ALTUS REALTY INC (EIN 030396397) - Form 990 Financial Analysis & Trantor Score

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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

2002

Legal Domicile

Principal Officer

RICHARD A FRITZ

Phone

4017526000

Tax Period

2023-01-01 to 2023-12-31

ALTUS REALTY INC, founded in 2002, is a community nonprofit in the Community Improvement sector that reported $1.3M in total revenue in fiscal year 2023. Expenses of $1.3M left a modest 3% surplus.

Mission

TITLE HOLDING COMPANY OPERATING TO MANAGE THE REAL AND PERSONAL PROPERTY (SEE SCHEDULE O) OF DELTA DENTAL OF RHODE ISLAND.

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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 $0

Program Service Revenue $1,304,201

Investment Income $24,025

Other Revenue $0

TOTAL REVENUE $1,328,226

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $1,284,779

TOTAL EXPENSES $1,284,779

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,328,226	$1,374,735	0.0%
Expenses	$1,284,779	$1,329,725	0.0%
Net Income	$43,447	$45,010	0.0%

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

$1,876,658

Total Directors

$178,500

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOSEPH R PERRONI	CEO & PRESIDENT	1.00	Officer	$0	$70,181	$879,358
RICHARD A FRITZ	SR VP FINANCE & CFO	1.00	Officer	$0	$64,551	$560,672
GEORGE J BEDARD	CONTROLLER (THRU 12/23)	1.00	Officer	$0	$41,410	$212,532
MELISSA GENNARI	AVP & DIRECTOR COMPLIANCE	1.00	Officer	$0	$18,766	$189,146
JOSEPH NAGLE	FORMER PRESIDENT & CEO (THRU 6/2019)	0.00		$0	$0	$123,562
JOHN T RUGGIERI	CHAIR	1.00	Officer Director	$0	$0	$19,950
JAMES V ROSATI	VICE CHAIR	1.00	Officer Director	$0	$0	$15,000
MARC A PAULHUS	DIRECTOR	1.00	Director	$0	$0	$14,400
STEVEN ISSA	DIRECTOR	1.00	Director	$0	$0	$13,800
EDWIN J SANTOS	DIRECTOR	1.00	Director	$0	$0	$12,600
COLIN P KANE	DIRECTOR	1.00	Director	$0	$0	$12,000
JONATHAN W HALL	DIRECTOR	1.00	Director	$0	$0	$11,400
JUNIOR JABBIE	DIRECTOR	1.00	Director	$0	$0	$10,800
HEATHER A PROVINO	DIRECTOR	1.00	Director	$0	$0	$10,800
ELIZABETH CATUCCI	DIRECTOR	1.00	Director	$0	$0	$10,200
PETE HAYES	DIRECTOR	1.00	Director	$0	$0	$9,900
MARK SHAW	DIRECTOR	1.00	Director	$0	$0	$9,600
DR THOMAS ENRIGHT	VICE CHAIR	1.00	Director	$0	$0	$9,000
CHRISTINE GADBOIS	DIRECTOR	1.00	Director	$0	$0	$9,000
FRANCIS J FLYNN	DIRECTOR	1.00	Director	$0	$0	$7,050
MICHAEL F SABITONI	DIRECTOR (AS OF 04/23)	1.00	Director	$0	$0	$3,000
WILLIAM LANDRY	SECRETARY	1.00	Officer	$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	No data	No data	No data	No data
2023	$1,328,226	$1,284,779	$4,693,477	$43,447
2022	$1,374,735	$1,329,725	$3,792,494	$45,010
2021	$1,673,799	$1,342,940	$3,991,213	$330,859
2020	$1,929,073	$1,336,517	$4,360,825	$592,556
2019	$2,042,122	$1,587,583	$4,512,941	$454,539
2018	$1,988,240	$1,596,913	$4,946,331	$391,327

ALTUS REALTY INC