MARIN HOUSING DEVELOPMENT CORPORAT… - 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 CARROLL

Phone

4154912525

Tax Period

2024-01-01 to 2024-12-31

MARIN HOUSING DEVELOPMENT CORPORATION, founded in 1979, is a small nonprofit in the Housing & Shelter sector that reported $718K in total revenue in fiscal year 2024. Revenue grew 11% year-over-year, indicating healthy expansion. The organization ran a surplus of $199K, a strong 28% operating margin.

Mission

MARIN HOUSING DEVELOPMENT CORPORATION WAS ESTABLISHED TO MAINTAIN, IMPROVE, AND INCREASE THE SUPPLY OF AFFORDABLE HOUSING IN THE COUNTY OF MARIN, CA, BY FINANCING OR CARRYING OUT THE ACQUISITION, CONSTRUCTION, REHABILITATION, REMODELING, AND EQUIPPING OF HOUSING UNITS FOR PERSONS OF LOW-INCOME. THIS CORPORATION OWNS A 28-UNIT HOUSING DEVELOPMENT, KNOWN AS SUNDANCE.

Program Service Accomplishments

Program 1

Expenses: $447,186 Revenue: $677,453

THE MAJORITY OF REVENUE IS FROM RENTAL ACTIVITY FOR THE 28-UNIT PROPERTY LOCATED IN SAN RAFAEL, CA.EXPENSES INCLUDE MANAGEMENT FEES, SALARIES AND BENEFITS FOR A PROPERTY MANAGER, UTILITIES...

THE MAJORITY OF REVENUE IS FROM RENTAL ACTIVITY FOR THE 28-UNIT PROPERTY LOCATED IN SAN RAFAEL, CA.EXPENSES INCLUDE MANAGEMENT FEES, SALARIES AND BENEFITS FOR A PROPERTY MANAGER, UTILITIES, INSURANCE, GARBAGE, LANDSCAPING, PROPERTY REPAIRS, DEBT SERVICE INTEREST, 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 $677,453

Investment Income $25,205

Other Revenue $15,146

TOTAL REVENUE $717,804

Expense Breakdown

Grants Paid $0

Salaries & Benefits $69,561

Fundraising Expenses $0

Program Expenses $447,186

Other Expenses $448,849

TOTAL EXPENSES $518,410

Year-over-Year Comparison

	2024	2023	Change
Revenue	$717,804	$648,409	+0.1%
Expenses	$518,410	$643,918	-0.2%
Net Income	$199,394	$4,491	+43.4%

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
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
TOM DELOYE	DIRECTOR	1.00	Director	$0	$0	$0
CAROLYN HOFFMAN	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	$717,804	$518,410	$2,367,587	$199,394
2023	$648,409	$643,918	$2,381,882	$4,491
2022	$664,844	$625,463	$2,301,661	$39,381
2021	$665,727	$511,543	$2,204,103	$154,184
2020	$599,619	$461,561	$2,070,489	$138,058

MARIN HOUSING DEVELOPMENT CORPORATION