INDELIBLE HOUSING 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

2018

Legal Domicile

Principal Officer

RICHARD I KNAPP

Phone

2404999665

Tax Period

2023-01-01 to 2023-12-31

INDELIBLE HOUSING INC, founded in 2018, is a micro nonprofit in the Housing & Shelter sector that reported $151K in total revenue in fiscal year 2023. Revenue fell 121% from the prior year — a significant decline worth monitoring.

Mission

THE MISSION OF INDELIBLE HOUSING, INC. IS THE PRESERVATION OF AFFORDABLE HOUSING IN IOWA, AND ECONOMIC REVITALIZATION OF THE CITY OF GRINNELL, IOWA. TO SECURE THE BRIGHTEST FUTURE FOR THE CITY AND ITS RESIDENTS, HOUSING POLICY AND ECONOMIC REVITALIZATION MUST BENEFIT ALL SEGMENTS OF THE CITY'S POPULATION, AND ALL COMMUNITIES WITHIN THE CITY. THE FREE MARKET AND PROFIT-MOTIVATED INVESTMENT ACTIVITY OFTEN LEAVE CERTAIN COMMUNITIES AND POPULATION SEGMENTS UNDERSERVED. THE DIRECTORS HAVE ESTABLISHED THE CORPORATION WITH ITS PRIMARY MISSION TO HELP RESOLVE THIS DEFICIENCY AND BRING ECONOMIC REVITALIZATION, PRIMARILY IN THE FORM OF IMPROVED AND AFFORDABLE HOUSING, JOB OPPORTUNITIES AND COMMUNITY AMENITIES TO THE CITY'S LOWER-INCOME NEIGHBORHOODS.

Program Service Accomplishments

Program 1

Expenses: $24,288

INDELIBLE HOUSING INC, ACQUIRED A 50 UNIT ELDERLY LOW INCOME HOUSING PROJECT, MT. CARMEL, AND A 30 UNIT ELDERLY LOW INCOME HOUSING PROJECT, MT. VILLAGE, BOTH IN WATERLOO, IOWA. WHICH WAS CONTRIBUTED TO WATERLOO INDELIBLE HOUSING LLC WITH INDELIBLE HOUSING, INC RETAINING A 51% OWNERSHIP. THE PROPERTIES ARE RENTED TO HUD QUALIFIED FAMILIES AT BELOW MARKET RATES PURSUANT TO SECTION 8.

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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 $36,599

Program Service Revenue $0

Investment Income $1,516

Other Revenue $-189,533

TOTAL REVENUE $-151,418

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $24,288

Other Expenses $24,288

TOTAL EXPENSES $24,288

Year-over-Year Comparison

	2023	2022	Change
Revenue	$-151,418	$707,713	-1.2%
Expenses	$24,288	$8,109	+2.0%
Net Income	$-175,706	$699,604	-1.3%

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	Role	Reportable Comp	Other Comp	Total
GRANT PRESTON	SECRETARY	Officer Director	$0	$0	$0
KOFI MEROE	TREASURER	Officer Director	$0	$0	$0
RICHARD I KNAPP	PRESIDENT	Officer	$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	$-151,418	$24,288	$2,164,283	$-175,706
2022	$707,713	$8,109	$1,131,038	$699,604
2021	$881,775	$735,647	$3,674,676	$146,128
2020	$1,491,378	$514,876	$3,344,860	$976,502