NEW HAVEN HOME INC

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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

1988

Legal Domicile

Principal Officer

JAMES JIM RHODES

Phone

9403255654

Tax Period

2024-01-01 to 2024-12-31

NEW HAVEN HOME INC, founded in 1988, is a community nonprofit that reported $2.4M in total revenue in fiscal year 2024. Revenue surged 40% from the prior year, signaling strong growth momentum. Expenses of $2.1M left a modest 9% surplus.

Mission

PROVIDE FOOD, HOUSING & SUPPLIES FOR NEEDY PEOPLE, WITH A SPECIAL EMPHASIS ON ASSISTING ABUSED AND DISABLED CHILDREN.

Program Service Accomplishments

Program 1

Expenses: $2,109,570 Revenue: $2,353,243

PROVIDE FOOD, HOUSING, AND SUPPLIES FOR NEEDY PEOPLE, WITH A SPECIAL EMPHASIS ON ASSISTING ABUSED AND DISABLED CHILDREN. DUE TO A CATASTROPHIC HAILSTORM THE SHELTER WAS ONLY OPEN FOR THREE MONTHS...

PROVIDE FOOD, HOUSING, AND SUPPLIES FOR NEEDY PEOPLE, WITH A SPECIAL EMPHASIS ON ASSISTING ABUSED AND DISABLED CHILDREN. DUE TO A CATASTROPHIC HAILSTORM THE SHELTER WAS ONLY OPEN FOR THREE MONTHS DURING 2024. THERE WAS OVER $149,000 DAMAGE TO ROOF, CEILINGS, WALLS AND FLOORS OF WHICH INSURANCE PAID. THE SHELTER SHOULD REOPEN NEXT MONTH. ADDITIONALLY, 1,800 NIGHTS OF SHELTER WERE PROVIDED TO UNHOUSED PERSONS AND THEIR 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 $2,352,041

Program Service Revenue $0

Investment Income $1,202

Other Revenue $0

TOTAL REVENUE $2,353,243

Expense Breakdown

Grants Paid $0

Salaries & Benefits $84,754

Fundraising Expenses $9,352

Program Expenses $2,109,570

Other Expenses $2,040,602

TOTAL EXPENSES $2,134,708

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,353,243	$1,676,689	+0.4%
Expenses	$2,134,708	$1,665,632	+0.3%
Net Income	$218,535	$11,057	+18.8%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TRACY LONG	Director	5.00	Director	$0	$0	$0
J ALLEN RHODES	Secretary	5.00	Officer Director	$0	$0	$0
JIM ZACHARIUS	Director	5.00	Director	$0	$0	$0
JAMES JIM RHODES	President	40.00	Officer Director	$0	$0	$0
J ALLEN RHODES	Treasurer	5.00	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
2024	$2,353,243	$2,134,708	$529,756	$218,535
2023	$1,676,689	$1,665,632	$357,229	$11,057
2022	$1,884,553	$1,856,470	$302,697	$28,083
2021	$2,049,221	$2,064,482	$277,409	$-15,261
2020	$1,836,634	$1,804,865	$294,176	$31,769
2019	$1,583,095	$1,592,859	$255,392	$-9,764
2018	$1,223,822	$1,240,364	$267,422	$-16,542