Detroit Affordable Homes Inc

EIN: 611595858 501(c)(3) Housing & Shelter

Berkley, MI

Total Revenue
$1,569,375
Total Expenses
$1,364,116
Total Assets
$2,686,770
Net Assets
$2,535,943
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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
2009
Legal Domicile
MI
Principal Officer
Kirk B Bruce
Phone
2486299155
Tax Period
2023-01-01 to 2023-12-31

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.

Mission

To develop and preserve affordable housing for Extremly Low, Very Low and Low Income families, seniors, disabled and disadvantaged populations.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $1,581,834
Investment Income $0
Other Revenue $-12,459
TOTAL REVENUE $1,569,375

Expense Breakdown

Grants Paid $0
Salaries & Benefits $492,975
Fundraising Expenses $0
Program Expenses $1,343,462
Other Expenses $871,141
TOTAL EXPENSES $1,364,116

Year-over-Year Comparison

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%
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

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Governance

Voting Members
4
Independent Members
4
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
3
$492,975
Total Directors
4
$0
Key Employees
1
$492,975
Highest Compensated
0
reported
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
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 $1,569,375 $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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