NEW DIRECTIONS HOUSING CORPORATION

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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

1971

Legal Domicile

Principal Officer

BRIDGETTE JOHNSON

Phone

5025892272

Tax Period

2024-07-01 to 2025-06-30

NEW DIRECTIONS HOUSING CORPORATION, founded in 1971, is a mid-sized nonprofit that reported $13.4M in total revenue in fiscal year 2024. Revenue fell 22% from the prior year — a significant decline worth monitoring.

Mission

NEW DIRECTIONS CREATES AND PRESERVES HOMES, FOSTERS COMMUNITY STABILITY AND SUPPORTS FAMILIES ON THEIR PATH TO ECONOMIC SUCCESS.

Program Service Accomplishments

Program 1

Expenses: $4,794,860 Revenue: $4,808,135

RENTAL PROPERTIES - PROVIDE SHELTER AND SITE-BASED SOCIAL AND EDUCATIONAL SERVICES TO AID LOW-INCOME INDIVIDUALS. NEW DIRECTIONS CONNECTS RESIDENTS TO THE RESOURCES THEY NEED TO MEET THEIR GOALS IN LIFE, INCLUDING SOCIAL SERVICES, YOUTH PROGRAMMING, COACHING, AND GROUP INFORMATIONAL SESSIONS.

Program 2

Expenses: $3,103,716 Revenue: $2,723,802

ASSET AND PROPERTY MANAGEMENT - MAINTAIN AND PRESERVE RENTAL HOUSING TO HELP LOW-INCOME HOUSEHOLDS. NEW DIRECTIONS PROVIDES CLEAN, SAFE, AFFORDABLE, QUALITY HOUSING FOR MORE THAN 821 FAMILIES AND...

ASSET AND PROPERTY MANAGEMENT - MAINTAIN AND PRESERVE RENTAL HOUSING TO HELP LOW-INCOME HOUSEHOLDS. NEW DIRECTIONS PROVIDES CLEAN, SAFE, AFFORDABLE, QUALITY HOUSING FOR MORE THAN 821 FAMILIES AND 1,363 INDIVIDUALS OF LOW INCOME, INCLUDING CHILDREN AND SENIORS, IN OUR COMMUNITY'S MOST ECONOMICALLY DISADVANTAGED NEIGHBORHOODS.

Program 3

Expenses: $4,210,045

HOME OWNERSHIP PRESERVATION - INCREASE AND PRESERVE AFFORDABLE HOUSING, PRIMARILY IN LOUISVILLE'S WEST END NEIGHBORHOODS. NEW DIRECTIONS MOBILIZES COMMUNITY-WIDE RESOURCES AND HAD 1,154 VOLUNTEERS...

HOME OWNERSHIP PRESERVATION - INCREASE AND PRESERVE AFFORDABLE HOUSING, PRIMARILY IN LOUISVILLE'S WEST END NEIGHBORHOODS. NEW DIRECTIONS MOBILIZES COMMUNITY-WIDE RESOURCES AND HAD 1,154 VOLUNTEERS THIS FISCAL YEAR TO ASSIST LOW TO MODERATE INCOME SENIORS AND DISABLED HOMEOWNERS WITH ESSENTIAL HOME REPAIRS. IN ADDITION, WE PROVIDE LOW TO MODERATE INCOME HOMEOWNERS WITH LARGER HOME REPAIR OPPORTUNITIES THROUGH LOW-INTEREST OR FORGIVABLE LOANS TO PREVENT AND COMBAT THE ISSUE OF VACANT AND ABANDONED PROPERTIES IN OUR CITY.

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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 $5,226,714

Program Service Revenue $7,531,937

Investment Income $603,951

Other Revenue $4,606

TOTAL REVENUE $13,367,208

Expense Breakdown

Grants Paid $0

Salaries & Benefits $5,276,830

Fundraising Expenses $366,915

Program Expenses $13,103,480

Other Expenses $9,350,279

TOTAL EXPENSES $14,627,109

Year-over-Year Comparison

	2024	2023	Change
Revenue	$13,367,208	$17,060,814	-0.2%
Expenses	$14,627,109	$14,002,803	+0.0%
Net Income	$-1,259,901	$3,058,011	-1.4%

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

1154

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

$931,411

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KURT MASON	CHAIR	0.25	Officer Director	$0	$0	$0
ZACH WEDDING	IMMEDIATE PAST CHAIR	0.25	Officer Director	$0	$0	$0
GRETCHEN LEITERMAN	VICE CHAIR	0.25	Officer Director	$0	$0	$0
ELIZABETH RAUCH	SECRETARY	0.25	Officer Director	$0	$0	$0
TONYA MONTGOMERY	TREASURER	0.25	Officer Director	$0	$0	$0
TRICIA BURKE	DIRECTOR	0.25	Director	$0	$0	$0
STACHELLE BUSSEY	DIRECTOR	0.25	Director	$0	$0	$0
HEATHER M DEARING	DIRECTOR	0.25	Director	$0	$0	$0
KEISHA DORSEY	DIRECTOR	0.25	Director	$0	$0	$0
DARRELL FULLER	DIRECTOR	0.25	Director	$0	$0	$0
KATHRYN GILES	DIRECTOR	0.25	Director	$0	$0	$0
ZAN GLOVER	DIRECTOR	0.25	Director	$0	$0	$0
ADAM HALL	DIRECTOR	0.25	Director	$0	$0	$0
BRENT MILLER	DIRECTOR	0.25	Director	$0	$0	$0
ANDREW PLEASANT	DIRECTOR	0.25	Director	$0	$0	$0
JENNIFER RECKTENWALD	DIRECTOR	0.25	Director	$0	$0	$0
SHERI ROSE	DIRECTOR	0.25	Director	$0	$0	$0
W ALFRED SMITH	DIRECTOR	0.25	Director	$0	$0	$0
RITA WARD	DIRECTOR	0.25	Director	$0	$0	$0
FAITH WEEKLY	DIRECTOR	0.25	Director	$0	$0	$0
MARCUS WINKLER	DIRECTOR	0.25	Director	$0	$0	$0
GORDON C DUKE	DIRECTOR TO 4/2025	0.25	Director	$0	$0	$0
LORI FLANERY	PRESIDENT/CEO	40.00	Officer	$191,133	$6,538	$197,671
BRIDGETTE JOHNSON	COO	40.00	Officer	$161,364	$8,884	$170,248
KATHLEEN MCKUNE	CRO	40.00	Officer	$151,667	$708	$152,375
CHRISTOPHER ROSZMAN	CFO (TILL 11/24)/SR ADV (TILL 1/25)	40.00	Officer	$120,685	$5,228	$125,913
MICHAEL HEICHELBECH	CFO FROM 11/2024	40.00	Officer	$18,462	$0	$18,462
DAVID SNYDER	CDO	40.00	Officer	$120,226	$8,998	$129,224
GEORGE SANDERS	CIO	40.00	Officer	$100,398	$8,318	$108,716
JOHN BERAN	CSO	40.00	Officer	$24,007	$4,795	$28,802

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	$13,367,208	$14,627,109	$39,978,322	$-1,259,901
2024	$17,060,814	$14,002,803	$38,270,818	$3,058,011
2023	$21,004,769	$12,338,105	$33,651,135	$8,666,664
2022	$9,717,897	$11,385,018	$26,198,596	$-1,667,121
2021	$9,868,214	$9,869,389	$27,737,851	$-1,175
2020	$7,845,904	$7,685,745	$22,895,901	$160,159
2019	$7,553,800	$7,173,453	$23,610,129	$380,347