SOUTHERN LIVING APARTMENTS INC (EIN 202077493) - 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

2007

Legal Domicile

Principal Officer

DEBBIE NEELY

Phone

9317965427

Tax Period

2023-07-01 to 2024-06-30

SOUTHERN LIVING APARTMENTS INC, founded in 2007, is a small nonprofit in the Housing & Shelter sector that reported $138K in total revenue in fiscal year 2023. Revenue grew 9% year-over-year, indicating healthy expansion. Expenses of $180K exceeded revenue, resulting in a 31% operating deficit.

Mission

RESIDENTIAL HOUSING PROJECT. THE ORGANIZATION OPERATES AN 18-UNIT HOUSING PROJECT IN SAVANNAH, TENNESSEE FOR THE BENEFIT OF SENIOR ADULTS AGED 62 OR MORE.

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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 $64,306

Program Service Revenue $72,034

Investment Income $1,672

Other Revenue $0

TOTAL REVENUE $138,012

Expense Breakdown

Grants Paid $0

Salaries & Benefits $46,664

Fundraising Expenses $0

Program Expenses $149,435

Other Expenses $133,477

TOTAL EXPENSES $180,141

Year-over-Year Comparison

	2023	2022	Change
Revenue	$138,012	$126,628	+0.1%
Expenses	$180,141	$179,056	+0.0%
Net Income	$-42,129	$-52,428	-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

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
MICHAEL CREASY	PRESIDENT	1.00	Officer Director	$0	$0	$0
PAT CARROLL	SECRETARY	1.00	Officer Director	$0	$0	$0
CHELSEA COTHAM	BOARD MEMBER	1.00	Director	$0	$0	$0
ANN GALBREATH	BOARD MEMBER	1.00	Director	$0	$0	$0
TERRELL YEISER	BOARD MEMBER	1.00	Director	$0	$0	$0
JERRY T RISNER	EXECUTIVE DIRECTOR	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
2025	No data	No data	No data	No data
2024	$138,012	$180,141	$775,585	$-42,129
2023	$126,628	$179,056	$814,235	$-52,428
2022	$118,036	$166,633	$862,901	$-48,597
2021	$117,135	$166,568	$903,389	$-49,433
2020	$119,067	$172,384	$950,531	$-53,317
2019	$117,300	$157,094	$999,724	$-39,794
2018	$111,109	$159,139	$1,033,268	$-48,030

SOUTHERN LIVING APARTMENTS INC