SECOND HEART HOMES INC (EIN 841848246) - 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

2019

Principal Officer

MEGAN HOWELL

Phone

9412019353

Tax Period

2024-01-01 to 2024-12-31

SECOND HEART HOMES INC, founded in 2019, is a community nonprofit in the Housing & Shelter sector that reported $3.0M in total revenue in fiscal year 2024. Revenue surged 56% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.8M, a strong 59% operating margin.

Mission

TO REVIVE THE DIGNITY OF HOMELESS ADULTS WITH MENTAL ILLNESSES THROUGH HOUSING, SUPPORT, AND LOVE.

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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 (2024)

Revenue Breakdown

Contributions & Grants $2,376,811

Program Service Revenue $484,429

Investment Income $30,479

Other Revenue $68,411

TOTAL REVENUE $2,960,130

Expense Breakdown

Grants Paid $0

Salaries & Benefits $612,721

Fundraising Expenses $78,148

Program Expenses $869,843

Other Expenses $596,702

TOTAL EXPENSES $1,209,423

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,960,130	$1,893,085	+0.6%
Expenses	$1,209,423	$863,929	+0.4%
Net Income	$1,750,707	$1,029,156	+0.7%

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

Volunteers

140

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

$100,000

Total Directors

$100,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MEGAN HOWELL	EXECUTIVE DI	40.00	Officer Director	$100,000	$0	$100,000
CLAUDIA BARNETT	DIRECTOR	2.00	Director	$0	$0	$0
CHERI CORYEA	DIRECTOR	2.00	Director	$0	$0	$0
JAMES COX	DIRECTOR	2.00	Director	$0	$0	$0
JIM DOYLE	DIRECTOR	2.00	Director	$0	$0	$0
DAVID LYONS	DIRECTOR	2.00	Director	$0	$0	$0
ERIKA QUARTERMAINE	DIRECTOR	2.00	Director	$0	$0	$0
ROBERT W ROSINSKY	DIRECTOR	2.00	Director	$0	$0	$0
THOMAS TRYON	DIRECTOR	2.00	Director	$0	$0	$0
DAVID WELLE	DIRECTOR	2.00	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	$2,960,130	$1,209,423	$4,806,966	$1,750,707
2023	$1,893,085	$863,929	$3,196,630	$1,029,156
2022	$1,321,310	$619,430	$2,193,628	$701,880
2021	$1,159,715	$333,245	$1,699,598	$826,470
2021	$1,159,715	$333,245	$1,699,598	$826,470
2020	$315,883	$184,528	$614,893	$131,355

SECOND HEART HOMES INC