MARION PROJECT III INC (EIN 205386019) - 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

2006

Legal Domicile

Principal Officer

DICK DEARINGER

Phone

4029798149

Tax Period

2024-01-01 to 2024-12-31

MARION PROJECT III INC, founded in 2006, is a small nonprofit in the Housing & Shelter sector that reported $296K in total revenue in fiscal year 2024. Revenue grew 10% year-over-year, indicating healthy expansion. Expenses of $391K exceeded revenue, resulting in a 32% operating deficit.

Mission

MARION PROJECT III, INC. (THE "CORPORATION") IS A NOT-FOR-PROFIT CORPORATION THAT WAS FORMED UNDER THE NOT-FOR-PROFIT STATUTES OF THE STATE OF IOWA. THE CORPORATION WAS FORMED FOR THE PURPOSE OF CONSTRUCTING, OWNING AND OPERATING A 40 UNIT COMMUNITY KNOWN AS TRINITY POINTE (THE "COMMUNITY") LOCATED IN MARION, IOWA, WHICH PROVIDES HOUSING FOR LOW INCOME ELDERLY PERSONS PURSUANT TO SECTION 202 OF THE NATIONAL HOUSING ACT.THE CORPORATION ENTERED INTO A REGULATORY AGREEMENT WITH THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT ("HUD") WHICH CONTAINS, AMONG OTHER THINGS, RESTRICTIONS ON TRANSFERRING ANY OF THE COMMUNITY'S PROPERTY, ASSIGNING THE RIGHTS TO MANAGE OR RECEIVE THE RENTS AND PROFITS OF THE PROPERTY OR ASSUMING ADDITIONAL INDEBTEDNESS. PURSUANT TO THE REGULATORY AGREEMENT, THE COMMUNITY MUST MAINTAIN 39 OF ITS 40 UNITS AS AFFORDABLE TO LOW INCOME ELDERLY PERSONS. THE COMMUNITY IS OBLIGATED TO RECERTIFY RESIDENT ELIGIBILITY ON AN ANNUAL BASIS.

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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 (2024)

Revenue Breakdown

Contributions & Grants $92,735

Program Service Revenue $198,233

Investment Income $1,299

Other Revenue $3,977

TOTAL REVENUE $296,244

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $344,585

Other Expenses $390,575

TOTAL EXPENSES $390,575

Year-over-Year Comparison

	2024	2023	Change
Revenue	$296,244	$269,377	+0.1%
Expenses	$390,575	$382,693	+0.0%
Net Income	$-94,331	$-113,316	-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

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
DICK DEARINGER	PRESIDENT	2.00	Officer Director	$0	$0	$0
KEN STANFORD	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
TAMMY DANOVER	TREASURER	2.00	Officer Director	$0	$0	$0
LINDA DEARINGER	SECRETARY	2.00	Officer Director	$0	$0	$0
SCOTT DRAPER	DIRECTOR	0.50	Director	$0	$0	$0
KATHLEEN LAMMERS	DIRECTOR	0.50	Director	$0	$0	$0
DICK GRIMM	DIRECTOR	0.50	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	$296,244	$390,575	$2,752,260	$-94,331
2023	$269,377	$382,693	$2,853,051	$-113,316
2022	$246,876	$395,827	$2,994,352	$-148,951
2021	$279,891	$391,967	$3,080,362	$-112,076
2020	$376,654	$369,228	$3,196,430	$7,426
2019	$392,664	$328,084	$3,207,707	$64,580
2018	$258,394	$340,544	$3,152,970	$-82,150

MARION PROJECT III INC