GOLDEN AGE 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

2007

Legal Domicile

Phone

8705345669

Tax Period

2024-01-01 to 2024-12-31

GOLDEN AGE APARTMENTS INC, founded in 2007, is a small nonprofit in the Housing & Shelter sector that reported $107K in total revenue in fiscal year 2024. Revenue decreased 5% compared to the prior year. Expenses of $161K exceeded revenue, resulting in a 50% operating deficit.

Mission

The mission of Golden Age Apartments Inc. is to provide housing for independent senior citizens without regard to race creed color or religion.

Program Service Accomplishments

Program 1

Expenses: $104,857 Revenue: $107,356

The organization does not identify any single largest donor program; therefore all revenue identified above is due to rental revenue and expenses are allowable expenditures.

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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 $0

Program Service Revenue $107,356

Investment Income $0

Other Revenue $0

TOTAL REVENUE $107,356

Expense Breakdown

Grants Paid $0

Salaries & Benefits $24,609

Fundraising Expenses $0

Program Expenses $104,857

Other Expenses $136,710

TOTAL EXPENSES $161,319

Year-over-Year Comparison

	2024	2023	Change
Revenue	$107,356	$113,218	-0.1%
Expenses	$161,319	$150,381	+0.1%
Net Income	$-53,963	$-37,163	+0.5%

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

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	Role	Reportable Comp	Other Comp	Total
Richard Denny	President	Officer Director	$0	$0	$0
Miller Lafite	Vice President	Officer Director	$0	$0	$0
Vera Smith	Board Treasurer	Officer Director	$0	$0	$0
Deborah Bass	Board Secretary	Officer Director	$0	$0	$0
James Stewart	Board Member	Director	$0	$0	$0
Zola Hudson	Board Member	Director	$0	$0	$0
Sharon London Payne	Board Member	Director	$0	$0	$0
Deborah Deshazier	Board Member	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	$107,356	$161,319	$947,743	$-53,963
2023	$113,218	$150,381	$993,549	$-37,163
2022	$100,770	$144,916	$1,030,672	$-44,146
2021	$104,803	$146,160	$1,074,517	$-41,357