Berkley, MI
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)Detroit Affordable Homes Inc, founded in 2009, is a community nonprofit in the Housing & Shelter sector that reported $1.6M in total revenue in fiscal year 2023. Revenue grew 11% year-over-year, indicating healthy expansion. Expenses of $1.4M left a modest 13% surplus.
To develop and/or preserve affordable housing for Extremly Low Income ELI, Very Low Income VLI and Low Income LI families, seniors, disabled and disadvantaged populations, asset management of existing stabilized projects, underwriting new projects, overseeing construction, and applying for government incentives.
Oklahoma Central Region Portfolio -- This is a 261 scattered site RD project in central Oklahoma with a capital stack of 4 tax exempt bonds, USDA 515 and 538 debt. DAH spent 2023 finalizing 8609 cost...
Oklahoma Central Region Portfolio -- This is a 261 scattered site RD project in central Oklahoma with a capital stack of 4 tax exempt bonds, USDA 515 and 538 debt. DAH spent 2023 finalizing 8609 cost audit, stabilizing lease ups, securing permanent debt and asset management.
Modeling, underwriting, and applying for government incentives on new projects for preservation. DAH is working on the following projects currently 202 unit RD portfolio near Reno, NV utilizing USDA...
Modeling, underwriting, and applying for government incentives on new projects for preservation. DAH is working on the following projects currently 202 unit RD portfolio near Reno, NV utilizing USDA 515 and 538 debt, AHP, HUD HOME and NHT grants along with 4 tax exempt bond Federal LIHTC program 110 unit RD portfolio in Liberal, KS utilizing USDA 515 and 538 debt alongside 4 tax exempt bond Federal LIHTC program and finally utilizing the state low income housing tax credit program 48 unit adaptive re-use in Minot, ND using 4 tax exempt program and some local community incentives.
Asset management of DAHs current projects which include the following Franklin School Apartments, Guardian Apartments, Oakwood Village Apartments, and the Progressive Rural Housing Apartments.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2023 | 2022 | Change | |
|---|---|---|---|
| Revenue | $1,569,375 | $1,410,973 | +0.1% |
| Expenses | $1,364,116 | $554,439 | +1.5% |
| Net Income | $205,259 | $856,534 | -0.8% |
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
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| Kirk Bruce | Executive Director | 060.00 |
Officer
Key Emp
|
$492,975 | $0 | $492,975 |
| David T Dorsey III | Director, President | 001.00 |
Officer
Director
|
$0 | $0 | $0 |
| Anthony T Rankin | Director, Sec/Treas | 001.00 |
Officer
Director
|
$0 | $0 | $0 |
| Sean P Dunn | Director | 001.00 |
Director
|
$0 | $0 | $0 |
| Robert Force | Director | 001.00 |
Director
|
$0 | $0 | $0 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2024 | No data | No data | No data | No data |
| 2023 | $1,569,375 | $1,364,116 | $2,686,770 | $205,259 |
| 2022 | $1,410,973 | $554,439 | $2,481,481 | $856,534 |
| 2021 | $238,141 | $237,449 | $2,064,947 | $692 |
| 2020 | $948,282 | $432,276 | $2,279,540 | $516,006 |
| 2019 | $95,343 | $118,077 | $1,569,029 | $-22,734 |
| 2018 | $420,409 | $110,350 | $1,493,045 | $310,059 |
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