ALBEMARLE HOUSING IMPROVEMENT PROG… - 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

1976

Legal Domicile

Principal Officer

CORY DEMCHAK

Phone

4348172447

Tax Period

2024-07-01 to 2025-06-30

ALBEMARLE HOUSING IMPROVEMENT PROGRAM INC, founded in 1976, is a community nonprofit in the Housing & Shelter sector that reported $2.3M in total revenue in fiscal year 2024. Revenue decreased 9% compared to the prior year. Expenses of $2.1M left a modest 9% surplus.

Mission

ALBEMARLE HOUSING IMPROVEMENT PROGRAM (AHIP) IS A NON-PROFIT, STATE LICENSED CLASS-A CONTRACTOR WHO COMPLETES CRITICAL REPAIRS, ENERGY EFFICIENT UPGRADES, SAFETY AND ACCESSIBILITY MODIFICATIONS, AND TOTAL HOME REHABS. OUR MISSION IS TO ENSURE SAFE AND AFFORDABLE HOMES FOR OUR NEIGHBORS IN NEED. SINCE 1976, WE HAVE SERVED MORE THAN 4,700 HOUSEHOLDS IN OUR COMMUNITY. NEARLY A TENTH OF CHARLOTTESVILLE AND ALBEMARLE HOMEOWNERS ARE SEVERELY COST BURDENED. THIS MEANS THAT CRITICAL REPAIRS, INCLUDING HVAC, ROOFING, PLUMBING, ELECTRICAL, AND STRUCTURAL REPAIRS, ARE BEYOND REACH. BY PROVIDING REPAIR SERVICES TO INCOME-ELIGIBLE HOMEOWNERS, WE CAN PRESERVE THE HOUSES IN THE NEIGHBORHOODS THAT MAKE UP OUR VIBRANT COMMUNITY. HOME REPAIRS PRESERVE OUR CLIENTS' GREATEST ASSET, THEIR HOME, AND HELPS BUILD GENERATIONAL WEALTH. HOUSING REPAIRS ALSO POSITIVELY AFFECT PHYSICAL AND MENTAL HEALTH WHILE ACCESSIBILITY MODIFICATIONS ENSURE THAT OUR SENIOR CLIENTS CAN AGE IN PLACE SAFELY WITH DIGNITY.

Program Service Accomplishments

Program 1

Expenses: $1,879,837 Revenue: $69,526

ALBEMARLE HOUSING IMPROVEMENT PROGRAM (AHIP) PROVIDES CRITICAL HOME REPAIR FOR INCOME-ELIGIBLE FAMILIES IN THE CHARLOTTESVILLE AND ALBEMARLE AREA. OUR ORGANIZATION IS A CLASS-A CONTRACTOR WITH FULL LEAD ABATEMENT CERTIFICATIONS. AHIP TAKES A MULTIFACETED APPROACH TO TACKLING HOUSING NEEDS BY CARRYING OUT CRITICAL REPAIRS, COMPREHENSIVE HOME REHABILITATIONS, ENERGY-EFFICIENCY UPGRADES, AND SAFETY AND ACCESSIBILITY CONCERNS. OUR CRITICAL REPAIR PROGRAMS ADDRESS BASIC SAFETY AND HEALTH CONCERNS AT HOME: FAILING ROOFS, LACK OF HEAT, FAILED WELLS AND SEPTIC SYSTEMS, FAULTY PLUMBING, DANGEROUS ELECTRICAL SYSTEMS, UNSAFE STRUCTURES, PEELING PAINT, DILAPIDATED KITCHENS AND BATHROOMS, MOLD, HAZARDOUS STEPS, LACK OF INSULATION, AND BROKEN WINDOWS AND DOORS. TOGETHER WITH OUR DONORS, BUSINESS PARTNERS, VOLUNTEERS, AND ADVOCATES, LAST YEAR, WE KEPT 170 PEOPLE SAFE AND SECURE BY IMPROVING 82 HOMES WITH 180 CRITICAL REPAIRS AND RETROFITS.

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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 $2,074,714

Program Service Revenue $69,526

Investment Income $178,813

Other Revenue $463

TOTAL REVENUE $2,323,516

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,142,142

Fundraising Expenses $140,585

Program Expenses $1,879,837

Other Expenses $975,204

TOTAL EXPENSES $2,117,346

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,323,516	$2,550,584	-0.1%
Expenses	$2,117,346	$2,340,006	-0.1%
Net Income	$206,170	$210,578	0.0%

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

$209,633

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KRISTIN SZAKOS	PRESIDENT	1.00	Officer Director	$0	$0	$0
WAKI WYNN	VICE PRESIDE	1.00	Officer Director	$0	$0	$0
MARGARET ANDERSON	TREASURER	1.00	Officer Director	$0	$0	$0
FELICE BOLING-KEY	MEMBER	1.00	Director	$0	$0	$0
STEPHEN MURPHY	MEMBER	1.00	Director	$0	$0	$0
SUZANNE MORSE MOOMAW PHD	MEMBER	1.00	Director	$0	$0	$0
CARMELITA WOOD	MEMBER	1.00	Director	$0	$0	$0
CHARLEY LEWIS	MEMBER	1.00	Director	$0	$0	$0
KIM VAN SAVAGE	MEMBER	1.00	Director	$0	$0	$0
CORY DEMCHAK	EXECUTIVE DI	40.00	Officer	$103,943	$13,908	$117,851
CRAIG KAISER	CFO	40.00	Officer	$77,891	$13,891	$91,782

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	$2,323,516	$2,117,346	$7,988,172	$206,170
2024	$2,550,584	$2,340,006	$7,515,575	$210,578
2023	$2,998,331	$1,965,142	$7,067,130	$1,033,189
2022	$2,349,511	$2,177,831	$5,952,367	$171,680
2021	$5,756,026	$2,270,941	$5,877,628	$3,485,085
2020	$3,120,764	$2,702,139	$2,958,040	$418,625
2019	$3,174,379	$3,548,718	$2,164,322	$-374,339
2018	$3,037,195	$3,474,583	$2,301,850	$-437,388

ALBEMARLE HOUSING IMPROVEMENT PROGRAM INC