Spartanburg Area Housing Corporation (EIN 823170687) - 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

1979

Legal Domicile

Principal Officer

Shaunte Evans

Phone

8645986000

Tax Period

2023-10-01 to 2024-09-30

Spartanburg Area Housing Corporation, founded in 1979, is a small nonprofit in the Housing & Shelter sector that reported $572K in total revenue in fiscal year 2023. Revenue surged 148% from the prior year, signaling strong growth momentum. The organization ran a surplus of $310K, a strong 54% operating margin.

Mission

The purpose of the organization is to provide affordable housing opportunities for economically disadvantage d families and individuals.

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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 $0

Program Service Revenue $571,782

Investment Income $0

Other Revenue $0

TOTAL REVENUE $571,782

Expense Breakdown

Grants Paid $0

Salaries & Benefits $17,084

Fundraising Expenses $0

Program Expenses $223,804

Other Expenses $244,631

TOTAL EXPENSES $261,715

Year-over-Year Comparison

	2023	2022	Change
Revenue	$571,782	$230,930	+1.5%
Expenses	$261,715	$590,730	-0.6%
Net Income	$310,067	$-359,800	-1.9%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Matthew Myers	Director	1.00	Director	$0	$0	$0
John Fairey	Director	1.00	Director	$0	$0	$0
Brooks Gaylord	Director	1.00	Director	$0	$0	$0
J Timothy Camp	Director	1.00	Director	$0	$0	$0
Michelle Jones	Director	1.00	Director	$0	$0	$0
Chunsta Miller	Director	1.00	Director	$0	$0	$0
Dr Ebony Gaffney	Director	1.00	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	$571,782	$261,715	$7,665,526	$310,067
2023	$230,930	$590,730	$7,599,010	$-359,800
2022	$566,868	$368,887	$9,306,034	$197,981
2021	$1,429,053	$1,067,804	$6,218,754	$361,249

Spartanburg Area Housing Corporation