Community Affordable Housing Equit… - 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

1992

Legal Domicile

Phone

9194200063

Tax Period

2024-01-01 to 2024-12-31

Community Affordable Housing Equity Corporation, founded in 1992, is a mid-sized nonprofit in the Housing & Shelter sector that reported $17.8M in total revenue in fiscal year 2024. Revenue surged 73% from the prior year, signaling strong growth momentum. Expenses of $17.0M left a modest 4% surplus.

Mission

CAHEC'S PRIMARY MISSION IS TO RAISE CAPITAL TO FINANCE THE DEVELOPMENT OF AFFORDABLE MULTI-FAMILY RENTAL HOUSING UNDER THE PROVISIONS OF THE FEDERAL LOW-INCOME HOUSING TAX CREDIT PROGRAM (SECTION 42 OF IRC); and MAKE AVAILABLE AN ARRAY OF SUPPORTIVE SERVICE initiatives.

Program Service Accomplishments

Program 1

Expenses: $14,851,834 Revenue: $17,354,976

CAHEC RAISES AND INVESTS EQUITY CAPITAL IN QUALIFIED LOW-INCOME HOUSING TAX CREDIT AND OTHER TAX CREDIT PRODUCTS. IN 2024, CAHEC RAISED EQUITY CAPITAL OF $228,627,588 AND INVESTED IN 2,998 HOUSING...

CAHEC RAISES AND INVESTS EQUITY CAPITAL IN QUALIFIED LOW-INCOME HOUSING TAX CREDIT AND OTHER TAX CREDIT PRODUCTS. IN 2024, CAHEC RAISED EQUITY CAPITAL OF $228,627,588 AND INVESTED IN 2,998 HOUSING UNITS. CAHEC ALSO PROVIDES CAPITAL THROUGH A SERIES OF COMMUNITY INVESTMENTS WHICH EMPOWERs RESIDENTS,PROMOTEs THE DEVELOPMENT OF AFFORDABLE RENTAL AND OWNERSHIP HOUSING, AND FOSTERs SUSTAINABILITY WITHIN THE COMMUNITIES THAT it SERVES.

Program 2

Expenses: $825,254

IN 2024, CAHEC'S COMMUNITY INVESTMENTS TOTALED $825,254 TO RESIDENTS, COMMUNITIES, DEVELOPMENTS, AND ORGANIZATIONS. These initiatives, administered and funded by CAHEC, are (i) for the benefit of the residents who reside in the developments that CAHEC invests, and (ii) designed to empower residents by encouraging them to set and achieve goals, strengthen job skills, and take care of their community.

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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 $187,803

Program Service Revenue $17,354,976

Investment Income $214,425

Other Revenue $0

TOTAL REVENUE $17,757,204

Expense Breakdown

Grants Paid $207,518

Salaries & Benefits $10,914,694

Fundraising Expenses $0

Program Expenses $15,677,088

Other Expenses $5,907,802

TOTAL EXPENSES $17,030,014

Year-over-Year Comparison

	2024	2023	Change
Revenue	$17,757,204	$10,248,278	+0.7%
Expenses	$17,030,014	$14,733,274	+0.2%
Net Income	$727,190	$-4,484,996	-1.2%

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

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

$2,144,071

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Andrew Bowden	Board Member	1.0	Director	$0	$0	$0
Anne Conner	Chairman of the Board	1.0	Director	$0	$0	$0
John Rucker	Board Member	1.0	Director	$0	$0	$0
Keith Nisbet	Board Member	1.0	Director	$0	$0	$0
Margaret Penn	Secretary & Treasurer	1.0	Director	$0	$0	$0
Nate Barber	Vice Chair	1.0	Director	$0	$0	$0
Scott Selig	Board Member	1.0	Director	$0	$0	$0
Stephen O'Connor	Board Member	1.0	Director	$0	$0	$0
William Turner	Board Member	1.0	Director	$0	$0	$0
Dana Boole	President and CEO	40.0	Officer	$705,268	$49,599	$754,867
Erin Griffin	Chief Financial Officer	40.0	Officer	$343,478	$57,999	$401,477
Robert Landis	Sr. Vice President	40.0	Officer	$238,694	$25,305	$263,999
Sonya Prear	Vice President	40.0	Officer	$297,396	$52,479	$349,875
William Mayo	Vice President	40.0	Officer	$314,139	$59,714	$373,853
Amy Mallory	Manager, Fund Management	40.0	Highest	$242,297	$42,482	$284,779
Brian Oxford	Manager, Community Capital	40.0	Highest	$242,911	$51,874	$294,785
George Baker	VP, CAHEC Properties Corp.	40.0	Highest	$270,108	$40,763	$310,871
Joseph Erdelyi	Manager, Risk Management	40.0	Highest	$189,363	$27,742	$217,105
Marcus Gipner	Manager, Fund Development	40.0	Highest	$264,175	$41,261	$305,436

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	$17,757,204	$17,030,014	$28,274,760	$727,190
2023	$10,248,278	$14,733,274	$29,897,037	$-4,484,996
2022	$13,277,781	$13,847,624	$32,501,366	$-569,843
2021	$11,307,712	$11,557,173	$30,228,876	$-249,461
2020	$11,268,243	$11,188,617	$30,170,331	$79,626
2019	$12,166,185	$11,926,255	$29,784,870	$239,930
2018	$10,825,979	$10,777,305	$28,706,444	$48,674

Community Affordable Housing Equity Corporation