HERITAGE HOUSING PARTNERS

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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

1998

Legal Domicile

Principal Officer

CHARLES E LOVEMAN JR

Phone

6264034663

Tax Period

2023-01-01 to 2023-12-31

HERITAGE HOUSING PARTNERS, founded in 1998, is a mid-sized nonprofit in the Housing & Shelter sector that reported $43.2M in total revenue in fiscal year 2023. Revenue surged 2311% from the prior year, signaling strong growth momentum. Expenses of $38.7M left a modest 10% surplus.

Mission

TO PROMOTE HISTORIC PRESERVATION AND NEIGHBORHOOD REVITALIZATION BY DEVELOPING, OWNING, AND OPERATING RENTAL OR FOR SALE LOW-INCOME HOUSING PROPERTY.

Program Service Accomplishments

Program 1

Expenses: $38,584,489 Revenue: $40,546,187

THE ORGANIZATION WORKED ON THE PREDEVELOPMENT, REHABILITATION, AND NEW CONSTRUCTION OF OVER 250 UNITS SOLD PRIMARILY TO FIRST TIME LOW TO MODERATE INCOME HOME BUYERS IN PASADENA, CALIFORNIA.

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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 $2,585,547

Program Service Revenue $40,431,492

Investment Income $40,839

Other Revenue $114,695

TOTAL REVENUE $43,172,573

Expense Breakdown

Grants Paid $0

Salaries & Benefits $695,616

Fundraising Expenses $0

Program Expenses $38,584,489

Other Expenses $38,027,519

TOTAL EXPENSES $38,723,135

Year-over-Year Comparison

	2023	2022	Change
Revenue	$43,172,573	$1,790,509	+23.1%
Expenses	$38,723,135	$2,280,648	+16.0%
Net Income	$4,449,438	$-490,139	-10.1%

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

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

$219,357

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAVID RODRIGUEZ	PRESIDENT	2.50	Officer Director	$0	$0	$0
RICHARD BRUCKNER	1ST VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
JOHN MCAUSTIN	2ND VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
KAREN DAVIS	TREASURER	1.00	Officer Director	$0	$0	$0
NANCY SPEARS	SECRETARY	1.00	Officer Director	$0	$0	$0
ROBERT CARPENTER	BOARD MEMBER	1.00	Director	$0	$0	$0
ANTONIO MANNING	BOARD MEMBER	1.00	Director	$0	$0	$0
MERCEDES MARTIN	BOARD MEMBER	1.00	Director	$0	$0	$0
BLAIR MILLER	BOARD MEMBER	1.00	Director	$0	$0	$0
EMILY WARE	BOARD MEMBER	1.00	Director	$0	$0	$0
PATRICK CRANDALL	BOARD MEMBER	1.00	Director	$0	$0	$0
CHARLES LOVEMAN	EXECUTIVE DIRECTOR	40.00	Officer	$215,157	$4,200	$219,357
MARIANNE WILLIAMS	ACCOUNTANT	40.00	Highest	$102,051	$4,200	$106,251

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	$43,172,573	$38,723,135	$43,203,659	$4,449,438
2022	$1,790,509	$2,280,648	$63,829,840	$-490,139
2021	$3,328,873	$3,799,934	$46,963,988	$-471,061
2020	$11,960,042	$12,036,125	$35,195,641	$-76,083
2019	$1,301,324	$2,120,430	$29,479,179	$-819,106
2018	$17,287,387	$16,699,944	$21,803,137	$587,443