SPRINGBROOK APARTMENTS INC (EIN 161006160) - 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

1970

Legal Domicile

Principal Officer

MARK PALMER

Phone

3154519039

Tax Period

2023-04-01 to 2024-03-31

SPRINGBROOK APARTMENTS INC, founded in 1970, is a small nonprofit in the Housing & Shelter sector that reported $748K in total revenue in fiscal year 2023. Net assets of $2.4M represent 39 months of operating reserves.

Mission

HOUSING PROJECT FOR THE ELDERLY

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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 $729,596

Investment Income $17,909

Other Revenue $0

TOTAL REVENUE $747,505

Expense Breakdown

Grants Paid $0

Salaries & Benefits $79,644

Fundraising Expenses $0

Program Expenses $595,014

Other Expenses $732,665

TOTAL EXPENSES $812,309

Year-over-Year Comparison

	2023	2022	Change
Revenue	$747,505	$705,113	+0.1%
Expenses	$812,309	$798,886	+0.0%
Net Income	$-64,804	$-93,773	-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

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
CARL FALK	DIRECTOR	0.50	Director	$0	$0	$0
JACK JENNINGS	DIRECTOR	0.50	Director	$0	$0	$0
MARTIN SWITZER	1ST VICE PRESIDENT	0.50	Officer Director	$0	$0	$0
NANCY LICHTENSTEIN	CORP SECRETARY	0.50	Officer Director	$0	$0	$0
PAUL WILSON	DIRECTOR	0.50	Director	$0	$0	$0
ELAINE DELANEY	2ND VICE PRESIDENT	0.50	Officer Director	$0	$0	$0
NANCY SMITH	DIRECTOR	0.50	Director	$0	$0	$0
MARK PALMER	PRESIDENT	0.50	Officer Director	$0	$0	$0
FRANK GIACHETTI	DIRECTOR	0.50	Director	$0	$0	$0
JAN TIGHE	DIRECTOR	0.50	Director	$0	$0	$0
DONNA SWITZER	TREASURER	0.50	Officer Director	$0	$0	$0
KATHY ALLEN	RECORDING SECRETARY	0.50	Officer 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
2024	$747,505	$812,309	$2,538,021	$-64,804
2023	$705,113	$798,886	$2,577,325	$-93,773
2022	$669,690	$810,672	$2,670,256	$-140,982
2021	$672,720	$735,453	$2,809,404	$-62,733
2020	$706,704	$713,181	$2,872,366	$-6,477
2019	$688,500	$757,977	$2,874,522	$-69,477

SPRINGBROOK APARTMENTS INC