KING-WEST PROPERTIES 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

2006

Legal Domicile

Principal Officer

LINDA MICHELSEN

Phone

7032993100

Tax Period

2023-01-01 to 2023-12-31

KING-WEST PROPERTIES INC, founded in 2006, is a community nonprofit in the Philanthropy & Grantmaking sector that reported $1.7M in total revenue in fiscal year 2023. Revenue decreased 15% compared to the prior year. The organization ran a surplus of $713K, a strong 41% operating margin.

Mission

THE SOLE PURPOSE OF THE COMPANY IS TO HOLD TITLE TO PROPERTY, COLLECT INCOME FROM SUCH PROPERTY AND TO TURN OVER SUCH INCOME, LESS EXPENSES, TO THE FEDERATION OF STATE BOARDS OF PHYSICAL THERAPY, AN EXEMPT 501(C)(6) ORGANIZATION IN ACCORDANCE WITH IRC SECTION 501(C)(2).

Program Service Accomplishments

Program 1

Expenses: $1,011,822 Revenue: $1,022,656

THE OFFICE BUILDING WAS PUT INTO SERVICE IN JULY 2007. TWO FLOORS OF THE BUILDING ARE OCCUPIED BY THE ORGANIZATION'S PARENT COMPANY, THE FEDERATION OF STATE BOARDS OF PHYSICAL THERAPY, AS ITS...

THE OFFICE BUILDING WAS PUT INTO SERVICE IN JULY 2007. TWO FLOORS OF THE BUILDING ARE OCCUPIED BY THE ORGANIZATION'S PARENT COMPANY, THE FEDERATION OF STATE BOARDS OF PHYSICAL THERAPY, AS ITS ADMINISTRATIVE OFFICES. SPACE ON THE TWO FLOORS IS ALSO RENTED TO THE FOREIGN CREDENTIALING COMMISSION OF PHYSICAL THERAPY, A RELATED 501(C)(6) ORGANIZATION.

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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 $1,022,656

Investment Income $126,760

Other Revenue $575,745

TOTAL REVENUE $1,725,161

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $1,011,822

Other Expenses $1,011,822

TOTAL EXPENSES $1,011,822

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,725,161	$2,026,074	-0.1%
Expenses	$1,011,822	$907,667	+0.1%
Net Income	$713,339	$1,118,407	-0.4%

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

$1,794,365

Total Directors

$72,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAVID RELLING	PRESIDENT	0.25	Officer Director	$0	$0	$16,000
MICHELE THORMAN	VICE PRESIDENT	0.25	Officer Director	$0	$0	$8,000
RUGGIERO CANIZARES	TREASURER	0.25	Officer Director	$0	$0	$8,000
CINDY POTTER	SECRETARY	0.25	Officer Director	$0	$0	$8,000
ELLEN KROOG DONALD	DIRECTOR	0.25	Director	$0	$0	$8,000
JONI KALIS	DIRECTOR	0.25	Director	$0	$0	$6,667
ADRIENNE PRICE	DIRECTOR	0.25	Director	$0	$0	$6,667
CHARLES REITER	PUBLIC MEMBER	0.25	Director	$0	$0	$8,000
STEVEN SCHERGER	DIRECTOR	0.25	Director	$0	$0	$1,333
MICHELLE SIGMUND-GAINES	DIRECTOR	0.25	Director	$0	$0	$1,333
WILLIAM HATHERHILL	CEO	0.25	Officer	$0	$249,211	$1,322,837
LINDA MICHELSEN	CFO	0.25	Officer	$0	$114,648	$431,528

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	$1,725,161	$1,011,822	$13,024,629	$713,339
2022	$2,026,074	$907,667	$12,853,371	$1,118,407
2021	$4,085,145	$918,518	$12,673,618	$3,166,627
2020	$5,009,638	$912,870	$12,110,361	$4,096,768
2019	$1,433,554	$1,317,042	$11,902,708	$116,512
2018	$1,385,576	$1,055,951	$9,112,753	$329,625