RICHARDVILLE APARTMENTS INC (EIN 050543940) - 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

THOMAS MINNICH

Phone

2604812700

Tax Period

2024-07-01 to 2025-06-30

RICHARDVILLE APARTMENTS INC, founded in 2002, is a small nonprofit in the Housing & Shelter sector that reported $118K in total revenue in fiscal year 2024. Revenue grew 18% year-over-year, indicating healthy expansion. Expenses of $154K exceeded revenue, resulting in a 31% operating deficit.

Mission

PROVIDE HOUSING TO HANDICAPPED INDIVIDUALS.

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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 $116,472

Investment Income $12

Other Revenue $1,053

TOTAL REVENUE $117,537

Expense Breakdown

Grants Paid $0

Salaries & Benefits $20,258

Fundraising Expenses $0

Program Expenses $109,641

Other Expenses $133,901

TOTAL EXPENSES $154,159

Year-over-Year Comparison

	2024	2023	Change
Revenue	$117,537	$99,724	+0.2%
Expenses	$154,159	$133,176	+0.2%
Net Income	$-36,622	$-33,452	+0.1%

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

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

$843,780

Total Directors

$1,695,092

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BRET CLAGHORN	SECRETARY/TREASURER	1.00	Officer Director	$0	$71,704	$388,434
TIM GALL	DIRECTOR	1.00	Director	$0	$0	$0
BROOKE LOCKHART	VICE PRESIDENT	1.00	Officer Director	$0	$18,571	$159,656
THOMAS MINNICH	PRESIDENT	1.00	Officer Director	$0	$50,940	$295,690
CLARK JONES	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL BURCROFF	DIRECTOR	1.00	Director	$0	$56,433	$206,908
AHSAN MAHMOOD	DIRECTOR	1.00	Director	$0	$57,373	$508,135
CHRISTINE KELTY	DIRECTOR	1.00	Director	$0	$36,748	$136,269
CHARLES CLARK	FORMER OFFICER	0.00		$0	$0	$168,376
RICHARD HITE	FORMER OFFICER	0.00		$0	$19,244	$156,709
CONNIE KERRIGAN	FORMER OFFICER	0.00		$0	$13,710	$134,405

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	$117,537	$154,159	$632,831	$-36,622
2024	$99,724	$133,176	$671,214	$-33,452
2023	$98,944	$121,729	$687,480	$-22,785
2022	$91,675	$100,112	$709,546	$-8,437
2021	$94,609	$105,281	$723,184	$-10,672
2020	$78,652	$99,377	$739,210	$-20,725
2019	$74,353	$96,526	$752,852	$-22,173

RICHARDVILLE APARTMENTS INC