NORWOOD AFFORDABLE HOUSING CORPORA… - Form 990 Financial Data

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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

2004

Legal Domicile

Phone

7817628115

Tax Period

2023-01-01 to 2023-12-31

NORWOOD AFFORDABLE HOUSING CORPORATION, founded in 2004, is a micro nonprofit in the Housing & Shelter sector that reported $31K in total revenue in fiscal year 2023. Revenue decreased 14% compared to the prior year. Expenses of $45K exceeded revenue, resulting in a 45% operating deficit.

Mission

THE ORGANIZATION'S PRIMARY EXEMPT PURPOSE IS TO PROVIDE AFFORDABLE HOUSING IN NORWOOD, MA AND OTHER COMMUNITIES IN NORFOLK COUNTY MA.

Program Service Accomplishments

Program 1

Expenses: $42,344 Revenue: $31,270

THE ORGANIZATION'S EXEMPT PURPOSE IS TO PROVIDE AFFORDABLE HOUSING TO THE CITIZENS OF THE TOWN OF NORWOOD, MA. CURRENTLY THE ORGANIZATION OWNS A BUILDING WITH A TOTAL OF THREE APARTMENTS, ALL OF...

THE ORGANIZATION'S EXEMPT PURPOSE IS TO PROVIDE AFFORDABLE HOUSING TO THE CITIZENS OF THE TOWN OF NORWOOD, MA. CURRENTLY THE ORGANIZATION OWNS A BUILDING WITH A TOTAL OF THREE APARTMENTS, ALL OF WHICH ARE CURRENTLY OCCUPIED.

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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 $31,270

Investment Income $0

Other Revenue $0

TOTAL REVENUE $31,270

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $42,344

Other Expenses $45,440

TOTAL EXPENSES $45,440

Year-over-Year Comparison

	2023	2022	Change
Revenue	$31,270	$36,293	-0.1%
Expenses	$45,440	$39,902	+0.1%
Net Income	$-14,170	$-3,609	+2.9%

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
JENNIFER POLITO	Director	1.00	Director	$0	$0	$0
DONNA DOLINER	Director	1.00	Director	$0	$0	$0
SCOTT MURPHY	Director	1.00	Director	$0	$0	$0
PATRICIA STARR	President	1.00	Officer	$0	$0	$0
LOIS MAGUIRE	Vice President	1.00	Officer	$0	$0	$0
JOHN GALVANI	Treasurer	1.00	Officer	$0	$0	$0
SEAN BARNICLE	CLERK/EXOFFICIO	1.00	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
2023	$31,270	$45,440	$688,171	$-14,170
2022	$36,293	$39,902	$726,288	$-3,609
2021	$44,574	$41,217	$754,103	$3,357
2020	$125,691	$48,504	$769,967	$77,187
2019	$47,241	$46,688	$714,183	$553
2018	$126,361	$45,033	$733,563	$81,328

NORWOOD AFFORDABLE HOUSING CORPORATION