WESTERN NC HOUSING PARTNERSHIP INC

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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

1993

Legal Domicile

Principal Officer

JOY STRASSEL

Phone

8282872281

Tax Period

2024-07-01 to 2025-06-30

WESTERN NC HOUSING PARTNERSHIP INC, founded in 1993, is a community nonprofit in the Housing & Shelter sector that reported $1.1M in total revenue in fiscal year 2024. Revenue surged 37% from the prior year, signaling strong growth momentum. The organization ran a surplus of $558K, a strong 50% operating margin.

Mission

THE PARTNERSHIP PROVIDES ASSISTANCE IN THE DEVELOPMENT OF HOUSING, PRIMARILY FOR OLDER AND HANDICAPPED ADULTS.

Program Service Accomplishments

Program 1

Expenses: $503,781 Revenue: $468,774

THE PARTNERSHIP PROVIDES ASSISTANCE IN THE DEVELOPMENT OF HOUSING, PRIMARILY FOR OLDER AND HANDICAPPED 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 (2024)

Revenue Breakdown

Contributions & Grants $612,211

Program Service Revenue $426,425

Investment Income $36,138

Other Revenue $44,673

TOTAL REVENUE $1,119,447

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $503,781

Other Expenses $561,588

TOTAL EXPENSES $561,588

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,119,447	$815,783	+0.4%
Expenses	$561,588	$385,598	+0.5%
Net Income	$557,859	$430,185	+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

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MS SHERRY GRIFFIN	CHAIRMAN	1.00	Officer Director	$0	$0	$0
MR JAMES EDWARDS	VICE-CHAIR	1.00	Officer Director	$0	$0	$0
MS OLIVIA COLLIER	EX-OFFICIO	1.00	Officer Director	$0	$0	$0
MR DAN KORNELIS	DIRECTOR	1.00	Director	$0	$0	$0
MS KAREN KIEHNA	DIRECTOR	1.00	Director	$0	$0	$0
MS ERICA ANDERSON	SECRETARY/TREASURER	1.00	Officer Director	$0	$0	$0
MS LEEANNE TUCKER	DIRECTOR	1.00	Director	$0	$0	$0
MR JOE WARD	DIRECTOR	1.00	Director	$0	$0	$0
MR BEN WILLIS	DIRECTOR	1.00	Director	$0	$0	$0
MS LENAY SHULAR	DIRECTOR	1.00	Director	$0	$0	$0
MS JOY STRASSEL	EXECUTIVE DIRECTOR	20.00	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	$1,119,447	$561,588	$4,699,140	$557,859
2024	$815,783	$385,598	$3,815,759	$430,185
2023	$842,326	$373,108	$2,958,824	$469,218
2022	$510,872	$368,012	$2,447,111	$142,860
2021	$298,466	$258,098	$2,552,714	$40,368
2020	$306,250	$351,047	$2,769,708	$-44,797
2019	$85,431	$282,949	$2,800,597	$-197,518
2018	$363,742	$298,678	$3,001,787	$65,064