LYNN HOUSING AUTHORITY DEVELOPMENT… - 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

2002

Legal Domicile

Principal Officer

STEPHEN MARTIN

Phone

7815818600

Tax Period

2023-01-01 to 2023-12-31

LYNN HOUSING AUTHORITY DEVELOPMENT GROUP INC, founded in 2002, is a small nonprofit in the Housing & Shelter sector that reported $650K in total revenue in fiscal year 2023. Revenue fell 38% from the prior year — a significant decline worth monitoring.

Mission

PROVIDE CHARITABLE ASSISTANCE TO THE GENERAL PUBLIC BY PROVIDING AFFORDABLE HOUSING THROUGH THE PURCHASE, SALE, RENTING AND LEASING OF DWELLINGS.

Program Service Accomplishments

Program 1

Expenses: $332,151

RENTAL ASSISTANCE - A PROGRAM TO ASSIST INDIVIDUALS AND FAMILIES TO QUICKLY REGAIN STABILITY IN PERMANENT HOUSING AFTER EXPERIENCING A HOUSING CRISIS OR HOMELINESS, WITH TWO PROGRAM COMPONENTS...

RENTAL ASSISTANCE - A PROGRAM TO ASSIST INDIVIDUALS AND FAMILIES TO QUICKLY REGAIN STABILITY IN PERMANENT HOUSING AFTER EXPERIENCING A HOUSING CRISIS OR HOMELINESS, WITH TWO PROGRAM COMPONENTS, HOMELESSNESS PREVENTION AND REPAID RE-HOUSING.

Program 2

Expenses: $104,910

FINANCIAL COUNSELING - THE FINANCIAL COACHING PROGRAM IS DESIGNED TO HELP FAMILIES/INDIVIDUALS HAVE A BETTER UNDERSTANDING OF ONE'S FINANCES, LEADING TO FINANCIAL STABILITY. THE FINANCIAL COACHING...

FINANCIAL COUNSELING - THE FINANCIAL COACHING PROGRAM IS DESIGNED TO HELP FAMILIES/INDIVIDUALS HAVE A BETTER UNDERSTANDING OF ONE'S FINANCES, LEADING TO FINANCIAL STABILITY. THE FINANCIAL COACHING PROGRAM PROVIDES REGULAR ONE-ON-ONE AND WORKSHOP SESSIONS WITH CLIENTS IN ORDER TO GUIDE CLIENTS TO MEET THEIR GOALS AND FINANCIAL INDEPENDENCE. THE FINANCIAL COACHING PROGRAM IS A UNITED WAY SUPPORTED PROGRAM THAT CAN ASSIST WITH CREDIT BUILDING, CREDIT REPAIRING, BUDGETING, MONEY MANAGEMENT, DEBT COLLECTIONS, DELINQUENT BILLS, DEBT CONSOLIDATION, ETC.

Program 3

Expenses: $195,257

PROJECT RISE/ SEIMER PROGRAM - A COLLABORATION WITH LYNN PUBLIC SCHOOLS WORKING WITH FAMILIES EXPERIENCING HOUSING INSTABILITY AND HAVE AT LEAST ONE CHILD IN LYNN PUBLIC SCHOOLS. THIS PROGRAM OFFERS CASE MANAGEMENT AND COACHING TOWARDS A FAMILY'S HOUSING AND EDUCATION GOALS. FINANCIAL AND OTHER MATERIAL ASSISTANCE, A TWO-GENERATIONAL APPROACH TO SERVICE DELIVERY, AND A STRATEGIC PARTNERSHIP WITH THE SCHOOL DISTRICT AND OTHER LOCALSERVICE PROGRAMS.

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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 $641,351

Program Service Revenue $5,800

Investment Income $3,206

Other Revenue $0

TOTAL REVENUE $650,357

Expense Breakdown

Grants Paid $475,174

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $684,284

Other Expenses $218,879

TOTAL EXPENSES $694,053

Year-over-Year Comparison

	2023	2022	Change
Revenue	$650,357	$1,056,756	-0.4%
Expenses	$694,053	$985,016	-0.3%
Net Income	$-43,696	$71,740	-1.6%

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

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

$3,120

Total Directors

$5,040

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
STEPHEN MARTIN	CHAIRPERSON	1.00	Officer Director	$0	$0	$960
SUSAN MCGINNIS-LANG	TREASURER	1.00	Officer Director	$0	$0	$960
JUSTIN ANSEWITZ	DIRECTOR	1.00	Director	$0	$0	$960
ROBERT MUISE	DIRECTOR	1.00	Director	$0	$0	$960
KIARA PALOMARES	DIRECTOR	1.00	Director	$0	$0	$0
LAURA WALSH	FORMER CHARIPERSON (RESIGNED END 2023)	1.00	Officer Director	$0	$0	$1,200

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	$650,357	$694,053	$416,452	$-43,696
2022	$1,056,756	$985,016	$450,499	$71,740
2021	$632,602	$736,334	$366,816	$-103,732
2020	$907,493	$759,358	$477,699	$148,135
2019	$555,808	$551,389	$375,468	$4,419
2018	$633,113	$630,967	$419,698	$2,146

LYNN HOUSING AUTHORITY DEVELOPMENT GROUP INC