ATLANTIC HOUSING FOUNDATION INC (EIN 571090154) - 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

1999

Legal Domicile

Principal Officer

Michael Nguyen

Phone

4692068900

Tax Period

2023-01-01 to 2023-12-31

ATLANTIC HOUSING FOUNDATION INC, founded in 1999, is a major nonprofit in the Housing & Shelter sector that reported $101.0M in total revenue in fiscal year 2023. Expenses of $112.4M exceeded revenue, resulting in a 11% operating deficit.

Mission

To foster, support, provide, acquire, construct, rehabilitate and operate qualified affordable housing for low-income persons and families, elderly, and mentally or physically disabled persons where no adequate housing exists for such persons. Provide aid to the poor and distressed, provide decent, safe and sanitary housing, provide social services to low income persons and families, assist in the social and economic integration of the poor, combat community deterioration, lessen neighborhood tensions, eliminate prejudice and discrimination, and reduce the burden of government through the provision of affordable housing.In order to further assist the communities the Foundation serves or will serve, the board amended the Articles of Incorporation to include the charitable purpose of providing student housing as part of its charitable purposes, and filed the amended articles with the IRS and the South Carolina Secretary of State as of April 24, 2004. The board of directors concluded that

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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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $96,058,040

Investment Income $4,942,541

Other Revenue $0

TOTAL REVENUE $101,000,581

Expense Breakdown

Grants Paid $1,093,116

Salaries & Benefits $5,964,978

Fundraising Expenses $0

Program Expenses $109,909,687

Other Expenses $105,344,701

TOTAL EXPENSES $112,402,795

Year-over-Year Comparison

	2023	2022	Change
Revenue	$101,000,581	$98,028,406	+0.0%
Expenses	$112,402,795	$106,224,237	+0.1%
Net Income	$-11,402,214	$-8,195,831	+0.4%

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

425

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

$1,204,237

Total Directors

$990,284

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Michael Nguyen	President & CEO	40.00	Officer Director	$902,167	$8,117	$910,284
Kent Foster	Assoc Dir of Dev	40.00		$343,403	$2,883	$346,286
Wilfredo Saqueton	CFO, Scty,Treas	40.00	Officer	$285,370	$8,583	$293,953
Shelia Maness	Dir-Human Resource	40.00		$183,665	$6,537	$190,202
Evan Nance	Propty Controller	40.00		$147,593	$6,537	$154,130
Megan Cue	Assoc Dir Prop Mgt	40.00		$123,449	$5,217	$128,666
Mary Jackson	Dir Property Mgmt	40.00		$115,619	$4,239	$119,858
Daniel B French	Trustee	10.00	Director	$10,000	$0	$10,000
Ruben Gomez	Trustee LI Rep	2.00	Director	$10,000	$0	$10,000
Stepanie Laxton	Trustee LI Rep	2.00	Director	$10,000	$0	$10,000
RICHARD WHALEY	Trustee	2.00	Director	$10,000	$0	$10,000
Michael Duffy	Chairman	2.00	Director	$10,000	$0	$10,000
Alan Naul	Trustee	2.00	Director	$10,000	$0	$10,000
Rachel Hayden	Trustee	2.00	Director	$10,000	$0	$10,000
Amanda Popken	Trustee LI Rep	2.00	Director	$10,000	$0	$10,000

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
2024	No data	No data	No data	No data
2023	No data	No data	No data	No data
2023	$101,000,581	$112,402,795	$528,140,962	$-11,402,214
2022	$98,028,406	$106,224,237	$540,951,595	$-8,195,831
2021	$103,755,815	$103,009,523	$500,012,699	$746,292
2020	$148,610,400	$93,995,028	$523,695,373	$54,615,372
2020	$148,610,400	$93,995,028	$523,695,373	$54,615,372
2020	$148,610,400	$93,995,028	$523,695,373	$54,615,372
2019	$101,104,174	$96,771,729	$554,431,677	$4,332,445
2019	$101,104,174	$96,771,729	$554,431,677	$4,332,445
2018	$65,025,066	$68,244,258	$464,184,556	$-3,219,192

ATLANTIC HOUSING FOUNDATION INC