HERKIMER AFFORDABLE HOUSING INC (EIN 821235634) - 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

2017

Legal Domicile

Principal Officer

RICHARD DOWE

Phone

3158662252

Tax Period

2023-01-01 to 2023-12-31

HERKIMER AFFORDABLE HOUSING INC, founded in 2017, is a small nonprofit in the Housing & Shelter sector that reported $379K in total revenue in fiscal year 2023. Revenue fell 93% from the prior year — a significant decline worth monitoring. Expenses of $472K exceeded revenue, resulting in a 25% operating deficit.

Mission

HERKIMER AFFORDABLE HOUSING, INC. WAS FORMED FOR THE CHARITABLE PURPOSE OF SUPPORTING RESIDENTS OF HERKIMER NEW YORK IN CONNECTION WITH THE GOAL OF PROVIDING LOW INCOME HOUSING TO AREA RESIDENTS AND SUPPORTING THE HERKIMER HOUSING AUTHORITY IN ITS MISSION, A MUNICIPAL HOUSING AUTHORITY FOR THE VILLAGE OF HERKIMER, NEW YORK.

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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 $190,992

Program Service Revenue $187,784

Investment Income $0

Other Revenue $0

TOTAL REVENUE $378,776

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $395,163

Other Expenses $471,979

TOTAL EXPENSES $471,979

Year-over-Year Comparison

	2023	2022	Change
Revenue	$378,776	$5,539,862	-0.9%
Expenses	$471,979	$1,185,935	-0.6%
Net Income	$-93,203	$4,353,927	-1.0%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RICHARD DOWE	EXECUTIVE DIRECTOR	1.00	Officer Director	$0	$0	$0
ROBERT BRENCHLEY	CHAIR	0.25	Director	$0	$0	$0
AUDREY PICCIONE	TREASURER/VICE CHAIR	0.25	Officer Director	$0	$0	$0
LISA MASTRACCO	SECRETARY	0.25	Officer Director	$0	$0	$0
ELIZABETH RANDO	BOARD MEMBER	0.25	Director	$0	$0	$0
GEORGE NEVERUSKY	BOARD MEMBER	0.25	Director	$0	$0	$0
WILLIAM WILICZKA	TREASURER/VICE CHAIR	0.25	Officer Director	$0	$0	$0
DAVID RONAN	BOARD MEMBER	0.25	Director	$0	$0	$0
KEITH JOHNSON	BOARD MEMBER	0.25	Director	$0	$0	$0
CHRISTINE MCKINNEY	BOARD MEMBER	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	No data	No data	No data	No data
2023	$378,776	$471,979	$5,809,082	$-93,203
2022	$5,539,862	$1,185,935	$5,910,232	$4,353,927
2022	$5,539,862	$1,185,935	$5,910,232	$4,353,927
2021	$554,486	$460,466	$2,084,760	$94,020
2020	$100,050	$64,631	$167,337	$35,419
2019	$263,876	$131,958	$131,918	$131,918

HERKIMER AFFORDABLE HOUSING INC