AFFORDABLE HOUSING RESOURCES INC (EIN 581857324) - 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

1988

Legal Domicile

Principal Officer

EDDIE LATIMER

Phone

6152510025

Tax Period

2024-01-01 to 2024-12-31

AFFORDABLE HOUSING RESOURCES INC, founded in 1988, is a community nonprofit in the Housing & Shelter sector that reported $7.6M in total revenue in fiscal year 2024. Revenue surged 46% from the prior year, signaling strong growth momentum. The organization ran a surplus of $2.0M, a strong 26% operating margin.

Mission

AFFORDABLE HOUSING RESOURCES, INC. (AHR) IS A NON-PROFIT ORGANIZATION WHOSE MISSION IS TO CREATE AFFORDABLE HOUSING AND STRONG NEIGHBORHOODS. FOR OVER 20 YEARS, AHR HAS BEEN LAYING A FOUNDATION FOR SUCCESSFUL HOME OWNERSHIP FOR MIDDLE TENNESSEE'S WORKFORCE. AHR IS COMMITTED TO PROVIDING HOME OWNERSHIP OPPORTUNITIES FOR LOW TO MODERATE INCOME FAMILIES, WHICH ENABLES THESE FAMILIES TO BECOME SUCCESSFUL HOMEOWNERS OVER THE LONG TERM.AHR HAS DEVELOPED AND SOLD OVER 1,500 SINGLE FAMILY HOMES AND ASSISTED OVER 15,000 PEOPLE IN BUYING THEIR FIRST HOME THROUGH ITS 3 MAIN PROGRAMS: 1. HOME BUYER EDUCATION AND FINANCIAL LITERACY PROGRAMS 2. SINGLE FAMILY HOUSING DEVELOPMENT 3. MORTGAGE LENDING PROGRAMS

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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 (2024)

Revenue Breakdown

Contributions & Grants $5,506,736

Program Service Revenue $952,771

Investment Income $1,149,705

Other Revenue $0

TOTAL REVENUE $7,609,212

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,033,038

Fundraising Expenses $0

Program Expenses $5,422,609

Other Expenses $4,622,653

TOTAL EXPENSES $5,655,691

Year-over-Year Comparison

	2024	2023	Change
Revenue	$7,609,212	$5,229,157	+0.5%
Expenses	$5,655,691	$2,518,879	+1.2%
Net Income	$1,953,521	$2,710,278	-0.3%

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

$232,475

Total Directors

$232,475

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
EDDIE LATIMER	CEO	40.00	Officer Director	$224,917	$7,558	$232,475
DAN EATON	DIRECTOR OF HOUSING DEVELOPMENT	40.00	Highest	$119,663	$4,062	$123,725
DAVID CRANE	DIRECTOR	1.00	Director	$0	$0	$0
JAQUELINE PAUL SIMS	DIRECTOR	1.00	Director	$0	$0	$0
ALETA YOUNG	DIRECTOR	1.00	Director	$0	$0	$0
PAUL HOFFMAN	DIRECTOR	1.00	Director	$0	$0	$0
JOHN A BEAM III	SECRETARY & CHAIR GOVERNANCE	2.00	Officer Director	$0	$0	$0
W PERRY BLANDFORD	BOARD CHAIR	2.00	Officer Director	$0	$0	$0
DEWAYNE OLIVE	TREASURER & FINANCE CHAIR	1.00	Officer Director	$0	$0	$0
JIM RIENIETS	DIRECTOR	1.00	Director	$0	$0	$0
PAIGE O'DELL	DIRECTOR	1.00	Director	$0	$0	$0
R DALE MITCHELL	DIRECTOR	1.00	Director	$0	$0	$0
ROSEMARY NABAWEESI	DIRECTOR	1.00	Director	$0	$0	$0
JAMAL CAMBELL-GOOCH	DIRECTOR	1.00	Director	$0	$0	$0
MARK G CALVERT	DIRECTOR	1.00	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
2024	$7,609,212	$5,655,691	$29,939,155	$1,953,521
2023	$5,229,157	$2,518,879	$27,266,246	$2,710,278
2022	$4,202,801	$1,617,401	$25,997,448	$2,585,400
2021	$4,651,138	$2,052,790	$24,037,814	$2,598,348
2020	$3,810,561	$1,958,699	$20,979,124	$1,851,862
2019	$2,444,699	$1,219,793	$18,848,203	$1,224,906
2018	$1,309,873	$1,101,506	$16,582,033	$208,367

AFFORDABLE HOUSING RESOURCES INC