ABILITY HOUSING 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

1991

Legal Domicile

Principal Officer

SHANNON NAZWORTH

Phone

9043599650

Tax Period

2024-01-01 to 2024-12-31

ABILITY HOUSING INC, founded in 1991, is a mid-sized nonprofit in the Health Care sector that reported $14.9M in total revenue in fiscal year 2024. Revenue surged 76% from the prior year, signaling strong growth momentum. The organization ran a surplus of $4.4M, a strong 29% operating margin.

Mission

THE MISSION OF ABILITY HOUSING IS TO BUILD FLOURISHING COMMUNITIES WHERE EVERYONE HAS A HOME. ITS VISION IS A SOCIETY WHERE HOUSING IS A RIGHT, NOT A PRIVILEGE; AND ALL INDIVIDUALS HAVE SAFE, AFFORDABLE HOUSING IN VIBRANT COMMUNITIES. IT WORKS TO ACHIEVE THIS VISION BY DEVELOPING AND OPERATING QUALITY AFFORDABLE RENTAL AND SUPPORTIVE HOUSING AND OFFERING INDIVIDUALIZED SUPPORT SERVICES TO ALL RESIDENTS.

Program Service Accomplishments

Program 1

Expenses: $277,716 Revenue: $167,264

CASA IS A UNIQUE AND AWARD-WINNING SCATTERED SITE RENTAL PROGRAM THAT CONSISTS OF 16 SINGLE-FAMILY AND ATTACHED HOMES DISPERSED THROUGHOUT DUVAL COUNTY. CASA PROVIDES AFFORDABLE HOUSING TO EXTREMELY LOW-INCOME PERSONS WITH A DISABILITY, MANY OF WHOM HAD EXPERIENCED HOMELESSNESS. CASA IMPLEMENTS A SHARED-HOUSING MODEL SO RESIDENTS CAN LIVE INDEPENDENTLY IN THE COMMUNITY WITH A ROOMMATE. THE AVERAGE RESIDENT INCOME IS APPROXIMATELY $17,077. OUTCOME: 16 HOMES PROVIDED TO 45 ADULTS WITH A DISABILITY.

Program 2

Expenses: $3,418,789 Revenue: $3,405,533

THE VILLAGES PROGRAM IS THE DEVELOPMENT AND OPERATION OF QUALITY MULTI-FAMILY RENTAL PROPERTIES THAT PROVIDE HOUSING AFFORDABLE TO LOW-, VERY LOW- AND EXTREMELY LOW-INCOME INDIVIDUALS AND FAMILIES...

THE VILLAGES PROGRAM IS THE DEVELOPMENT AND OPERATION OF QUALITY MULTI-FAMILY RENTAL PROPERTIES THAT PROVIDE HOUSING AFFORDABLE TO LOW-, VERY LOW- AND EXTREMELY LOW-INCOME INDIVIDUALS AND FAMILIES; SOME OF WHOM WERE HOMELESS PRIOR TO ENTERING THE HOUSING. THE VILLAGES PROGRAM IS OPERATED TO FOSTER THE RESILIENCY AND MOBILITY OF ALL RESIDENTS. INDIVIDUALIZED SUPPORT SERVICES ARE OFFERED TO ALL RESIDENTS. FOR RESIDENTS THAT REQUIRE MORE INTENSIVE SERVICES, PERMANENT SUPPORTIVE HOUSING CASE MANAGEMENT AND PEER SUPPORTS ARE PROVIDED. THE VILLAGES PROGRAM PROVIDES 782 UNITS OF QUALITY AFFORDABLE HOUSING AT EIGHT PROPERTIES IN DUVAL COUNTY, TWO PROPERTIES IN ORANGE COUNTY, AND ONE PROPERTY IN OSCEOLA.WE INCORPORATE THE CORPORATION FOR SUPPORTIVE HOUSING'S SEVEN DIMENSIONS OF QUALITY FOR SUPPORTIVE HOUSING WHICH PROMOTES HIGH QUALITY HOUSING AND RESPONSIVE AND ACCOUNTABLE MANAGEMENT WHILE BUILDING RESIDENT LEADERSHIP AND SELF-SUFFICIENCY. IN 2024, ABILITY HOUSING RECEIVED THE CORPORATION OF SUPPORTIVE HOUSING'S DIMENSIONS OF QUALITY GOLD CERTIFICATION (THE HIGHEST CERTIFICATION FROM A NATIONAL LEADER IN BEST PRACTICES FOR SUPPORTIVE HOUSING). WE ARE THE ONLY ORGANIZATION IN FLORIDA TO RECEIVE THIS CERTIFICATION. THE AVERAGE RESIDENT INCOME IS APPROXIMATELY $15,066. OUTCOME: 626 APARTMENTS PROVIDING QUALITY HOUSING AFFORDABLE TO 1,639 LOW-INCOME PEOPLE.

Program 3

Expenses: $6,150,929 Revenue: $1,670,752

HOUSINGLINK IS A PERMANENT SUPPORTIVE HOUSING PROGRAM THAT MASTER LEASES APARTMENTS THROUGHOUT NORTHEAST FLORIDA SO FORMERLY CHRONICALLY HOMELESS INDIVIDUALS AND FAMILIES CAN EXIT HOMELESSNESS...

HOUSINGLINK IS A PERMANENT SUPPORTIVE HOUSING PROGRAM THAT MASTER LEASES APARTMENTS THROUGHOUT NORTHEAST FLORIDA SO FORMERLY CHRONICALLY HOMELESS INDIVIDUALS AND FAMILIES CAN EXIT HOMELESSNESS. HOUSINGLINK PROVIDES RENTAL ASSISTANCE AND VOLUNTARY, INDIVIDUALIZED CASE MANAGEMENT AND PEER SUPPORTS SO ALL RESIDENTS CAN MAINTAIN STABLE HOUSING AND INCREASE THEIR SELF-SUFFICIENCY. THE AVERAGE RESIDENT INCOME IS APPROXIMATELY $5,500. OUTCOME: 142 FORMERLY CHRONICALLY HOMELESS HOUSEHOLDS PROVIDED PERMANENT SUPPORTIVE HOUSING.

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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 $9,260,020

Program Service Revenue $3,835,133

Investment Income $435,810

Other Revenue $1,408,416

TOTAL REVENUE $14,939,379

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,970,491

Fundraising Expenses $281,091

Program Expenses $9,847,434

Other Expenses $7,595,289

TOTAL EXPENSES $10,565,780

Year-over-Year Comparison

	2024	2023	Change
Revenue	$14,939,379	$8,470,374	+0.8%
Expenses	$10,565,780	$8,235,776	+0.3%
Net Income	$4,373,599	$234,598	+17.6%

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

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

$188,484

Total Directors