TEXAS STATE AFFORDABLE HOUSING CORPORATION (EIN 742746185) - Form 990 Financial Analysis & Trantor Score

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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

1994

Legal Domicile

Principal Officer

DAVID LONG

Phone

5124773555

Tax Period

2023-09-01 to 2024-08-31

TEXAS STATE AFFORDABLE HOUSING CORPORATION, founded in 1994, is a mid-sized nonprofit in the Housing & Shelter sector that reported $85.2M in total revenue in fiscal year 2023. Expenses of $116.0M exceeded revenue, resulting in a 36% operating deficit.

Mission

PROVIDE LOWER INCOME TEXANS WITH HOUSING FINANCE OPTIONS.

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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 $463,080

Program Service Revenue $76,210,997

Investment Income $7,140,473

Other Revenue $1,346,342

TOTAL REVENUE $85,160,892

Expense Breakdown

Grants Paid $1,480,973

Salaries & Benefits $3,891,636

Fundraising Expenses $187,108

Program Expenses $115,158,842

Other Expenses $110,649,285

TOTAL EXPENSES $116,021,894

Year-over-Year Comparison

	2023	2022	Change
Revenue	$85,160,892	$88,121,465	0.0%
Expenses	$116,021,894	$34,965,677	+2.3%
Net Income	$-30,861,002	$53,155,788	-1.6%

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

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

$941,922

Total Directors

Key Employees

$216,698

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
WILLIAM DIETZ	CHAIR	1.00	Director	$0	$0	$0
VALERIE CARDENAS	VICE CHAIR	1.00	Director	$0	$0	$0
LEMUEL WILLIAMS	MEMBER	1.00	Director	$0	$0	$0
COURTNEY JOHNSON-ROSE	MEMBER	1.00	Director	$0	$0	$0
ANDY WILLIAMS	MEMBER	1.00	Director	$0	$0	$0
DAVID RASSIN	MEMBER	1.00	Director	$0	$0	$0
SAN JUANITA TAYLOR	EXECUTIVE VICE PRESIDENT	40.00	Officer	$218,958	$8,800	$227,758
REBECCA HARRISON DELEON	BOARD SECRETARY	40.00	Officer	$73,781	$16,530	$90,311
MELINDA GAY SMITH	CFO	40.00	Officer	$222,126	$16,404	$238,530
DAVID W LONG	PRESIDENT	40.00	Officer	$234,111	$23,997	$258,108
CYNTHIA GONZALES	ASSISTANT BOARD SECRETARY	40.00	Officer	$98,186	$29,029	$127,215
JONIEL L LEVECQUE	SENIOR DIRECTOR OF SINGLE FAMILY HOMEOWNERSHIP	40.00	Key Emp	$195,176	$21,522	$216,698
NICHOLAS DANIEL LAWERENCE	CONTROLLER	40.00	Highest	$159,954	$34,744	$194,698
LAURA ROSS	SENIOR MANAGER COMMUNICATION & DEVELOPMENT	40.00	Highest	$197,235	$41,432	$238,667
KATHRYN HOWARD	SENIOR DIRECTOR COMMUNICATION, GOVT. RELATIONS	40.00	Highest	$129,231	$31,500	$160,731
DAVID WAYNE DANENFELZER	SENIOR DIRECTOR DEVELOPMENT FINANCE	40.00	Highest	$126,417	$45,536	$171,953
BETSY ALDRICH	SR ACCOUNTING MANAGER	40.00	Highest	$107,819	$18,028	$125,847

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	$85,160,892	$116,021,894	$490,955,663	$-30,861,002
2023	$88,121,465	$34,965,677	$440,678,449	$53,155,788
2022	$110,068,921	$9,567,271	$327,930,726	$100,501,650
2021	$134,173,909	$9,070,626	$253,139,285	$125,103,283
2020	$46,562,579	$9,612,123	$152,556,646	$36,950,456
2019	$11,659,601	$8,766,827	$120,401,181	$2,892,774
2018	$17,353,981	$7,408,776	$76,098,401	$9,945,205

TEXAS STATE AFFORDABLE HOUSING CORPORATION