Kingsport Residential Development Corporation (EIN 581988707) - 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

1996

Legal Domicile

Principal Officer

Kristie Hammonds

Phone

4234673600

Tax Period

2023-07-01 to 2024-06-30

Kingsport Residential Development Corporation, founded in 1996, is a micro nonprofit in the Human Services sector that reported $66K in total revenue in fiscal year 2023. Revenue fell 70% from the prior year — a significant decline worth monitoring. Expenses of $142K exceeded revenue, resulting in a 116% operating deficit.

Mission

Housing for Mentally Ill Adults

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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 $0

Program Service Revenue $65,442

Investment Income $3

Other Revenue $545

TOTAL REVENUE $65,990

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $133,308

Other Expenses $142,271

TOTAL EXPENSES $142,271

Year-over-Year Comparison

	2023	2022	Change
Revenue	$65,990	$222,943	-0.7%
Expenses	$142,271	$132,907	+0.1%
Net Income	$-76,281	$90,036	-1.8%

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

N/A

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
Sherri Feathers	Board Member	N/A	Director	$0	$0	$0
Tim Perry	Board Member	N/A	Director	$0	$0	$0
Heather Crouse	Board Member	N/A	Director	$0	$0	$0
N/A	Board Member	N/A	Director	$0	$0	$0
Kristie Hammonds	President	N/A	Officer	$0	$0	$0
Virginia Naseri	Vice President	N/A	Officer	$0	$0	$0
Diane Bowen	Secretary	N/A	Officer	$0	$0	$0
Bobby Allen Harris	Treasurer	N/A	Officer	$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	$65,990	$142,271	$585,102	$-76,281
2023	$222,943	$132,907	$655,462	$90,036
2022	$334,557	$100,667	$554,893	$233,890

Kingsport Residential Development Corporation