COMMONWEALTH MULTIFAMILY HOUSING CORPORATION

EIN: 760651319 501(c)(3) Housing & Shelter

TEMPLE, TX

Total Revenue
$14,451,584
Total Expenses
$19,244,991
Total Assets
$104,329,337
Net Assets
$-2,166,130
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2000
Legal Domicile
PA
Principal Officer
DAVID P COLE
Phone
2547747766
Tax Period
2024-01-01 to 2024-12-31

COMMONWEALTH MULTIFAMILY HOUSING CORPORATION, founded in 2000, is a mid-sized nonprofit in the Housing & Shelter sector that reported $14.5M in total revenue in fiscal year 2024. Revenue decreased 14% compared to the prior year. Expenses of $19.2M exceeded revenue, resulting in a 33% operating deficit.

Mission

PRESERVATION, DEVELOPMENT, CONSTRUCTION AND OPERATION OF AFFORDABLE MULTIFAMILY HOUSING AND THE PROVIDING OF EDUCATIONAL AND SELF-IMPROVEMENT SERVICES TO THE MIDDLE, LOW AND VERY-LOW INCOME RESIDENTS IN SUCH HOUSING.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $14,053,908
Investment Income $85,840
Other Revenue $311,836
TOTAL REVENUE $14,451,584

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $18,943,894
Other Expenses $19,244,991
TOTAL EXPENSES $19,244,991

Year-over-Year Comparison

2024 2023 Change
Revenue $14,451,584 $16,891,417 -0.1%
Expenses $19,244,991 $21,156,490 -0.1%
Net Income $-4,793,407 $-4,265,073 +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

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Liquidity & Cash Position

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Governance

Voting Members
6
Independent Members
2
Employees
7
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
2
$300,000
Total Directors
7
$300,000
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JOHN A CARLISI PRESIDENT/TREASURER 20.25
Officer Director
$150,000 $0 $150,000
DAVID P COLE VICE PRESIDENT/SECRETARY 20.25
Officer Director
$150,000 $0 $150,000
PATRICIA RAINWATER DIRECTOR 0.25
Director
$0 $0 $0
MARGARET MCFARLAND DIRECTOR 0.25
Director
$0 $0 $0
JACQUE H WOODRING DIRECTOR 0.25
Director
$0 $0 $0
ASHLEY MARSHALL DIRECTOR 0.25
Director
$0 $0 $0
ESTHER CHAVEZ DIRECTOR 0.25
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 $14,451,584 $19,244,991 $104,329,337 $-4,793,407
2023 $16,891,417 $21,156,490 $109,994,773 $-4,265,073
2022 $15,668,421 $22,789,816 $136,139,637 $-7,121,395
2021 $14,871,130 $16,164,257 $162,876,921 $-1,293,127
2020 $12,521,462 $13,580,796 $66,399,835 $-1,059,334
2019 $7,333,624 $8,911,420 $43,792,252 $-1,577,796
2018 $6,240,752 $8,837,536 $59,710,492 $-2,596,784
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