KORNER HOMES INC (EIN 581394455) - 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

Principal Officer

AHAZ ARMSTRONG

Phone

3367653906

Tax Period

2023-07-01 to 2024-06-30

KORNER HOMES INC, founded in 1980, is a small nonprofit in the Housing & Shelter sector that reported $785K in total revenue in fiscal year 2023. The organization ran a surplus of $126K, a strong 16% operating margin.

Mission

OWN AND OPERATE AN 80 UNIT APARTMENT COMPLEX FOR THE ELDERLY UNDER SECTION 207/223(F) OF THE 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 (2023)

Revenue Breakdown

Contributions & Grants $520,192

Program Service Revenue $265,627

Investment Income $-325

Other Revenue $0

TOTAL REVENUE $785,494

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $644,540

Other Expenses $659,267

TOTAL EXPENSES $659,267

Year-over-Year Comparison

	2023	2022	Change
Revenue	$785,494	$775,589	+0.0%
Expenses	$659,267	$685,755	0.0%
Net Income	$126,227	$89,834	+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

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

$120,248

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CRAIG PEATROSS	PRESIDENT	0.00	Officer Director	$0	$0	$0
MALLORY OLDHAM	SECRETARY	0.00	Officer Director	$0	$0	$0
GARRY MERRITT	DIRECTOR	0.00	Director	$0	$0	$0
DIANE EVANS	DIRECTOR	0.00	Director	$0	$0	$0
TAMMY VERNON	TREASURER	0.20	Officer	$0	$0	$120,248

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	No data	No data	No data	No data
2024	$785,494	$659,267	$1,489,780	$126,227
2023	$775,589	$685,755	$1,440,247	$89,834
2022	$757,095	$716,499	$1,445,536	$40,596
2021	$750,120	$728,817	$1,490,003	$21,303
2020	$710,360	$660,529	$1,557,835	$49,831
2019	$695,849	$678,322	$1,556,417	$17,527

KORNER HOMES INC