INTERCOMMUNITY HOUSING FERNDALE

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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

1994

Legal Domicile

Principal Officer

JOSEPH THOMPSON

Phone

3038303300

Tax Period

2023-01-01 to 2023-12-31

INTERCOMMUNITY HOUSING FERNDALE, founded in 1994, is a small nonprofit in the Housing & Shelter sector that reported $343K in total revenue in fiscal year 2023. Expenses of $448K exceeded revenue, resulting in a 31% operating deficit.

Mission

OWN AND OPERATE A 30-UNIT APARTMENT PROJECT LOCATED IN FERNDALE, WASHINGTON THAT PROVIDES HOUSING, EDUCATIONAL, AND SUPPORTIVE SERVICES TO LOW INCOME, DISADVANTAGED, AND HOMELESS PERSONS

Program Service Accomplishments

Program 1

Expenses: $435,650 Revenue: $143,712

INTERCOMMUNITY HOUSING FERNDALE WAS ORGANIZED ON DECEMBER 19, 1994 AS A WASHINGTON NON-STOCK, NONPROFIT CORPORATION FOR THE PURPOSE OF CONSTRUCTING AND OPERATING A RENTAL HOUSING PROJECT UNDER...

INTERCOMMUNITY HOUSING FERNDALE WAS ORGANIZED ON DECEMBER 19, 1994 AS A WASHINGTON NON-STOCK, NONPROFIT CORPORATION FOR THE PURPOSE OF CONSTRUCTING AND OPERATING A RENTAL HOUSING PROJECT UNDER SECTION 236 OF THE NATIONAL HOUSING ACT AND SECTION 220(D)(3A). SUCH PROJECTS ARE REGULATED BY HUD AS TO RENT CHARGES AND OPERATING METHODS. THE PROJECT CONSISTS OF 30 UNITS LOCATED IN FERNDALE, WASHINGTON AND IS CURRENTLY OPERATING UNDER THE NAME OF FERNDALE SQUARE.

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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 (2023)

Revenue Breakdown

Contributions & Grants $196,109

Program Service Revenue $137,165

Investment Income $2,771

Other Revenue $6,547

TOTAL REVENUE $342,592

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $435,650

Other Expenses $448,350

TOTAL EXPENSES $448,350

Year-over-Year Comparison

	2023	2022	Change
Revenue	$342,592	$337,229	+0.0%
Expenses	$448,350	$392,114	+0.1%
Net Income	$-105,758	$-54,885	+0.9%

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

$1,311,671

Total Directors

$578,918

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
COLIN MORGAN-CROSS	VICE PRESIDENT/DIRECTOR	1.00	Officer Director	$0	$12,236	$194,690
JOSEPH THOMPSON	PRESIDENT/DIRECTOR	1.00	Officer Director	$0	$42,779	$277,680
SHERIF AZAB	VICE PRESIDENT/DIRECTOR (UNTIL 6/23)	1.00	Officer Director	$0	$1,425	$57,012
MENA PEEBLES	VICE PRESIDENT/DIRECTOR	1.00	Officer Director	$0	$6,413	$49,536
CHAD PAYNE	TREASURER	1.00	Officer	$0	$8,496	$200,685
JOSEPH ROSENBLUM	SECRETARY	1.00	Officer	$0	$10,201	$232,549
MELISSA CLAYTON	VICE PRESIDENT	1.00	Officer	$0	$33,798	$299,519

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	$342,592	$448,350	$1,332,999	$-105,758
2022	$337,229	$392,114	$1,466,256	$-54,885
2021	$339,410	$434,734	$1,559,985	$-95,324
2020	$311,177	$425,755	$1,525,869	$-114,578
2019	$317,113	$424,896	$1,721,461	$-107,783
2018	$303,586	$394,014	$1,785,370	$-90,428