HOUSING OPPORTUNITIES OF SALEM INC (EIN 922561529) - 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

2023

Legal Domicile

Principal Officer

Cathy Sheehan

Phone

6172240621

Tax Period

2024-01-01 to 2024-12-31

HOUSING OPPORTUNITIES OF SALEM INC, founded in 2023, is a small nonprofit in the Housing & Shelter sector that reported $341K in total revenue in fiscal year 2024. The organization ran a surplus of $300K, a strong 88% operating margin.

Mission

To develop and sustain affordable and low-income housing and to provide related resident services within such housing facilities which are consistent with community needs and desires of the people in the Greater Salem area in Massachusetts.

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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 $0

Program Service Revenue $333,506

Investment Income $7,292

Other Revenue $0

TOTAL REVENUE $340,798

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $40,471

Other Expenses $40,471

TOTAL EXPENSES $40,471

Year-over-Year Comparison

	2024	2023	Change
Revenue	$340,798	N/A	N/A
Expenses	$40,471	N/A	N/A
Net Income	$300,327	$0	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

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
Romell Kidd	Treasurer/Director	1	Officer Director	$0	$0	$0
Aaron Paternoster	Chair/Director	1	Officer Director	$0	$0	$0
Emily Ullman	Vice Chair/Director	1	Officer Director	$0	$0	$0
Veronica Miranda	Director	1	Director	$0	$0	$0
Doneeca Thurston-Chavez	Second Vice Chair/Director	1	Officer Director	$0	$0	$0
Cathy Sheehan	President/Clerk	1	Officer	$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
2024	$340,798	$40,471	$8,095,949	$300,327

HOUSING OPPORTUNITIES OF SALEM INC