HOMES FOR IOWA 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

2019

Legal Domicile

Principal Officer

MIKE NORRIS

Phone

3194623504

Tax Period

2025-01-01 to 2025-12-31

HOMES FOR IOWA INC, founded in 2019, is a community nonprofit in the Housing & Shelter sector that reported $3.2M in total revenue in fiscal year 2025. Revenue grew 14% year-over-year, indicating healthy expansion.

Mission

THE PROVISION OF HOMES FOR CONSUMPTION BY PERSONS IN IOWA, THROUGH A PARTNERSHIP WITH THE STATE OF IOWA, WHEREBY CONVICTED OFFENDERS UNDERGO JOB AND APPRENTICE TRAINING WHILE CONSTRUCTING HOUSING UNITS

Program Service Accomplishments

Program 1

Expenses: $3,336,336 Revenue: $3,040,750

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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 (2025)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $3,040,750

Investment Income $174,993

Other Revenue $0

TOTAL REVENUE $3,215,743

Expense Breakdown

Grants Paid $0

Salaries & Benefits $75,959

Fundraising Expenses $0

Program Expenses $3,336,336

Other Expenses $3,260,376

TOTAL EXPENSES $3,336,335

Year-over-Year Comparison

	2025	2024	Change
Revenue	$3,215,743	$2,818,769	+0.1%
Expenses	$3,336,335	$3,044,193	+0.1%
Net Income	$-120,592	$-225,424	-0.5%

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
MIKE NORRIS	PRESIDENT	1	Officer	$0	$0	$0
JAY IVERSON	VP	1	Officer	$0	$0	$0
ANDY ROBERTS	TREASURER	1	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
2025	$3,215,743	$3,336,335	$3,435,252	$-120,592
2024	$2,818,769	$3,044,193	$2,957,688	$-225,424
2023	$2,008,532	$175,595	$2,905,580	$1,832,937
2022	$2,214,500	$1,845,594	$810,412	$368,906
2021	$2,413,039	$2,887,975	$1,403,011	$-474,936
2020	$955,497	$813,435	$1,300,186	$142,062
2019	$240,100	$3,745	$236,355	$236,355