COLORADO HOUSING ASSISTANCE CORPOR… - 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

1982

Legal Domicile

Principal Officer

VERONICA WARE

Phone

3035729445

Tax Period

2023-07-01 to 2024-06-30

COLORADO HOUSING ASSISTANCE CORPORATION, founded in 1982, is a community nonprofit in the Housing & Shelter sector that reported $1.6M in total revenue in fiscal year 2023. Revenue surged 51% from the prior year, signaling strong growth momentum. Net assets of $13.4M represent 103 months of operating reserves.

Mission

COLORADO HOUSING ASSISTANCE CORPORATION (CHAC) WAS ESTABLISHED IN 1982 TO HELP MAKE HOUSING AND SUCCESSFUL HOMEOWNERSHIP AFFORDABLE TO LOW AND MODERATE INCOME COLORADANS BY OFFERING PROGRAMS (CONTINUED ON SCHEDULE O)

Program Service Accomplishments

Program 1

Expenses: $1,018,901 Revenue: $237,309

LOAN ORIGINATION: FIRST TIME HOMEBUYER PROGRAMS FOR LOW AND MODERATE INCOME INDIVIDUALS AND THOSE WITH DISABILITIES. ALL LOANS ARE SECOND MORTGAGE LOANS AND ARE BEING GIVEN TO THOSE WHO CANNOT OBTAIN TRADITIONAL FINANCING WITHOUT ASSISTANCE. FORECLOSURE PREVENTION LOAN PROGRAM FOR ASSISTANCE TO HOMEOWNERS WITH CREDIT AND PAYMENT PROBLEMS.

Program 2

Expenses: $271,275 Revenue: $81,616

LOAN SERVICING FOR THE LOANS ORIGINATED WITH THE FIRST TIME HOMEBUYER AND FORECLOSURE PREVENTION LOAN PROGRAMS.

Program 3

Expenses: $246,734 Revenue: $91,958

HOME OWNERSHIP COUNSELING AND EDUCATION FOR FIRST TIME HOMEBUYERS AND THOSE FACING FORECLOSURES.

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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 (2023)

Revenue Breakdown

Contributions & Grants $961,533

Program Service Revenue $410,883

Investment Income $195,176

Other Revenue $3,125

TOTAL REVENUE $1,570,717

Expense Breakdown

Grants Paid $826,186

Salaries & Benefits $612,195

Fundraising Expenses $0

Program Expenses $1,536,910

Other Expenses $241,873

TOTAL EXPENSES $1,680,254

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,570,717	$1,038,985	+0.5%
Expenses	$1,680,254	$1,073,725	+0.6%
Net Income	$-109,537	$-34,740	+2.2%

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

$247,200

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHELLE MITCHELL	PRESIDENT	40.00	Officer	$122,072	$3,662	$125,734
LINDA NAPIER	VICE PRESIDE	40.00	Officer	$117,928	$3,538	$121,466
DAN MCMAHON	BOARD CHAIR	1.00	Officer Director	$0	$0	$0
NAOMI HUBERT	VICE CHAIR	1.00	Officer Director	$0	$0	$0
LARRY NELSON	SECRETARY	1.00	Officer Director	$0	$0	$0
SUSAN ALIRES	ASST. SECRET	1.00	Officer Director	$0	$0	$0
WILLIAM STEITZ	TREASURER	1.00	Officer Director	$0	$0	$0
MICHAEL GILBERT	BOARD MEMBER	1.00	Director	$0	$0	$0
RODGER HARA	BOARD MEMBER	1.00	Director	$0	$0	$0
ROBERT HAMPTON	BOARD MEMBER	1.00	Director	$0	$0	$0
LEAH DIRKS	BOARD MEMBER	1.00	Director	$0	$0	$0
SHERAP THARCHEN	BOARD MEMBER	1.00	Director	$0	$0	$0
JOSH CASHMAN	BOARD MEMBER	1.00	Director	$0	$0	$0
IRENE WEHRWEIN	BOARD MEMBER	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	No data	No data	No data	No data
2024	$1,570,717	$1,680,254	$15,362,592	$-109,537
2023	$1,038,985	$1,073,725	$15,310,203	$-34,740
2022	$1,293,432	$756,652	$14,417,448	$536,780
2021	$1,229,308	$1,033,589	$14,050,502	$195,719
2020	$937,523	$757,446	$13,949,338	$180,077
2019	$1,083,050	$707,515	$13,829,210	$375,535
2018	$1,128,404	$600,108	$13,579,709	$528,296

COLORADO HOUSING ASSISTANCE CORPORATION