BERNARDINE APARTMENTS 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

1971

Legal Domicile

Principal Officer

KIMBERLY TOWNSEND

Phone

3154133206

Tax Period

2023-01-01 to 2023-12-31

BERNARDINE APARTMENTS INC, founded in 1971, is a community nonprofit in the Housing & Shelter sector that reported $1.5M in total revenue in fiscal year 2023. Revenue surged 40% from the prior year, signaling strong growth momentum. Expenses of $2.6M exceeded revenue, resulting in a 71% operating deficit.

Mission

THE ORGANIZATION CURRENTLY OWNS AND OPERATES AN APARTMENT BUILDING WHICH OFFERS 196 INDEPENDENT LIVING UNITS FOR THE ELDERLY.

Program Service Accomplishments

Program 1

Expenses: $2,086,009 Revenue: $1,468,451

BERNARDINE APARTMENTS, INC. IS AN AFFORDABLE SENIOR LIVING COMPLEX THAT PROVIDES AMENITIES FOR THE MOST ACTIVE OF INDEPENDENT SENIORS AS WELL AS OFFERING PROFESSIONAL, LONG-TERM CARE SERVICES THROUGH AN AFFILIATED ORGANIZATION FOR THOSE WHO MAY NEED THEM. THE ORGANIZATION PROVIDES A CONTINUUM OF CARE THAT ENABLES RESIDENTS TO AGE GRACEFULLY IN ONE PLACE WITHOUT NEEDING TO RELOCATE. THE BERNARDINE NOW FEATURES MANY NEWLY RENOVATED APARTMENTS SPECIFICALLY DESIGNED FOR THOSE WITH PHYSICAL CHALLENGES. THE FACILITY IS DIVIDED INTO NEIGHBORHOODS, WHICH PROVIDE RESIDENTS WITH A TRUE SENSE OF COMMUNITY.

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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 $50,674

Program Service Revenue $1,174,538

Investment Income $1,179

Other Revenue $293,913

TOTAL REVENUE $1,520,304

Expense Breakdown

Grants Paid $0

Salaries & Benefits $649,348

Fundraising Expenses $0

Program Expenses $2,086,009

Other Expenses $1,945,909

TOTAL EXPENSES $2,595,257

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,520,304	$1,088,232	+0.4%
Expenses	$2,595,257	$2,417,252	+0.1%
Net Income	$-1,074,953	$-1,329,020	-0.2%

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

$1,080,585

Total Directors

Key Employees

$1,089,025

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOHN MCCABE	BOARD MEMBER, CHAIR	1.00	Officer Director	$0	$0	$0
ROBERT J MARZELLA	BOARD MEMBER, VICE CHAIR	1.00	Officer Director	$0	$0	$0
JOHN R BRENNAN	BOARD MEMBER, SECRETARY	1.00	Officer Director	$0	$0	$0
VICKI O'NEILL	BOARD MEMBER	1.00	Director	$0	$0	$0
PIERRE MORRISSEAU	BOARD MEMBER	1.00	Director	$0	$0	$0
ELIZABETH QUILTER	BOARD MEMBER	1.00	Director	$0	$0	$0
CHRISTINE WOODCOCK DETTOR	BOARD MEMBER	1.00	Director	$0	$0	$0
MICHELE JONES GALVIN	BOARD MEMBER	1.00	Director	$0	$0	$0
JAY SUBEDI	BOARD MEMBER	1.00	Director	$0	$0	$0
KEVIN BRYANS	BOARD MEMBER	1.00	Director	$0	$0	$0
GWEN WEBBER-MCLEOD	BOARD MEMBER	1.00	Director	$0	$0	$0
STEPHEN J KINGSTON	BOARD MEMBER	1.00	Director	$0	$0	$0
SAM CARELLO	BOARD MEMBER	1.00	Director	$0	$0	$0
CRAIG LUCE	BOARD MEMBER	1.00	Director	$0	$0	$0
PETER MUSERLIAN	BOARD MEMBER	1.00	Director	$0	$0	$0
STEPHANIE CROCKETT	BOARD MEMBER	1.00	Director	$0	$0	$0
JOHN MURRAY	CFO	1.00	Officer	$0	$0	$305,507
KIMBERLY TOWNSEND	PRESIDENT	1.00	Officer	$0	$0	$775,078
BRANDON CLAPS	CIO	1.00	Key Emp	$0	$0	$210,362
JENNIFER INGERSON	VP OF HOUSING	1.00	Key Emp	$0	$0	$202,284
JOELLE MARGREY	CNO	1.00	Key Emp	$0	$0	$241,541
JULIE SHEEDY	VP OF MARKETING	1.00	Key Emp	$0	$0	$240,026
STEPHANIE BUTTON	VP OF LORETTO INDEPENDENT LIVING SERVICES, INC.	1.00	Key Emp	$0	$0	$194,812
HOLLY HOEHNER	VP GENERAL COUNSEL	1.00	Highest	$0	$0	$272,837

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	$1,520,304	$2,595,257	$10,599,014	$-1,074,953
2022	$1,088,232	$2,417,252	$11,667,401	$-1,329,020
2021	$1,183,692	$2,483,989	$13,108,012	$-1,300,297