FAITH RESIDENCE APARTMENTS INC (EIN 200423817) - Form 990 Financial Analysis & Trantor Score

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

2003

Legal Domicile

Principal Officer

MARK HAYES

Phone

9528736000

Tax Period

2023-10-01 to 2024-09-30

FAITH RESIDENCE APARTMENTS INC, founded in 2003, is a micro nonprofit in the Housing & Shelter sector that reported $92K in total revenue in fiscal year 2023. Revenue grew 20% year-over-year, indicating healthy expansion. Expenses of $119K exceeded revenue, resulting in a 29% operating deficit.

Mission

PROVIDE AFFORDABLE HOUSING FOR PERSONS WITH DISABILITIES IN BELLE PLAINE, MN.

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $83,531

Investment Income $188

Other Revenue $7,917

TOTAL REVENUE $91,636

Expense Breakdown

Grants Paid $0

Salaries & Benefits $20,875

Fundraising Expenses $0

Program Expenses $75,091

Other Expenses $97,786

TOTAL EXPENSES $118,661

Year-over-Year Comparison

	2023	2022	Change
Revenue	$91,636	$76,371	+0.2%
Expenses	$118,661	$117,764	+0.0%
Net Income	$-27,025	$-41,393	-0.3%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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

$140,828

Total Directors

$140,828

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARK HAYES	PRESIDENT &	2.00	Officer Director	$0	$21,403	$140,828
REV JOHN BOEDER	DIRECTOR	0.30	Director	$0	$0	$0
MR JEFF DAVIS	VICE CHAIR	0.30	Director	$0	$0	$0
MR JON MAERTZ	DIRECTOR	0.30	Director	$0	$0	$0
REV MICHAEL MUEHLENHARDT	DIRECTOR	0.30	Director	$0	$0	$0
MR RANDY NIEMANN	DIRECTOR	0.30	Director	$0	$0	$0
REV MATHEW C RAUH	CHAIR	0.30	Officer Director	$0	$0	$0
MR TIM SCHUTH	TREASURER	0.30	Officer Director	$0	$0	$0
MR LANCE SCHWARTZ	SECRETARY	0.30	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	$91,636	$118,661	$601,231	$-27,025
2023	$76,371	$117,764	$632,232	$-41,393
2022	$75,988	$111,455	$673,278	$-35,467
2021	$73,807	$107,897	$709,610	$-34,090
2020	$78,281	$103,975	$733,752	$-25,694
2019	$78,533	$97,877	$764,574	$-19,344
2018	$80,616	$98,945	$778,067	$-18,329

FAITH RESIDENCE APARTMENTS INC