CHEROKEE 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

1991

Legal Domicile

Principal Officer

LARRY PAUL MADDOX

Phone

2059331020

Tax Period

2024-10-01 to 2025-09-30

CHEROKEE HOUSING CORPORATION, founded in 1991, is a small nonprofit that reported $516K in total revenue in fiscal year 2024. Revenue grew 9% year-over-year, indicating healthy expansion.

Mission

PROVIDE LOW COST HOUSING FOR THE ELDERLY AND DISABLED

Program Service Accomplishments

Program 1

Expenses: $506,796 Revenue: $171,872

CHEROKEE HOUSING CORPORATION D/B/A CHEROKEE MANOR (PROJECT) IS A 50-UNIT APARTMENT COMPLEX FOR THE ELDERLY LOCATED IN CENTRE, ALABAMA. THE PROJECT WAS ORIGINALLY FINANCED AND CONSTRUCTED UNDER...

CHEROKEE HOUSING CORPORATION D/B/A CHEROKEE MANOR (PROJECT) IS A 50-UNIT APARTMENT COMPLEX FOR THE ELDERLY LOCATED IN CENTRE, ALABAMA. THE PROJECT WAS ORIGINALLY FINANCED AND CONSTRUCTED UNDER SECTION 202 OF THE NATIONAL HOUSING ACT, AND WAS RESTRUCTURED UNDER THE 223(F) PROGRAM. THE PROJECT IS REGULATED BY THE UNITED STATES DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD) WITH RESPECT TO RENTAL CHARGES AND OPERATING METHODS. THE PROJECT ALSO SUBJECT TO SECTION 8 HOUSING ASSISTANCE PAYMENTS (HAP) AGREEMENT WITH HUD, AND A SIGNIFICANT PORTION OF THE PROJECT'S RENTAL INCOME IS RECEIVED FROM HUD. RENT SUBSIDY PAYMENTS ARE SUBJECT TO AVAILABLITY OF SUFFICIENT APPROPRIATIONS, AS DETERMINED BY HUD.

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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 $343,184

Program Service Revenue $165,531

Investment Income $500

Other Revenue $6,341

TOTAL REVENUE $515,556

Expense Breakdown

Grants Paid $0

Salaries & Benefits $111,967

Fundraising Expenses $0

Program Expenses $506,796

Other Expenses $438,564

TOTAL EXPENSES $550,531

Year-over-Year Comparison

	2024	2023	Change
Revenue	$515,556	$472,221	+0.1%
Expenses	$550,531	$512,355	+0.1%
Net Income	$-34,975	$-40,134	-0.1%

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	Hours/Week	Role	Reportable Comp	Other Comp	Total
LARRY PAUL MADDOX	PRESIDENT	2.00	Officer Director	$0	$0	$0
TRACY BISHOP	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
LOWELL HAMILTON	BOARD MEMBER	2.00	Director	$0	$0	$0
MELVYN SALTER	BOARD MEMBER	2.00	Director	$0	$0	$0
IRIS TILLERY	BOARD MEMBER	2.00	Director	$0	$0	$0
CHAD HOPPER	BOARD MEMBER	2.00	Director	$0	$0	$0
PAULA PRUITT	BOARD MEMBER	2.00	Director	$0	$0	$0
LANNY STARR	BOARD MEMBER	2.00	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
2025	$515,556	$550,531	$854,895	$-34,975
2024	$472,221	$512,355	$919,550	$-40,134
2023	$477,077	$503,781	$994,314	$-26,704
2022	$439,533	$492,257	$1,049,364	$-52,724
2021	$449,000	$457,666	$1,144,724	$-8,666
2020	$416,947	$537,417	$1,175,301	$-120,470
2019	$684,133	$636,310	$1,413,976	$47,823
2018	$404,398	$468,832	$1,335,433	$-64,434