MARIN COUNTY HOUSING DEVELOPMENT F… - 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

1979

Legal Domicile

Principal Officer

KIMBERLY CAROLL

Phone

4154912525

Tax Period

2024-01-01 to 2024-12-31

MARIN COUNTY HOUSING DEVELOPMENT FINANCING CORPORATION, founded in 1979, is a small nonprofit that reported $474K in total revenue in fiscal year 2024. The organization ran a surplus of $193K, a strong 41% operating margin.

Mission

TO PROVIDE ASSISTANCE TO THE HOUSING AUTHORITY OF THE COUNTY OF MARIN, CALIFORNIA, BY FINANCING OR CARRYING OUT THE ACQUISITION, CONSTRUCTION, REHABILITATION, REMODELING, AND EQUIPPING OF RENTAL HOUSING UNITS FOR PERSONS OF LOW INCOME ON SITES LOCATED WITHIN THE COUNTY OF MARIN. THIS CORPORATION OWNS A 15-UNIT HOUSING DEVELOPMENT, KNOWN AS BRADLEY HOUSE, LOCATED IN TIBURON, CA.

Program Service Accomplishments

Program 1

Expenses: $241,852 Revenue: $398,138

THE MAJORITY OF REVENUE IS FROM RENTAL ACTIVITY FROM A 15-UNIT PROPERTY LOCATED IN TIBURON, CA. EXPENSES INCLUDE MANAGEMENT FEES, SALARIES AND BENEFITS FOR A PROPERTY MANAGER AND MAINTENANCE STAFF...

THE MAJORITY OF REVENUE IS FROM RENTAL ACTIVITY FROM A 15-UNIT PROPERTY LOCATED IN TIBURON, CA. EXPENSES INCLUDE MANAGEMENT FEES, SALARIES AND BENEFITS FOR A PROPERTY MANAGER AND MAINTENANCE STAFF, UTILITIES, INSURANCE, GARBAGE, LANDSCAPING, PROPERTY REPAIRS, AND DEPRECIATION.

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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 $398,138

Investment Income $50,822

Other Revenue $25,022

TOTAL REVENUE $473,982

Expense Breakdown

Grants Paid $0

Salaries & Benefits $62,886

Fundraising Expenses $0

Program Expenses $241,852

Other Expenses $218,480

TOTAL EXPENSES $281,366

Year-over-Year Comparison

	2024	2023	Change
Revenue	$473,982	$456,999	+0.0%
Expenses	$281,366	$238,061	+0.2%
Net Income	$192,616	$218,938	-0.1%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JEFF KELLY	DIRECTOR	1.00	Director	$0	$0	$0
KIMBERLY CARROLL	EXECUTIVE DIRECTOR	2.00	Director	$0	$0	$0
KIM DOLAN	DIRECTOR	1.00	Director	$0	$0	$0
DAVE LATINA	DIRECTOR	1.00	Director	$0	$0	$0
PAUL CUMMINGS	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL WILLIS	DIRECTOR	1.00	Director	$0	$0	$0
CAROLYN HOFFMAN	DIRECTOR	1.00	Director	$0	$0	$0
TOM DELOYE	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
2024	$473,982	$281,366	$2,436,151	$192,616
2023	$456,999	$238,061	$2,320,682	$218,938
2022	$436,639	$229,626	$2,062,455	$207,013
2021	$427,533	$263,252	$1,816,810	$164,281
2020	$395,785	$258,749	$1,674,097	$137,036

MARIN COUNTY HOUSING DEVELOPMENT FINANCING CORPORATION