ASHEVILLE HOUSING DEVELOPMENT 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

2017

Legal Domicile

Principal Officer

JENNIFER PICKERING

Phone

8282581222

Tax Period

2021-01-01 to 2021-12-31

ASHEVILLE HOUSING DEVELOPMENT INC, founded in 2017, is a small nonprofit in the Housing & Shelter sector that reported $185K in total revenue in fiscal year 2021. Revenue fell 65% from the prior year — a significant decline worth monitoring. Expenses of $320K exceeded revenue, resulting in a 73% operating deficit.

Mission

FURTHERING THE DEVELOPMENT OF AFFORDABLE HOUSING, AND RESIDENTS THEREOF, IN THE ASHEVILLE, NORTH CAROLINA AREA FOR PERSONS OF LOW INCOME AND OTHERS AS PERMITTED BY APPLICABLE FEDERAL GUIDELINES.

Program Service Accomplishments

Program 1

Expenses: $308,356

ASHEVILLE HOUSING DEVELOPMENT, INC. CONTINUED TO OPERATE SOUTHSIDE KITCHEN, WHICH TRAINED RESIDENTS OF THE HOUSING AUTHORITY OF THE CITY OF ASHEVILLE ("HACA") AND OTHER LOW-INCOME INDIVIDUALS IN...

ASHEVILLE HOUSING DEVELOPMENT, INC. CONTINUED TO OPERATE SOUTHSIDE KITCHEN, WHICH TRAINED RESIDENTS OF THE HOUSING AUTHORITY OF THE CITY OF ASHEVILLE ("HACA") AND OTHER LOW-INCOME INDIVIDUALS IN ESSENTIAL CULINARY AND FOOD SERVICE SKILLS, PREPARED LOW-TO-NO-COST MEALS FOR ELDERLY, DISABLED, QUARANTINED, AND OTHER AFFORDABLE HOUSING RESIDENTS FACING FOOD INSECURITY. IN 2021, SOUTHSIDE KITCHEN DELIVERED MORE THAN 12,500 FREE MEALS AND TRAINED 4 INDIVIDUALS IN OPERATING A CRISIS KITCHEN. ASHEVILLE HOUSING DEVELOPMENT, INC. ALSO SERVED AS FISCAL AGENT FOR WE GIVE A SHARE, INC., A LOCAL GROUP WHO BEGAN A FUND DRIVE TO UTILIZE SOUTHSIDE KITCHEN FOR ASSISTING BOTH LOCAL GROWERS AND LOW-INCOME PERSONS WHO WERE AFFECTED BY THE COVID-19 PANDEMIC.

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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 (2021)

Revenue Breakdown

Contributions & Grants $185,221

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $185,221

Expense Breakdown

Grants Paid $148,588

Salaries & Benefits $115,039

Fundraising Expenses $0

Program Expenses $308,356

Other Expenses $56,320

TOTAL EXPENSES $319,947

Year-over-Year Comparison

	2021	2020	Change
Revenue	$185,221	$530,514	-0.7%
Expenses	$319,947	$337,930	-0.1%
Net Income	$-134,726	$192,584	-1.7%

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

$172,591

Total Directors