	$0
EDWARD PLITT III	VICE PRESIDENT	0.50	Officer Director	$0	$0	$0
HEATHER SWAN	SECRETARY	0.50	Officer Director	$0	$0	$0
MARY CALDER	BOARD MEMBER	0.50	Director	$0	$0	$0
LORI CLEMONS	BOARD MEMBER	0.50	Director	$0	$0	$0
CLAUDE DE VASTEY JONES ESQ	BOARD MEMBER	0.50	Director	$0	$0	$0
SHERMAN HOWELL	BOARD MEMBER	0.50	Director	$0	$0	$0
VIPIN SAHIJWANI	BOARD MEMBER	0.50	Director	$0	$0	$0
CHARLES STOKES III	BOARD MEMBER	0.50	Director	$0	$0	$0
GRACE MORRIS	EXECUTIVE DIRECTOR	32.50	Officer	$104,254	$405	$104,659
GUY COATES	MAINTENANCE SUPERVISOR	40.00	Highest	$115,589	$5,293	$120,882

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	$1,785,032	$1,794,587	$11,289,450	$-9,555
2023	$673,563	$924,834	$11,334,376	$-251,271
2022	$877,175	$925,697	$11,635,785	$-48,522
2021	$964,765	$850,604	$11,997,487	$114,161
2020	$1,342,341	$836,295	$11,973,204	$506,046
2019	$725,921	$304,583	$11,467,858	$421,338
2018	$685,113	$271,351	$5,411,073	$413,762

HERITAGE HOUSING PARTNERS CORPORATION