VOLUNTEER HOUSING DEVELOPMENT CORPORATION INC

EIN: 581400610 501(c)(3)

MORRISTOWN, TN

Total Revenue
$1,906,695
Total Expenses
$1,340,279
Total Assets
$5,332,115
Net Assets
$2,078,180
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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
1970
Legal Domicile
TN
Principal Officer
KAY HALE
Phone
4235861494
Tax Period
2024-04-01 to 2025-03-31

VOLUNTEER HOUSING DEVELOPMENT CORPORATION INC, founded in 1970, is a community nonprofit that reported $1.9M in total revenue in fiscal year 2024. Revenue surged 151% from the prior year, signaling strong growth momentum. The organization ran a surplus of $566K, a strong 30% operating margin.

Mission

HUD ASSISTED HOUSING FOR LOW INCOME, ELDERLY AND HANDICAPPED.

Program Service Accomplishments

Program 1
Expenses: $1,136,589 Revenue: $1,142,185

OPERATION OF HUD AND RURAL DEVELOPMENT ASSISTED HOUSING FOR LOW INCOME, ELDERLY AND HANDICAPPED TENANTS. THE TOTAL NUMBER OF UNITS IS 144.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $226,428
Program Service Revenue $1,142,185
Investment Income $538,082
Other Revenue $0
TOTAL REVENUE $1,906,695

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $1,136,589
Other Expenses $1,340,279
TOTAL EXPENSES $1,340,279

Year-over-Year Comparison

2024 2023 Change
Revenue $1,906,695 $760,093 +1.5%
Expenses $1,340,279 $913,142 +0.5%
Net Income $566,416 $-153,049 -4.7%
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

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Governance

Voting Members
10
Independent Members
10
Employees
N/A
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
2
$0
Total Directors
10
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KAY HALE PRESIDENT 0.10
Officer Director
$0 $0 $0
JOE BENTHAL DIRECTOR 0.10
Director
$0 $0 $0
LANE WOLFENBARGER DIRECTOR 0.10
Director
$0 $0 $0
JACK YATES VICE-PRESIDENT 0.10
Officer Director
$0 $0 $0
BILL MITRIK SECRETARY 0.10
Director
$0 $0 $0
MICHAEL COLLINS DIRECTOR 0.10
Director
$0 $0 $0
MEGAN BARNARD DIRECTOR 0.10
Director
$0 $0 $0
WILL SLIGER DIRECTOR 0.10
Director
$0 $0 $0
RENE TABOR DIRECTOR 0.10
Director
$0 $0 $0
MISTY CAMERON DIRECTOR 0.10
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 $1,906,695 $1,340,279 $5,332,115 $566,416
2024 $760,093 $913,142 $6,528,195 $-153,049
2023 $1,663,429 $1,049,850 $5,912,020 $613,579
2022 $977,553 $1,057,575 $5,536,869 $-80,022
2021 $960,599 $1,140,649 $5,639,423 $-180,050
2020 $897,346 $1,199,786 $5,811,766 $-302,440
2019 $989,817 $1,120,873 $5,932,838 $-131,056
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