REDMOND ELDERLY HOUSING ASSOCIATION

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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

1985

Legal Domicile

Principal Officer

JILMA MENESES

Phone

2063285661

Tax Period

2024-07-01 to 2025-06-30

REDMOND ELDERLY HOUSING ASSOCIATION, founded in 1985, is a community nonprofit in the Housing & Shelter sector that reported $1.4M in total revenue in fiscal year 2024. Revenue surged 290% from the prior year, signaling strong growth momentum.

Mission

PROVIDE ELDERLY PERSONS & DISABLED PERSONS WITH HOUSING & SERVICES DESIGNED TO MEET THEIR NEEDS, & TO PROMOTE THEIR HEALTH, SECURITY, HAPPINESS & USEFULNESS IN LONGER LIVING.

Program Service Accomplishments

Program 1

Expenses: $1,465,665 Revenue: $39,918

REDMOND ELDERLY HOUSING ASSOCIATION WAS ORGANIZED TO ACQUIRE REAL PROPERTY LOCATED IN REDMOND, WASHINGTON, AND TO CONSTRUCT AND OPERATE THEREON A 32-UNIT APARTMENT COMPLEX, DBA EMMA MCREDMOND MANOR (THE PROJECT), TO PROVIDE AFFORDABLE HOUSING TO THE ELDERLY AND HANDICAPPED WHO QUALIFY FOR HOUSING ASSISTANCE PAYMENTS UNDER HUD SECTION 8.IN NOVEMBER 2024, ALL OPERATIONS, ASSETS AND LIABILITIES WERE TRANSFERRED TO A PARTNERSHIP THAT IS ALSO UNDER THE CONTROL OF THE ARCHIODECAN HOUSING AUTHORITY.

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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 $1,359,694

Program Service Revenue $39,918

Investment Income $3,725

Other Revenue $0

TOTAL REVENUE $1,403,337

Expense Breakdown

Grants Paid $1,349,814

Salaries & Benefits $38,505

Fundraising Expenses $0

Program Expenses $1,465,665

Other Expenses $79,357

TOTAL EXPENSES $1,467,676

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,403,337	$359,580	+2.9%
Expenses	$1,467,676	$323,374	+3.5%
Net Income	$-64,339	$36,206	-2.8%

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

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

$989,352

Total Directors

$696,376

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL REICHERT PRESIDENT	OF CCS/CHS (THROUGH FEB 2025)	1.00	Officer Director	$0	$32,271	$429,837
TIMOTHY MAY	VICE PRESIDENT & CFO	1.00	Officer	$0	$15,437	$292,976
COURTNEY SMITH	SECRETARY	1.00	Officer Director	$0	$20,187	$191,291
JEANNIE CRONE	CHAIR & TREASURER	1.00	Officer Director	$0	$4,774	$75,248
JILMA MENESES	PRESIDENT & CEO OF CCS/AHA/CCF	1.00	Officer Director	$0	$0	$0
PETER BERNAUER	BOARD MEMBER	1.00	Director	$0	$0	$0
JAMES DEFRANCO	BOARD MEMBER	1.00	Director	$0	$0	$0
JOHN HICKMAN	BOARD MEMBER	1.00	Director	$0	$0	$0
EDGARDO JOSE	BOARD MEMBER	1.00	Director	$0	$0	$0
GREG UNRUH	BOARD MEMBER	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	$1,403,337	$1,467,676	No data	$-64,339
2024	No data	No data	No data	No data
2023	$288,174	$334,821	$873,290	$-46,647
2022	$292,451	$293,277	$889,446	$-826
2021	$322,609	$303,952	$777,769	$18,657
2020	$320,477	$251,513	$778,692	$68,964
2019	$315,976	$253,314	$730,683	$62,662
2018	$290,512	$257,862	$668,415	$32,650