INTERFAITH HOUSING DEVELOPMENT COR… - 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

1982

Legal Domicile

Principal Officer

MIKE WATKINS

Phone

8284550406

Tax Period

2022-01-01 to 2022-12-31

INTERFAITH HOUSING DEVELOPMENT CORPORATION OF HICKORY, founded in 1982, is a micro nonprofit in the Housing & Shelter sector that reported $78K in total revenue in fiscal year 2022. Revenue grew 15% year-over-year, indicating healthy expansion. The organization ran a surplus of $25K, a strong 32% operating margin.

Mission

TO PROVIDE AFFORDABLE LOW-INCOME HOUSING FOR DISADVANTAGED INDIVIDUALS

Program Service Accomplishments

Program 1

Expenses: $44,913 Revenue: $77,597

LOW-INCOME APARTMENTS FOR LOW-INCOME RESIDENTS IN THE RIDGEVIEW AREA OF HICKORY, A LOW-INCOME HOUSING DEVELOPMENT AREA WITH APPROXIMATELY 50 PERSONS IN 10 APARTMENTS.

Program 2

INTER-FAITH HOUSING AND THE CITY OF HICKORY APPROVE APPLICATIONS FOR DOWN-PAYMENT ASSISTANCE TO PURCHASE HOMES IN THE RIDGEVIEW AREA.

Program 3

OPERATION OF THE OLD RIDGEVIEW LIBRARY THAT WAS DONATED BY THE CITY OF HICKORY TO PRESERVE ITS HISTORICAL NATURE. LOCATED IN THE RIDGEVIEW AREA.

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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 (2022)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $77,597

Investment Income $0

Other Revenue $0

TOTAL REVENUE $77,597

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $44,913

Other Expenses $52,512

TOTAL EXPENSES $52,512

Year-over-Year Comparison

	2022	2021	Change
Revenue	$77,597	$67,696	+0.1%
Expenses	$52,512	$52,337	+0.0%
Net Income	$25,085	$15,359	+0.6%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL WATKINS	TREASURER	3.00	Officer Director	$0	$0	$0
DAVID ROBERTS	VICE-PRESIDENT	3.00	Officer Director	$0	$0	$0
ANTONIO LOGAN	PRESIDENT	3.00	Officer 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
2022	$77,597	$52,512	$294,430	$25,085
2021	$67,696	$52,337	$291,629	$15,359

INTERFAITH HOUSING DEVELOPMENT CORPORATION OF HICKORY