WAKE COUNTY HOUSING FINANCE CORPORATION (EIN 581485396) - 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

1983

Legal Domicile

Principal Officer

STEVE SMALTO

Phone

9192696404

Tax Period

2023-07-01 to 2024-06-30

WAKE COUNTY HOUSING FINANCE CORPORATION, founded in 1983, is a micro nonprofit that reported $45K in total revenue in fiscal year 2023. Revenue decreased 19% compared to the prior year. Expenses of $69K exceeded revenue, resulting in a 54% operating deficit.

Mission

THE ORGANIZATION'S MISSION IS TO PROVIDE RENTAL APARTMENTS, HOMES AND HOME REHABILITATION TO LOW INCOME RESIDENTS OF WAKE COUNTY, NC.

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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 $680

Program Service Revenue $42,742

Investment Income $1,572

Other Revenue $39

TOTAL REVENUE $45,033

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $58,603

Other Expenses $69,387

TOTAL EXPENSES $69,387

Year-over-Year Comparison

	2023	2022	Change
Revenue	$45,033	$55,850	-0.2%
Expenses	$69,387	$52,076	+0.3%
Net Income	$-24,354	$3,774	-7.5%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
STEVE SMALTO	CHAIRPERSON	10.00	Director	$0	$0	$0
KENYA PLEASANT	SECRETARY	5.00	Director	$0	$0	$0
SWETHA KUMAR	TREASURER	5.00	Director	$0	$0	$0
JOHN AUSTIN	BOARD MEMBER	2.00	Director	$0	$0	$0
DEVONE YOUNG	BOARD MEMBER	2.00	Director	$0	$0	$0
ANNA SHORT-SLIGHTOM	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	No data	No data	No data	No data
2024	$45,033	$69,387	$577,051	$-24,354
2023	$55,850	$52,076	$602,130	$3,774
2022	$156,255	$59,279	$598,356	$96,976
2021	$40,357	$50,472	$504,880	$-10,115

WAKE COUNTY HOUSING FINANCE CORPORATION