Rural Housing Development Corporation (EIN 870622732) - 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

1998

Legal Domicile

Principal Officer

Brad Bishop

Phone

8013752205

Tax Period

2024-10-01 to 2025-09-30

Rural Housing Development Corporation, founded in 1998, is a community nonprofit in the Housing & Shelter sector that reported $6.3M in total revenue in fiscal year 2024. Revenue surged 120% from the prior year, signaling strong growth momentum. The organization ran a surplus of $4.1M, a strong 65% operating margin.

Mission

To provide quality affordable housing opportunities to individuals and families living in Utah.

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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 $1,262,882

Program Service Revenue $37,238

Investment Income $155,835

Other Revenue $4,853,780

TOTAL REVENUE $6,309,735

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,862,196

Fundraising Expenses $22,033

Program Expenses $1,637,932

Other Expenses $341,517

TOTAL EXPENSES $2,203,713

Year-over-Year Comparison

	2024	2023	Change
Revenue	$6,309,735	$2,866,278	+1.2%
Expenses	$2,203,713	$2,148,113	+0.0%
Net Income	$4,106,022	$718,165	+4.7%

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

350

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

$455,903

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Scott Wyckoff	President	5.00	Officer Director	$0	$0	$0
David Rowley	Vice President	3.00	Director	$0	$0	$0
Lynell Smith	Secretary/Treasurer	3.00	Officer Director	$0	$0	$0
Sarah Campbell Esq	Trustee	3.00	Director	$0	$0	$0
Jeremy Depain	Trustee	3.00	Director	$0	$0	$0
Ben Holdaway	Trustee	3.00	Director	$0	$0	$0
Brad Bishop	Executive Director	40.00	Officer	$235,855	$66,022	$301,877
Socorro Espinoza	Accounting Mgr	40.00	Officer	$121,270	$32,756	$154,026
Geoffrey Bluth	Dir. of Development	40.00	Highest	$181,184	$59,576	$240,760
Joshua Walker	Dir, of Construction	40.00	Highest	$154,616	$47,212	$201,828
Jeremy Phelps	Lead Construction Supervisor	40.00	Highest	$100,621	$31,788	$132,409

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	$6,309,735	$2,203,713	$38,755,065	$4,106,022
2024	$2,866,278	$2,148,113	$32,365,254	$718,165
2023	$2,315,219	$2,161,149	$33,474,837	$154,070
2022	$2,710,325	$2,214,547	$31,533,025	$495,778
2021	$4,698,505	$2,088,818	$29,754,562	$2,609,687
2020	$4,475,390	$1,906,003	$24,614,391	$2,569,387
2019	$1,829,890	$1,765,990	$18,238,427	$63,900
2018	$4,257,315	$1,607,327	$19,443,809	$2,649,988

Rural Housing Development Corporation