INDOCHINESE HOUSING DEVELOPMENT CO… - 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

1981

Legal Domicile

Principal Officer

Mony Thach

Phone

4154412872

Tax Period

2024-01-01 to 2024-12-31

INDOCHINESE HOUSING DEVELOPMENT CORP, founded in 1981, is a community nonprofit in the Housing & Shelter sector that reported $1.3M in total revenue in fiscal year 2024. Revenue decreased 15% compared to the prior year.

Mission

THE INDOCHINESE HOUSING DEVELOPMENT CORPORATION (IHDC) IS A NON-PROFIT PUBLICBENEFIT CORPORATION, INCORPORATED IN CALIFORNIA IN 1981. THE MISSION OF IHDC IS TOHELP CREATE A VIBRANT AND DIGNIFIED COMMUNITY THROUGH THE PURCHASE, RENOVATION,MAINTENANCE AND MANAGEMENT OF SAFE, COMFORTABLE AND AFFORDABLE HOUSING. TO FOSTERCOMMUNITY SPIRIT, IHDC SEEKS TO: (1) ENCOURAGE PARTICIPATION, EMPOWERMENT ANDINDEPENDENCE IN THE LIVES OF ALL ASSOCIATED WITH THEM; (2) ORGANIZE IHDC ACTIVITIESUNDER TENANT PRIORITIES, DIRECTION AND INVOLVEMENT; AND (3) PROMOTE INDIGENOUSLEADERSHIP. IHDC PROVIDES HOUSING FOR RESIDENTS OF THE TENDERLOIN NEIGHBORHOOD OFSAN FRANCISCO WHOSE INCOMES ARE BELOW THE MEDIAN INCOME FOR THE SAN FRANCISCO AREA.IHDC SERVES PRIMARILY THE SOUTHEAST ASIAN IMMIGRANT COMMUNITY. OVER THE YEARS IHDCPROGRAMS HAVE DEVELOPED IN RESPONSE TO THE NEEDS OF THE RESIDENTS AND THE COMMUNITY.IHDC OFFERS A NUMBER OF PROGRAMS FOR ALL AGES.

Program Service Accomplishments

Program 1

Expenses: $1,199,504 Revenue: $1,009,170

IHDC OWNS AND OPERATE TWO APARTMENT BUILDINGS IN SAN FRANCISCO: AN 82 UNIT BUILDINGAND A 35 UNIT BUILDING. THE BUILDINGS WERE FINANCED BY A COMBINATION OF FOUNDATIONLOANS, PRIVATE FINANCING AND...

IHDC OWNS AND OPERATE TWO APARTMENT BUILDINGS IN SAN FRANCISCO: AN 82 UNIT BUILDINGAND A 35 UNIT BUILDING. THE BUILDINGS WERE FINANCED BY A COMBINATION OF FOUNDATIONLOANS, PRIVATE FINANCING AND COMMUNITY DEVELOPMENT BLOCK GRANT SITE ACQUISITIONFUNDS. IHDC PROVIDES HOUSING FOR RESIDENTS OF THE TENDERLOIN NEIGHBORHOOD OF SANFRANCISCO WHOSE INCOMES ARE BELOW THE MEDIAN INCOME FOR THE SAN FRANCISCO AREA. IHDCSERVES PRIMARILY THE SOUTHEAST ASIAN IMMIGRANT COMMUNITY. TO FOSTER COMMUNITY SPIRIT,IHDC SEEKS TO ENCOURAGE PARTICIPATION, EMPOWERMENT AND INDEPENDENCE IN THE LIVES OF ALL ASSOCIATED WITH IHDC, ORGANIZE IHDC ACTIVITIES UNDER TENANT PRIORITIES, DIRECTION AND INVOLVEMENT; AND PROMOTE INDIGENOUS LEADERSHIP. OVER THE YEARS IHDC PROGRAMS HAVE DEVELOPED IN RESPONSE TO THE NEEDS OF THE RESIDENTS AND THE COMMUNITY.

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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 $267,657

Program Service Revenue $1,009,170

Investment Income $28,272

Other Revenue $1,200

TOTAL REVENUE $1,306,299

Expense Breakdown

Grants Paid $0

Salaries & Benefits $510,060

Fundraising Expenses $0

Program Expenses $1,199,504

Other Expenses $825,262

TOTAL EXPENSES $1,335,322

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,306,299	$1,544,963	-0.2%
Expenses	$1,335,322	$1,431,555	-0.1%
Net Income	$-29,023	$113,408	-1.3%

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

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
TOM HEATH	Executive Dir.	40.00		$61,398	$0	$61,398
Mony Thach	Executive Dir.	40.00	Officer Director	$0	$0	$0
Tinara Choing	Treasurer	4.00	Officer Director	$0	$0	$0
DIN HO	Director	1.00	Director	$0	$0	$0
THEARY LEN	Director	1.00	Director	$0	$0	$0
FANG WEN LIAO	Director	1.00	Director	$0	$0	$0
JENNY CHEA VAING	Director	1.00	Director	$0	$0	$0
TEVEA HIM SAUNDERS	Director	1.00	Director	$0	$0	$0
YULIANTY TJONG	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	$1,306,299	$1,335,322	$3,800,432	$-29,023
2023	$1,544,963	$1,431,555	$3,727,879	$113,408
2022	$1,173,740	$1,350,213	$3,520,746	$-176,473
2021	$1,331,155	$1,390,531	$3,731,902	$-59,376
2020	$1,165,515	$1,052,898	$3,824,346	$112,617
2019	$1,216,123	$1,187,783	$3,697,315	$28,340
2018	$1,042,687	$1,132,483	$3,585,805	$-89,796

INDOCHINESE HOUSING DEVELOPMENT CORP