Hendersonville Affordable Housing … - Form 990 Financial Data

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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

Diana Brow

Phone

8285959020

Tax Period

2022-10-01 to 2023-09-30

Hendersonville Affordable Housing Inc, founded in 2019, is a community nonprofit that reported $4.4M in total revenue in fiscal year 2022. Revenue surged 31% from the prior year, signaling strong growth momentum. Expenses of $4.0M left a modest 10% surplus.

Mission

The entity's purpose is to provide low and very low income persons with affordable housing in Hendersonville, NC. Effective 10/01/2020, the entity owns 352 units of housing that was Public Housing and is now converted under HUD's RAD program.

Program Service Accomplishments

Program 1

Expenses: $3,986,150

Provide housing for low and very low income individuals and families under HUD's Multi-Family program.

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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 (2022)

Revenue Breakdown

Contributions & Grants $1,339,815

Program Service Revenue $3,072,548

Investment Income $4,882

Other Revenue $0

TOTAL REVENUE $4,417,245

Expense Breakdown

Grants Paid $0

Salaries & Benefits $609,128

Fundraising Expenses $0

Program Expenses $3,986,150

Other Expenses $3,377,022

TOTAL EXPENSES $3,986,150

Year-over-Year Comparison

	2022	2021	Change
Revenue	$4,417,245	$3,371,317	+0.3%
Expenses	$3,986,150	$3,601,202	+0.1%
Net Income	$431,095	$-229,885	-2.9%

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

N/A

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
Ronnie Pepper	Chairman	Officer Director	$0	$0	$0
Garry Sherrill	Vice-Chariman	Officer Director	$0	$0	$0
Danny Williams	Director	Director	$0	$0	$0
Fair Waggoner	Director	Director	$0	$0	$0
Chris Denney	Director	Director	$0	$0	$0
Suzanne Sherrill	Director	Director	$0	$0	$0
Diana Brow	Executive Dir.	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	$4,417,245	$3,986,150	$15,144,911	$431,095
2022	$3,371,317	$3,601,202	$14,870,035	$-229,885

Hendersonville Affordable Housing Inc