HOMES FOR INDEPENDENCE INC (EIN 593342379) - 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

1995

Legal Domicile

Principal Officer

BRUCE PATTERSON

Phone

7275387370

Tax Period

2023-07-01 to 2024-06-30

HOMES FOR INDEPENDENCE INC, founded in 1995, is a community nonprofit in the Housing & Shelter sector that reported $1.5M in total revenue in fiscal year 2023. Expenses of $2.4M exceeded revenue, resulting in a 59% operating deficit.

Mission

TO FACILITATE SERVICES FOR PEOPLE WITH DISABILITIES TO BUILD MORE INCLUSIVE COMMUNITIES.

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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 $593,882

Investment Income $876,369

Other Revenue $22,190

TOTAL REVENUE $1,492,441

Expense Breakdown

Grants Paid $14,429

Salaries & Benefits $1,030,567

Fundraising Expenses $0

Program Expenses $2,111,988

Other Expenses $1,327,528

TOTAL EXPENSES $2,372,524

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,492,441	$1,527,209	0.0%
Expenses	$2,372,524	$2,526,620	-0.1%
Net Income	$-880,083	$-999,411	-0.1%

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

$1,734,395

Total Directors

Key Employees

$275,828

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LALANIA SEEDERS	CHAIR	0.10	Officer Director	$0	$0	$0
KATIE BENDEL	VICE CHAIR	0.10	Officer Director	$0	$0	$0
BARBARA MCSHERRY	SECRETARY	0.10	Officer Director	$0	$0	$0
KEVIN SOUTHSCOTT	TREASURER	0.10	Officer Director	$0	$0	$0
GILBERT LOGAN	DIRECTOR	0.10	Director	$0	$0	$0
MONIQUE LITTLE	DIRECTOR	0.10	Director	$0	$0	$0
AMANDA GOMEZ	DIRECTOR	0.10	Director	$0	$0	$0
BRUCE PATTERSON	PRESIDENT/CEO	1.00	Officer	$17,888	$40,363	$636,644
NATHANIEL HOOVER	CHIEF FINANCIAL OFFICER	1.00	Officer	$7,330	$1,947	$368,417
KENNETH CRUM	CHIEF OPERATING OFFICER	1.00	Officer	$6,858	$41,634	$384,541
MATTHEW MOTKO	EXECUTIVE DIRECTOR	4.00	Officer	$16,729	$32,294	$199,575
LISA CICCOLELLI	DIRECTOR-HOUSING	40.00	Officer	$124,367	$20,851	$145,218
ANDREW RIND	EVP-PROGRAM SERVICES	1.00	Key Emp	$4,867	$32,471	$275,828
DENNIS DAPOLITO	EVP-BUSINESS DEVELOPMENT	1.00	Highest	$5,769	$35,476	$323,964
LISA LONG	EVP-IT	1.00	Highest	$5,603	$18,087	$298,221
SWATI ANEJA	EVP-HR	1.00	Highest	$5,449	$23,653	$296,044
SOMA BAKHTARI	VP-IT	1.00	Highest	$4,242	$32,431	$244,573
JOHN ANGERER	VP-RISK & COMPLIANCE	1.00	Highest	$3,916	$35,240	$231,082

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	$1,492,441	$2,372,524	$7,877,459	$-880,083
2023	$1,527,209	$2,526,620	$6,392,695	$-999,411
2022	$693,308	$2,049,241	$4,666,831	$-1,355,933
2021	$677,747	$1,854,612	$2,665,248	$-1,176,865
2020	$814,396	$2,199,777	$2,805,113	$-1,385,381
2019	$1,074,258	$1,766,782	$2,677,418	$-692,524

HOMES FOR INDEPENDENCE INC