MCDOWELL HOUSING CORPORATION

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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

1979

Legal Domicile

Principal Officer

LARRY RAMSEY

Phone

3367653906

Tax Period

2024-01-01 to 2024-12-31

MCDOWELL HOUSING CORPORATION, founded in 1979, is a small nonprofit in the Housing & Shelter sector that reported $611K in total revenue in fiscal year 2024.

Mission

TO PROVIDE LOW INCOME HOUSING TO FAMILIES AND INDIVIDUALS IN MARION, NORTH CAROLINA.

Program Service Accomplishments

Program 1

Expenses: $485,919 Revenue: $189,290

MCDOWELL HOUSING CORPORATION, A NORTH CAROLINA NOTFORPROFIT CORPORATION, WAS ORGANIZED TO CONSTRUCT, OWN AND OPERATE A 60UNIT APARTMENT COMMUNITY IN MARION, NORTH CAROLINA, KNOWN AS BLUE RIDGE...

MCDOWELL HOUSING CORPORATION, A NORTH CAROLINA NOTFORPROFIT CORPORATION, WAS ORGANIZED TO CONSTRUCT, OWN AND OPERATE A 60UNIT APARTMENT COMMUNITY IN MARION, NORTH CAROLINA, KNOWN AS BLUE RIDGE TERRACE APARTMENTS, PURSUANT TO SECTION 223(F) OF THE NATIONAL HOUSING ACT AS AMENDED. THE CORPORATION HAS ENTERED INTO THE STANDARD FHA REGULATORY AGREEMENTS GOVERNING THE OPERATION OF THE COMMUNITY WITH THE FEDERAL HOUSING ADMINISTRATION SECTION OF HUD. A HOUSING ASSISTANCE PAYMENT CONTRACT (HAP) PROVIDES RENT FOR LOW INCOME FAMILIES (OR PERSONS) AS PROVIDED BY THE SECTION 8 PROGRAM OF THE NATIONAL HOUSING ACT.

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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 $411,536

Program Service Revenue $189,290

Investment Income $273

Other Revenue $10,087

TOTAL REVENUE $611,186

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $485,919

Other Expenses $604,934

TOTAL EXPENSES $604,934

Year-over-Year Comparison

	2024	2023	Change
Revenue	$611,186	$596,634	+0.0%
Expenses	$604,934	$616,829	0.0%
Net Income	$6,252	$-20,195	-1.3%

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	Role	Reportable Comp	Other Comp	Total
LARRY RAMSEY	PRESIDENT	Officer Director	$0	$0	$0
ALLEN MCKINNEY	VICE PRESIDENT	Officer Director	$0	$0	$0
JAMES WASHBURN	SECRETARY/TREASURER	Officer Director	$0	$0	$0
LARRY BYRD	DIRECTOR	Director	$0	$0	$0
JANE WOODARD	DIRECTOR	Director	$0	$0	$0
DOUG JOHNSON	DIRECTOR	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
2024	$611,186	$604,934	$1,063,931	$6,252
2023	$596,634	$616,829	$1,079,181	$-20,195
2022	$586,096	$511,280	$1,095,051	$74,816
2021	$576,174	$458,870	$1,056,935	$117,304
2020	$570,643	$470,492	$970,154	$100,151
2019	$554,264	$511,835	$899,991	$42,429
2018	$544,071	$498,886	$892,478	$45,185