HORIZON DEVELOPMENT PROPERTIES INC

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

2001

Legal Domicile

Principal Officer

HEATHER R FRANKLIN CPA

Phone

7043365233

Tax Period

2023-01-01 to 2023-12-31

HORIZON DEVELOPMENT PROPERTIES INC, founded in 2001, is a mid-sized nonprofit in the Housing & Shelter sector that reported $77.5M in total revenue in fiscal year 2023. Revenue surged 57% from the prior year, signaling strong growth momentum. Expenses of $71.9M left a modest 7% surplus.

Mission

TO PROVIDE AFFORDABLE HOUSING TO ALL QUALIFIED FAMILIES.

Program Service Accomplishments

Program 1

Expenses: $49,209,219 Revenue: $19,982,395

HORIZON DEVELOPMENT HAS A TOTAL OF 4,747 UNITS AVAILABLE TO RENT TO FAMILIES MAKING LESS THAN 80% OF AREA MEDIAN INCOME.

Program 2

Expenses: $19,136,918 Revenue: $28,755,155

INCREASE AFFORDABLE HOUSING OPPORTUNITIES FOR QUALIFIED FAMILIES: WE ARE CONTINUOUSLY LOOKING FOR ADDITIONAL OPPORTUNITIES TO EXPAND OUR CAPACITY AND PROVIDE ADDITIONAL AFFORDABLE HOUSING OPTIONS FOR FAMILIES IN NEED. WE HAVE ENTERED INTO SEVERAL PUBLIC PRIVATE PARTNERSHIPS THAT HORIZON DEVELOPMENT IS THE MAJORITY MEMBER IN. THESE PROJECTS ARE IN THE BEGINNING STAGES.

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $26,848,963

Program Service Revenue $46,790,977

Investment Income $1,955,347

Other Revenue $1,946,573

TOTAL REVENUE $77,541,860

Expense Breakdown

Grants Paid $0

Salaries & Benefits $6,550,591

Fundraising Expenses $0

Program Expenses $68,346,137

Other Expenses $65,357,145

TOTAL EXPENSES $71,907,736

Year-over-Year Comparison

	2023	2022	Change
Revenue	$77,541,860	$49,320,137	+0.6%
Expenses	$71,907,736	$57,949,705	+0.2%
Net Income	$5,634,124	$-8,629,568	-1.7%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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

$2,370,785

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RAY MCKINNON	CHAIR COMMISSIONER	1.00	Director	$0	$0	$0
MICHAEL KENNERLY	VICE CHAIR COMMISSIONER	1.00	Director	$0	$0	$0
LINDA ASHENDORF	COMMISSIONER	1.00	Director	$0	$0	$0
ANTOINE DENNARD	COMMISSIONER	1.00	Director	$0	$0	$0
ERIN SMITH	COMMISSIONER	1.00	Director	$0	$0	$0
FATINA ALLEN	COMMISSIONER	1.00	Director	$0	$0	$0
MAURICE ROBINSON	COMMISSIONER	1.00	Director	$0	$0	$0
FULTON MEACHEM	CEO	1.00	Officer	$0	$46,632	$432,963
HEATHER FRANKLIN	EVP, FINANCE	1.00	Officer	$0	$37,653	$226,519
HARRIETT HUELL	EVP, LEGAL	1.00	Officer	$0	$31,549	$211,238
KEN WOOD	EVP, INFORMATION TECH - PART YEAR	1.00	Officer	$0	$17,845	$142,882
TOMICO EVANS	EVP, CORE	1.00	Officer	$0	$20,778	$160,440
KENYA LEWIS	EVP, PEOPLE AND CULTURE	1.00	Officer	$0	$21,326	$146,495
TEMEKA COUCH	EVP, HOUSING CHOICE VOUCHERS	1.00	Officer	$0	$16,689	$153,376
ERIC SCOTT	COO	1.00	Officer	$0	$22,721	$176,471
ALLAN RIVERA	EVP, INFORMATION TECHNOLOGY	1.00	Officer	$0	$19,954	$151,877
ALLEN GONG	EVP, REAL ESTATE DEVELOPMENT	1.00	Officer	$0	$17,342	$165,769
CHERON PORTER	EVP, CORPORATE COMMUNICATIONS	1.00	Officer	$0	$22,176	$183,150
KIMBERLIE SMITH	EVP, BLUE HORIZON	1.00	Officer	$0	$36,548	$219,605
NINA PINEDA	SVP, REAL ESTATE MANAGEMENT	40.00	Highest	$0	$19,950	$153,435
KEVIN BOYETT	SVP, REAL ESTATE DEVELOPMENT	40.00	Highest	$0	$17,307	$138,402
JOHN SHURLEY	SVP, CONSTRUCTION	40.00	Highest	$0	$18,801	$134,963

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	$77,541,860	$71,907,736	$565,595,319	$5,634,124
2022	$49,320,137	$57,949,705	$528,761,139	$-8,629,568
2021	$43,904,469	$49,840,565	$420,836,852	$-5,936,096
2020	$38,501,606	$47,937,045	$294,872,530	$-9,435,439
2019	$38,838,190	$44,560,195	$251,346,379	$-5,722,005
2018	$-3,055,197	$41,178,375	$251,714,409	$-44,233,572