RTS Affordable Housing Corp

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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

2021

Legal Domicile

Principal Officer

Connie Stewart

Phone

8285959020

Tax Period

2021-10-01 to 2022-09-30

RTS Affordable Housing Corp, founded in 2021, is a small nonprofit that reported $216K in total revenue in fiscal year 2021. Expenses of $338K exceeded revenue, resulting in a 57% operating deficit.

Mission

The entity's purpose is to provide low and very low income persons with affordable housing in Hendersonville, NC. Effective 10/01/2021, the entity owns 12 units of housing that was Public Housing and is now converted under HUD's RAD program.

Program Service Accomplishments

Program 1

Expenses: $338,252

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 (2021)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $215,802

Investment Income $46

Other Revenue $0

TOTAL REVENUE $215,848

Expense Breakdown

Grants Paid $0

Salaries & Benefits $64,532

Fundraising Expenses $0

Program Expenses $338,252

Other Expenses $273,720

TOTAL EXPENSES $338,252

Year-over-Year Comparison

	2021	2020	Change
Revenue	$215,848	N/A	N/A
Expenses	$338,252	N/A	N/A
Net Income	$-122,404	N/A	N/A

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	Hours/Week	Role	Reportable Comp	Other Comp	Total
Connie Stewart	Executive Dir.	5.00	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
2022	$215,848	$338,252	$728,879	$-122,404