DAVENPORT RESIDENCE INC C/O ELDERLY HOUSING MANAGEMENT INC

EIN: 060868436 501(c)(3)

NORTH HAVEN, CT

Total Revenue
$4,041,842
Total Expenses
$4,425,126
Total Assets
$14,640,449
Net Assets
$1,515,156
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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
1966
Legal Domicile
CT
Principal Officer
MICHAEL WOLAK
Phone
2032304809
Tax Period
2024-06-01 to 2025-05-31

DAVENPORT RESIDENCE INC C/O ELDERLY HOUSING MANAGEMENT INC, founded in 1966, is a community nonprofit that reported $4.0M in total revenue in fiscal year 2024.

Mission

TO PROVIDE FOR ELDERLY FAMILIES AND ELDERLY PERSONS, RENTAL HOUSING AND RELATED FACILITIES AND SERVICES ESPECIALLY DESIGNED TO MEET THE PHYSICAL, SOCIAL AND PSYCHOLOGICAL NEEDS OF THE AGED AND CONTRIBUTE TO THEIR HEALTH, SECURITY, HAPPINESS AND USEFULNESS IN LONGER LIVING.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,742,202
Program Service Revenue $2,136,058
Investment Income $115,464
Other Revenue $48,118
TOTAL REVENUE $4,041,842

Expense Breakdown

Grants Paid $0
Salaries & Benefits $642,322
Fundraising Expenses $0
Program Expenses $3,668,187
Other Expenses $3,782,804
TOTAL EXPENSES $4,425,126

Year-over-Year Comparison

2024 2023 Change
Revenue $4,041,842 $3,920,538 +0.0%
Expenses $4,425,126 $4,305,247 +0.0%
Net Income $-383,284 $-384,709 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

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Governance

Voting Members
11
Independent Members
11
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
4
$0
Total Directors
11
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MICHAEL WOLAK PRESIDENT 3.00
Officer Director
$0 $0 $0
SANDRA KOPS VICE PRESIDENT 3.00
Officer Director
$0 $0 $0
PRISCILLA BRADFORD SECRETARY 3.00
Officer Director
$0 $0 $0
C MICHAEL TUCKER TREASURER 3.00
Officer Director
$0 $0 $0
MARIA BORGES CORREIA DIRECTOR 3.00
Director
$0 $0 $0
JEAN DAVIS DIRECTOR 3.00
Director
$0 $0 $0
DAYNA DRAKE-WALKER DIRECTOR 3.00
Director
$0 $0 $0
PEGGY A GALLUP DIRECTOR 3.00
Director
$0 $0 $0
JANE KENNY DIRECTOR 3.00
Director
$0 $0 $0
MABEL PETERSON DIRECTOR 3.00
Director
$0 $0 $0
STEPHEN SIMONSON DIRECTOR 3.00
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
2025 $4,041,842 $4,425,126 $14,640,449 $-383,284
2024 $3,920,538 $4,305,247 $15,017,794 $-384,709
2023 $3,682,837 $3,883,271 $15,488,745 $-200,434
2022 $3,670,964 $3,713,424 $16,500,889 $-42,460
2021 $3,548,169 $3,390,086 $5,974,523 $158,083
2020 $3,350,986 $3,236,702 $5,929,832 $114,284
2019 $3,273,669 $3,321,729 $5,862,027 $-48,060
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