CAPE CORAL 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

1992

Legal Domicile

Principal Officer

TONIRAE HURLEY

Phone

2394710922

Tax Period

2019-10-01 to 2020-09-30

CAPE CORAL HOUSING DEVELOPMENT CORP, founded in 1992, is a community nonprofit that reported $1.5M in total revenue in fiscal year 2019. Expenses of $2.3M exceeded revenue, resulting in a 50% operating deficit.

Mission

THE ORGANIZATION IS DEDICATED TO THE ECONOMIC REVITALIZATION OF THE BEAUTIFUL CITY OF CAPE CORAL THROUGH A PARTNERSHIP WITH CITY GOVERNMENT, LOCAL LENDERS AND HOMEBUYERS BY THE DEVELOPMENT OF DECENT, SAFE, AND AFFORDABLE HOUSING OFFERED TO LOW-INCOME FAMILIES.

Program Service Accomplishments

Program 1

Expenses: $1,531,656 Revenue: $645,116

NEW CONSTRUCTION AND RELATED EXPENSES FOR COMPLETION OF OR REHAB OF HOUSES SOLD TO QUALIFIED FAMILIES. 12 FAMILIES RECEIVED NEWLY CONSTRUCTED OR PURCHASED REHABILITATED HOMES.

Program 2

DOWNPAYMENT ASSISTANCE PROGRAM IS PROVIDED TO LOW INCOME INDIVIDUALS WHO ARE IN NEED OF ADDITIONAL FUNDS THAT ALLOW THEM TO PAY FOR CLOSING COSTS ASSOCIATED WITH PURCHASING A HOME. FOUR FAMILIES...

DOWNPAYMENT ASSISTANCE PROGRAM IS PROVIDED TO LOW INCOME INDIVIDUALS WHO ARE IN NEED OF ADDITIONAL FUNDS THAT ALLOW THEM TO PAY FOR CLOSING COSTS ASSOCIATED WITH PURCHASING A HOME. FOUR FAMILIES RECEIVED ASSISTANCE TO PURCHASE A HOME.

Program 3

Expenses: $569,801 Revenue: $682,072

OWNER OCCUPIED REHABILITATED HOUSING WAS ADDED TO HELP LOW INCOME QUALIFIED HOMEOWNERS REHAB AND REPAIR THEIR HOMES. ELEVEN REHABILITATION PROJECTS WERE COMPLETED.

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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 (2019)

Revenue Breakdown

Contributions & Grants $38,500

Program Service Revenue $1,461,894

Investment Income $-5,134

Other Revenue $1,802

TOTAL REVENUE $1,497,062

Expense Breakdown

Grants Paid $14,280

Salaries & Benefits $120,031

Fundraising Expenses $0

Program Expenses $2,201,980

Other Expenses $2,116,090

TOTAL EXPENSES $2,250,401

Year-over-Year Comparison

	2019	2018	Change
Revenue	$1,497,062	$1,504,249	0.0%
Expenses	$2,250,401	$1,548,215	+0.5%
Net Income	$-753,339	$-43,966	+16.1%

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

$99,887

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BONNIE SCHNELL	EXC DIRECTOR	40.00	Officer	$95,130	$4,757	$99,887
DARRYL AUBUCHON	DIRECTOR	1.00	Director	$0	$0	$0
TONIRAE HURLEY	PRESIDENT	1.00	Officer Director	$0	$0	$0
SHEILA JEFFREY	DIRECTOR	1.00	Director	$0	$0	$0
DARLA LLOYD	DIRECTOR	1.00	Director	$0	$0	$0
SAL MANISCALCO	TREASURER	1.00	Officer Director	$0	$0	$0
MARTHA S WARCHOL	SECRETARY	1.00	Officer Director	$0	$0	$0
GINNY YATES	VICE PRESIDE	1.00	Officer 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
2020	$1,497,062	$2,250,401	No data	$-753,339
2019	$1,504,249	$1,548,215	$826,712	$-43,966
2018	$1,742,096	$1,775,636	$1,023,517	$-33,540