FOUNDATION FOR AFFORDABLE HOUSING INC (EIN 611192747) - 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

1988

Legal Domicile

Principal Officer

PHILLIP N GRAY

Phone

8593680482

Tax Period

2023-01-01 to 2023-12-31

FOUNDATION FOR AFFORDABLE HOUSING INC, founded in 1988, is a community nonprofit in the Housing & Shelter sector that reported $1.3M in total revenue in fiscal year 2023. Revenue surged 61% from the prior year, signaling strong growth momentum. Expenses of $1.1M left a modest 13% surplus.

Mission

THE FOUNDATION FOR AFFORDABLE HOUSING, INC. IS A NON-PROFIT ORGANIZATION LOCATED IN DOWNTOWN LEXINGTON, KENTUCKY WHICH PROVIDES SAFE, CLEAN AND AFFORDABLE HOUSING FOR THE WORKING HOMELESS AND RECOVERING HOMELESS VETERANS.

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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 $727,671

Program Service Revenue $501,252

Investment Income $10,208

Other Revenue $26,230

TOTAL REVENUE $1,265,361

Expense Breakdown

Grants Paid $0

Salaries & Benefits $161,629

Fundraising Expenses $0

Program Expenses $1,043,586

Other Expenses $936,850

TOTAL EXPENSES $1,098,479

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,265,361	$787,184	+0.6%
Expenses	$1,098,479	$583,403	+0.9%
Net Income	$166,882	$203,781	-0.2%

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

$51,324

Total Directors

$51,324

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PHILLIP N GRAY	PRESIDENT AND DIRECTOR	40.00	Officer Director	$51,324	$0	$51,324
DAVID W RICHARD	TREASURER AND DIRECTOR	2.00	Officer Director	$0	$0	$0
TED TUDOR	DIRECTOR	1.00	Director	$0	$0	$0
JONATHAN EDWARDS	CHAIR AND DIRECTOR	2.00	Officer Director	$0	$0	$0
ELIZABETH L GRAY	SECRETARY AND DIRECTOR	2.00	Officer Director	$0	$0	$0
PAUL WARNER	DIRECTOR	1.00	Director	$0	$0	$0
CAROLYN RICHART	DIRECTOR	1.00	Director	$0	$0	$0
PAMELA JOHNSON WALKER	VICE-CHAIR AND DIRECTOR	1.00	Officer Director	$0	$0	$0
WILLIAM EMBRY III	DIRECTOR	1.00	Director	$0	$0	$0
SHERRI BALL	DIRECTOR	1.00	Director	$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
2024	No data	No data	No data	No data
2023	$1,265,361	$1,098,479	$4,615,513	$166,882
2022	$787,184	$583,403	$2,889,245	$203,781
2021	$806,292	$570,839	$2,410,355	$235,453
2020	$855,140	$540,517	$2,223,553	$314,623
2019	$871,668	$567,943	$1,945,843	$303,725
2018	$723,923	$587,084	$1,770,449	$136,839

FOUNDATION FOR AFFORDABLE HOUSING INC