SELMA HOUSING DEVELOPMENT CORP

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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

1987

Legal Domicile

Principal Officer

STEPHEN G SMITHERMAN

Phone

3348744000

Tax Period

2024-01-01 to 2024-12-31

SELMA HOUSING DEVELOPMENT CORP, founded in 1987, is a small nonprofit that reported $127K in total revenue in fiscal year 2024. Revenue decreased 11% compared to the prior year. Expenses of $180K exceeded revenue, resulting in a 42% operating deficit.

Mission

TO PROMOTE AND PROVIDE DECENT, SAFE, AND SANITARY HOUSING FOR PERSONS OF LOW INCOME, INCLUDING FAMILIES, ELDERLY, AND DISABLED.

Program Service Accomplishments

Program 1

Expenses: $166,673 Revenue: $126,952

QUALITY HOUSING WAS PROVIDED FOR LOW INCOME FAMILIES, ELDERLY, AND DISABLED PEOPLE IN DALLAS COUNTY, ALABAMA.

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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 $0

Program Service Revenue $126,952

Investment Income $1

Other Revenue $0

TOTAL REVENUE $126,953

Expense Breakdown

Grants Paid $0

Salaries & Benefits $93,468

Fundraising Expenses $0

Program Expenses $166,673

Other Expenses $86,402

TOTAL EXPENSES $179,870

Year-over-Year Comparison

	2024	2023	Change
Revenue	$126,953	$142,566	-0.1%
Expenses	$179,870	$190,631	-0.1%
Net Income	$-52,917	$-48,065	+0.1%

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

Volunteers

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

$86,824

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
STEPHEN G SMITHERMAN	EXECUTIVE DI	40.00	Officer	$86,824	$0	$86,824
BENJAMIN AUSTIN	COMMISSIONER	N/A	Officer	$0	$0	$0
WESLEY J KELLY IV	CHAIRMAN	N/A	Officer	$0	$0	$0
BRAXTON L CUMMINGS JR	VICE CHAIRMA	N/A	Officer	$0	$0	$0
JOANNA N SMITHERMAN	SECRETARY-TR	N/A	Officer	$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	$126,953	$179,870	$907,608	$-52,917
2023	$142,566	$190,631	$973,985	$-48,065
2022	$137,667	$229,020	$1,013,165	$-91,353
2021	$120,198	$220,233	$1,093,219	$-100,035
2020	$147,276	$185,596	$1,176,851	$-38,320
2019	$139,667	$189,334	$1,185,400	$-49,667
2018	$138,360	$188,452	$1,243,117	$-50,092