LENOIR CITY HOUSING & DEVELOPMENT … - 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

2000

Legal Domicile

Principal Officer

MARVIN R HUNT

Phone

8659868707

Tax Period

2024-10-01 to 2025-09-30

LENOIR CITY HOUSING & DEVELOPMENT CORPORATION, founded in 2000, is a small nonprofit in the Housing & Shelter sector that reported $202K in total revenue in fiscal year 2024. Revenue grew 15% year-over-year, indicating healthy expansion. Expenses of $195K left a modest 4% surplus.

Mission

TO PROVIDE SUBSIDIZED HOUSING FOR LOW AND MODERATE INCOME INDIVIDUALS.

Program Service Accomplishments

Program 1

Expenses: $155,812 Revenue: $76,048

THE ORGANIZATION PROVIDES HOUSING IN SUPPORT OF THE LENOIR CITY HOUSING AUTHORITY WHICH PROVIDES HOUSING FOR VERY LOW, LOW AND MODERATE INCOME FAMILIES.

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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 $126,340

Program Service Revenue $76,048

Investment Income $0

Other Revenue $0

TOTAL REVENUE $202,388

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $155,812

Other Expenses $194,765

TOTAL EXPENSES $194,765

Year-over-Year Comparison

	2024	2023	Change
Revenue	$202,388	$176,162	+0.1%
Expenses	$194,765	$183,151	+0.1%
Net Income	$7,623	$-6,989	-2.1%

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

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
Cotton Hunt	Executive Director	N/A	Officer	$0	$0	$0
David Martin	Chairperson	1.00	Officer Director	$0	$0	$0
Cheri Brown	Vice-Chairperson	1.00	Officer Director	$0	$0	$0
Jason Tuttle	Commissioner	1.00	Director	$0	$0	$0
Leon Shields	Commissioner	1.00	Director	$0	$0	$0
Marty Fugate	Commissioner	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
2025	$202,388	$194,765	$557,069	$7,623
2024	No data	No data	No data	No data
2023	$188,876	$224,889	$618,313	$-36,013
2022	$188,237	$201,174	$667,502	$-12,937
2021	$199,612	$182,875	$710,376	$16,737
2020	$192,764	$237,773	$726,713	$-45,009
2019	$186,974	$209,259	$769,400	$-22,285
2018	$182,291	$218,390	$801,816	$-36,099

LENOIR CITY HOUSING & DEVELOPMENT CORPORATION