THE HOUSING ASSISTANCE 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

1988

Legal Domicile

Principal Officer

MARGARET FENTON LEBECK

Phone

8286924744

Tax Period

2023-01-01 to 2023-12-31

THE HOUSING ASSISTANCE CORPORATION, founded in 1988, is a community nonprofit in the Housing & Shelter sector that reported $2.9M in total revenue in fiscal year 2023. Expenses of $2.8M left a modest 5% surplus.

Mission

THE HOUSING ASSISTANCE CORPORATION IS A PUBLIC, NON-PROFIT ORGANIZATION COMMITTED TO PROVIDING SAFE AND AFFORDABLE HOUSING FOR PERSONS OF LIMITED INCOME LIVING IN HENDERSON COUNTY AND SURROUNDING AREAS, BECAUSE WE BELIEVE EVERY HUMAN BEING DESERVES THE OPPORTUNITY TO LIVE IN A DECENT HOME.

Program Service Accomplishments

Program 1

Expenses: $794,114 Revenue: $1,075,809

MULTI-FAMILY DEVELOPMENT:HAC HAS CREATED 360 UNITS OF AFFORDABLE RENTAL HOUSING IN HENDERSON COUNTY OVER THE LAST 35 YEARS. THE UNITS ARE ALL AFFORDABLE, SOME ARE TRANSITIONAL HOUSING, AND ALL SERVE VARIOUS POPULATIONS INCLUDING SENIORS, FAMILIES, VETERANS, AGRICULTURAL WORKERS, SURVIVORS OF INTERPERSONAL VIOLENCE, AND INDIVIDUALS WITH PHYSICAL, MENTAL OR DEVELOPMENT DISABILITIES.

Program 2

Expenses: $632,714

SINGLE-FAMILY DEVELOPMENT:IN 2023, HAC COMPLETED 9 SINGLE FAMILY HOMES IN HENDERSON COUNTY AND BEGAN CONSTRUCTION ON 6 OTHERS WHICH WILL BE COMPLETED IN 2024. OVER ITS HISTORY HAC HAS BUILT 207...

SINGLE-FAMILY DEVELOPMENT:IN 2023, HAC COMPLETED 9 SINGLE FAMILY HOMES IN HENDERSON COUNTY AND BEGAN CONSTRUCTION ON 6 OTHERS WHICH WILL BE COMPLETED IN 2024. OVER ITS HISTORY HAC HAS BUILT 207 SINGLE FAMILY HOMES IN HENDERSON COUNTY AND POLK COUNTY AND IS WORKING TO EXPAND TO TRANSYLVANIA COUNTY WHEN LAND BECOMES AVAILABLE. OUR HOUSING COUNSELORS WORKED WITH 614 HOUSEHOLDS IN THE RECRUITMENT PROCESS AT YEAR END.

Program 3

Expenses: $1,050,448

HOME REPAIR AND REHABILITATION:HAC COMPLETED 548 REPAIRS FOR 83 HOUSEHOLDS OR 184 PEOPLE IN 2023.

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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 $1,652,598

Program Service Revenue $1,002,764

Investment Income $200,607

Other Revenue $79,535

TOTAL REVENUE $2,935,504

Expense Breakdown

Grants Paid $0

Salaries & Benefits $983,966

Fundraising Expenses $81,921

Program Expenses $2,477,276

Other Expenses $1,805,171

TOTAL EXPENSES $2,789,137

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,935,504	$2,770,321	+0.1%
Expenses	$2,789,137	$2,170,459	+0.3%
Net Income	$146,367	$599,862	-0.8%

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

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

$199,349

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
STEVE WILKIE	PRESIDENT	2.00	Officer Director	$0	$0	$0
TYLER HENRY	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
JENNIFER DUVALL	TREASURER	2.00	Officer Director	$0	$0	$0
BLANCA SANCHEZ	SECRETARY	2.00	Officer Director	$0	$0	$0
HILTON SWING	MEMBER-AT-LARGE	1.00	Director	$0	$0	$0
NOELLE MCKAY	MEMBER-AT-LARGE	1.00	Director	$0	$0	$0
ITZIA MORENO	DIRECTOR	1.00	Director	$0	$0	$0
KEITH NORTON	DIRECTOR	1.00	Director	$0	$0	$0
SONYA FLYNN	DIRECTOR	1.00	Director	$0	$0	$0
NORY LEBRUN	DIRECTOR	1.00	Director	$0	$0	$0
DOUG HARRIS	DIRECTOR	1.00	Director	$0	$0	$0
JANE MAYER	DIRECTOR	1.00	Director	$0	$0	$0
MALLORY BENJAMIN	DIRECTOR	1.00	Director	$0	$0	$0
JENNIFER MAYNOR	DIRECTOR	1.00	Director	$0	$0	$0
KRISTIN DUNN 310-1027	EXECUTIVE DIRECTOR	40.00	Officer	$63,476	$1,343	$64,819
SEAN ROSE 11-39	INTERIM EXECUTIVE DIRECTOR	40.00	Officer	$76,863	$14,113	$90,976
SUSAN FRADY 1028-1231	INTERIM EXECUTIVE DIRECTOR	40.00	Officer	$43,554	$0	$43,554

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
2023	$2,935,504	$2,789,137	$8,617,800	$146,367
2022	$2,770,321	$2,170,459	$7,712,463	$599,862
2021	$2,074,001	$1,915,890	$7,059,698	$158,111
2020	$1,950,294	$1,727,585	$6,235,032	$222,709
2019	$946,759	$1,470,323	$5,268,405	$-523,564
2018	$1,338,160	$1,316,025	$7,028,593	$22,135