HERITAGE PLACE INC DBA ORCHARD RID… - 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

1977

Legal Domicile

Principal Officer

ANN JOHNSON

Phone

2086642680

Tax Period

2023-01-01 to 2023-12-31

HERITAGE PLACE INC DBA ORCHARD RIDGE INDEPENDENT LIVING, founded in 1977, is a community nonprofit in the Housing & Shelter sector that reported $2.2M in total revenue in fiscal year 2023. Revenue grew 13% year-over-year, indicating healthy expansion. Expenses of $3.3M exceeded revenue, resulting in a 48% operating deficit.

Mission

THE ORGANIZATION'S MISSION IS TO PROVIDE LOW INCOME HOUSING TO THE ELDERLY. THE PROJECT IS A U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT SUBSIDIZED SECTION 202 PROGRAM. THE PROJECT INCLUDES ACTIVITIES OF ITS DISREGARDED ENTITY, HERITAGE PLACE APARTMENTS, LLC, WHICH IS A U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT SECTION 8 AND SECTION 223(F) HOUSING PROGRAM.

Program Service Accomplishments

Program 1

Expenses: $2,915,738 Revenue: $1,081,039

HERITAGE PLACE, INC. IS AN IDAHO NONPROFIT CORPORATION OPERATING AN ELDERLY HOUSING COMPLEX CONSISTING OF 129 UNITS SUBSIDIZED UNDER SECTION 202, SECTION 8, AND SECTION 223(F) HOUSING PROGRAM.. AS...

HERITAGE PLACE, INC. IS AN IDAHO NONPROFIT CORPORATION OPERATING AN ELDERLY HOUSING COMPLEX CONSISTING OF 129 UNITS SUBSIDIZED UNDER SECTION 202, SECTION 8, AND SECTION 223(F) HOUSING PROGRAM.. AS SUCH, IT IS REGULATED BY THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT AS TO RENT CHARGES AND OPERATING METHODS. THE PROJECT DEPENDS ON ECONOMIC ASSISTANCE FROM HUD IN THE FORM OF RENTAL SUPPLEMENTS TO ASSIST IN MEETING OPERATING EXPENSES OF THE PROJECT. DURING THE CALENDAR YEAR, THE PROJECT OCCUPANCY RATE WAS CLOSE TO 100%, WHICH IS EVIDENCE OF THE GREAT NEED FOR SUCH PROJECTS IN THE AREA.

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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 $1,031,945

Program Service Revenue $1,081,039

Investment Income $123,193

Other Revenue $0

TOTAL REVENUE $2,236,177

Expense Breakdown

Grants Paid $1,243,956

Salaries & Benefits $760,504

Fundraising Expenses $0

Program Expenses $2,915,738

Other Expenses $1,309,906

TOTAL EXPENSES $3,314,366

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,236,177	$1,983,260	+0.1%
Expenses	$3,314,366	$1,728,994	+0.9%
Net Income	$-1,078,189	$254,266	-5.2%

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

N/A

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

$157,687

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ANN JOHNSON	Executive Dir.	15.00	Officer	$0	$4,154	$157,687
ROD COLWELL	President	0.50	Officer Director	$0	$0	$0
SARAH MCLAIN	Secretary	0.50	Officer Director	$0	$0	$0
TONY BERNS	Director	0.50	Director	$0	$0	$0
MIKE WILSON	Treasurer	0.50	Officer Director	$0	$0	$0
DAVID BOBBITT	Director	0.50	Director	$0	$0	$0
SUZANNE SUTTON METZGER	Director	0.50	Director	$0	$0	$0
ANN FARRAR	Director	0.50	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	No data	No data	No data	No data
2023	$2,236,177	$3,314,366	$6,932,399	$-1,078,189
2022	$1,983,260	$1,728,994	$7,681,149	$254,266
2021	$2,100,533	$2,249,963	$3,203,260	$-149,430
2020	$1,882,151	$1,755,280	$3,529,037	$126,871
2019	$1,916,177	$1,762,687	$3,370,477	$153,490
2018	$1,842,427	$1,691,429	$3,344,475	$150,998

HERITAGE PLACE INC DBA ORCHARD RIDGE INDEPENDENT LIVING