FRIENDLY TEMPLE APARTMENTS II 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

2007

Legal Domicile

Principal Officer

JOSEPH GIRARDI

Phone

3147260111

Tax Period

2024-01-01 to 2024-12-31

FRIENDLY TEMPLE APARTMENTS II INC, founded in 2007, is a small nonprofit in the Housing & Shelter sector that reported $316K in total revenue in fiscal year 2024. Revenue fell 40% from the prior year — a significant decline worth monitoring. Expenses of $592K exceeded revenue, resulting in a 88% operating deficit.

Mission

LOW INCOME HOUSING

Program Service Accomplishments

Program 1

Expenses: $494,606 Revenue: $310,495

FRIENDLY TEMPLE APARTMENTS II IS A NONPROFIT CORPORATION ESTABLISHED TO PROVIDE ELDERLY AND DISABLED PERSONS WITH HOUSING UTILIZING FUNDS PROVIDED BY A CAPITAL ADVANCE UNDER SECTION 202 OF THE...

FRIENDLY TEMPLE APARTMENTS II IS A NONPROFIT CORPORATION ESTABLISHED TO PROVIDE ELDERLY AND DISABLED PERSONS WITH HOUSING UTILIZING FUNDS PROVIDED BY A CAPITAL ADVANCE UNDER SECTION 202 OF THE NATIONAL HOUSING ACT OF 1959, AS AMENDED. THE CAPITAL ADVANCE REQUIREMENTS ARE IN COMPLIANCE WITH THE PROVISIONS OF THE ACT.

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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 $310,495

Investment Income $1,649

Other Revenue $3,779

TOTAL REVENUE $315,923

Expense Breakdown

Grants Paid $0

Salaries & Benefits $97,117

Fundraising Expenses $0

Program Expenses $494,606

Other Expenses $495,377

TOTAL EXPENSES $592,494

Year-over-Year Comparison

	2024	2023	Change
Revenue	$315,923	$528,083	-0.4%
Expenses	$592,494	$672,759	-0.1%
Net Income	$-276,571	$-144,676	+0.9%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CARLENE DAVIS	BOARD MEMBER	1.00	Director	$0	$0	$0
BELINDA FARRINGTON	BOARD MEMBER	1.00	Director	$0	$0	$0
DEACON JAMES JOINER	BOARD MEMBER	1.00	Director	$0	$0	$0
BISHOP MICHAEL JONES	CHAIR	1.00	Officer Director	$0	$0	$0
THEODORE WINTERS	BOARD MEMBER	1.00	Director	$0	$0	$0
JOSEPH GIRARDI	CFO	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	$315,923	$592,494	$3,638,854	$-276,571
2023	$528,083	$672,759	$3,944,984	$-144,676
2022	$388,524	$494,546	$3,979,167	$-106,022
2021	$378,271	$498,988	$4,098,332	$-120,717
2020	$302,772	$437,678	$4,197,745	$-134,906
2019	$373,550	$402,135	$4,356,016	$-28,585
2018	$312,592	$429,327	$4,375,405	$-116,735