HOUSING SOLUTIONS INC

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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

1986

Legal Domicile

Principal Officer

MICHAEL CURTIS

Phone

8082710880

Tax Period

2024-07-01 to 2025-06-30

HOUSING SOLUTIONS INC, founded in 1986, is a community nonprofit that reported $2.9M in total revenue in fiscal year 2024. Expenses of $3.6M exceeded revenue, resulting in a 24% operating deficit.

Mission

TO PROMOTE PROGRAMS LEADING TO SELF-SUFFICIENCY FOR HAWAII'S HOMELESS THROUGH THE DEVELOPMENT AND MANAGEMENT OF TRANSITIONAL AND AFFORDABLE LONG-TERM HOUSING.

Program Service Accomplishments

Program 1

Expenses: $1,805,253 Revenue: $1,340,852

PERMANENT HOUSING - INCLUDES SEA WIND & WEINBERG HALE APARTMENT BUILDINGS DEVELOPED AND PURCHASED BY THE ORGANIZATION TO PROVIDE LONG-TERM, AFFORDABLE RENTAL HOUSING FOR LOW-INCOME PERSONS. ALSO...

PERMANENT HOUSING - INCLUDES SEA WIND & WEINBERG HALE APARTMENT BUILDINGS DEVELOPED AND PURCHASED BY THE ORGANIZATION TO PROVIDE LONG-TERM, AFFORDABLE RENTAL HOUSING FOR LOW-INCOME PERSONS. ALSO INCLUDES THE ISLAND WEST APARTMENTS FOR WHICH THE ORGANIZATION PROVIDES BUILDING AND PROGRAM MANAGEMENT SERVICES. SERVED APPROXIMATELY 923 PERSONS.

Program 2

Expenses: $1,498,019 Revenue: $1,455,660

TRANSITIONAL HOUSING - INCLUDES SEA WIND & LOLIANA APARTMENTS, VANCOUVER HOUSE, AND EDWIN THOMAS HOME THAT PROVIDE TRANSITIONAL HOUSING FACILITIES FOR FAMILIES AND INDIVIDUALS WHO ARE HOMELESS AND IN...

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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 $57,354

Program Service Revenue $2,807,812

Investment Income $0

Other Revenue $0

TOTAL REVENUE $2,865,166

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,221,088

Fundraising Expenses $0

Program Expenses $3,303,272

Other Expenses $2,340,329

TOTAL EXPENSES $3,561,417

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,865,166	$2,951,512	0.0%
Expenses	$3,561,417	$3,495,057	+0.0%
Net Income	$-696,251	$-543,545	+0.3%

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

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

$221,333

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL CURTIS	CHAIR	1.00	Officer Director	$0	$0	$0
RIK PAPA	SECRETARY	1.00	Officer Director	$0	$0	$0
CHRISTOPHER ABBOTT	TREASURER	1.00	Officer Director	$0	$0	$0
GAYE JOHNSTON	PRESIDENT	40.00	Officer	$203,261	$18,072	$221,333
LISA LO	DIRECTOR OF ADMIN	40.00	Highest	$152,935	$23,257	$176,192
SHANELLE LUM	GENERAL MANAGER	40.00	Highest	$102,837	$16,670	$119,507
CHRISTINE GERSON	MANAGER	40.00	Highest	$100,011	$8,711	$108,722

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
2025	$2,865,166	$3,561,417	$14,893,276	$-696,251
2024	$2,951,512	$3,495,057	$15,605,244	$-543,545
2023	$2,739,517	$3,234,345	$16,160,746	$-494,828
2022	$10,529,099	$9,919,298	$17,961,424	$609,801
2021	$5,662,094	$3,838,246	$18,291,440	$1,823,848
2020	$2,896,879	$3,531,243	$18,536,088	$-634,364
2019	$3,513,843	$3,609,427	$19,189,443	$-95,584
2018	$3,272,860	$3,531,923	$19,437,667	$-259,063