Varnville Area Housing Corporation (EIN 570661836) - Form 990 Financial Analysis & Trantor Score

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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

1980

Legal Domicile

Phone

8039432959

Tax Period

2022-01-01 to 2022-12-31

Varnville Area Housing Corporation, founded in 1980, is a small nonprofit that reported $532K in total revenue in fiscal year 2022. Revenue fell 22% from the prior year — a significant decline worth monitoring. Expenses of $737K exceeded revenue, resulting in a 39% operating deficit.

Mission

Formed to construct and operate an apartment complex of 48 units under Section 89 of 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 (2022)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $531,731

Investment Income $58

Other Revenue $0

TOTAL REVENUE $531,789

Expense Breakdown

Grants Paid $0

Salaries & Benefits $302,746

Fundraising Expenses $0

Program Expenses $418,302

Other Expenses $434,145

TOTAL EXPENSES $736,891

Year-over-Year Comparison

	2022	2021	Change
Revenue	$531,789	$681,776	-0.2%
Expenses	$736,891	$667,092	+0.1%
Net Income	$-205,102	$14,684	-15.0%

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

$119,167

Total Directors

$119,167

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Eugene Jenkins	Director	40.00	Officer Director	$119,167	$0	$119,167
Peggy Grill	Director	1.00	Director	$0	$0	$0
Henry Fields	Director	1.00	Director	$0	$0	$0
Daisy Lawton	Director	1.00	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	No data	No data	No data	No data
2023	No data	No data	No data	No data
2022	$531,789	$736,891	$1,464,222	$-205,102
2021	$681,776	$667,092	$1,669,286	$14,684
2020	$625,623	$642,382	$1,654,594	$-16,759
2019	$583,090	$664,830	$1,671,045	$-81,740
2018	$645,026	$719,123	$1,769,260	$-74,097

Varnville Area Housing Corporation