NORTH IOWA CORRIDOR HOUSING DEVELO… - 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

2022

Legal Domicile

Principal Officer

AARON BURNETT

Phone

6414230315

Tax Period

2024-07-01 to 2025-06-30

NORTH IOWA CORRIDOR HOUSING DEVELOPMENT CORPORATION, founded in 2022, is a micro nonprofit that reported $61K in total revenue in fiscal year 2024. Revenue fell 111% from the prior year — a significant decline worth monitoring.

Mission

DRIVING HOUSING GROWTH IN NORTH IOWA THROUGH STRATEGIC SITE IDENTIFICATION, COLLABORATIVE PLANNING AND STRONG CONNECTIONS WITH DEVELOPERS.

Program Service Accomplishments

Program 1

Expenses: $4,267

TO EXPAND THE INVENTORY OF QUALITY, ATTAINABLE HOUSING UNITS.

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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 $29,845

Program Service Revenue $0

Investment Income $0

Other Revenue $-91,018

TOTAL REVENUE $-61,173

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $4,267

Other Expenses $8,537

TOTAL EXPENSES $8,537

Year-over-Year Comparison

	2024	2023	Change
Revenue	$-61,173	$555,532	-1.1%
Expenses	$8,537	$106,751	-0.9%
Net Income	$-69,710	$448,781	-1.2%

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
AARON BURNETT	PRESIDENT	1.00	Officer Director	$0	$0	$0
SCOTT FLORY	VICE PRESIDE	1.00	Officer Director	$0	$0	$0
TOM MEYER	TREASURER	1.00	Officer Director	$0	$0	$0
MRYTLE NELSON	SECRETARY	1.00	Officer Director	$0	$0	$0
MELISSA SCHONEBERG	DIRECTOR	1.00	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
2025	$-61,173	$8,537	$563,524	$-69,710

NORTH IOWA CORRIDOR HOUSING DEVELOPMENT CORPORATION