SPARTA ECUMENICAL COUNCIL ON SENIO… - Form 990 Financial Data

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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

1978

Legal Domicile

Principal Officer

FRANCESCA MCKERNAN

Phone

9737294311

Tax Period

2024-01-01 to 2024-12-31

SPARTA ECUMENICAL COUNCIL ON SENIOR CITIZEN HOUSING, founded in 1978, is a community nonprofit in the Housing & Shelter sector that reported $2.9M in total revenue in fiscal year 2024. Revenue grew 9% year-over-year, indicating healthy expansion. Net assets of $5.8M represent 24 months of operating reserves.

Mission

THE PURPOSE OF THE ORGANIZATION IS TO DEVELOP, OPERATE, AND/OR MANAGE A SENIOR CITIZEN HOUSING COMPLEX WHICH IS DESIGNATED FOR THE PRIMARY PURPOSE OF PROVIDING DECENT, SAFE HOUSING TO LOW AND MODERATELY LOW-INCOME SENIORS. IN ADDITION, THE BOARD IS DEDICATED TO PROVIDING RELATED SERVICES SUCH AS ADMINISTRATIVE, COMMUNITY, HEALTH, RECREATIONAL, AND EDUCATIONAL THAT ASSISTS OUR RESIDENTS TO AGE IN A PLACE WITH DIGNITY, INDEPENDENCE, AND SECURITY.

Program Service Accomplishments

Program 1

Expenses: $2,406,662 Revenue: $2,736,302

OPERATED A 150-UNIT SENIOR CITIZEN HOUSING COMPLEX KNOWN AS KNOLL HEIGHTS VILLAGE, WHICH CONSISTS OF 38 ONE-STORY TENANT OCCUPIED BUILDINGS, ONE OFFICE BUILDING, AND ONE COMMUNITY BUILDING LOCATED IN SPARTA, NEW JERSEY. THE CORPORATION'S FACILITIES OPERATE UNDER SECTION 8 OF THE NATIONAL HOUSING ACT AND ARE REGULATED BY THE NEW JERSEY HOUSING AND MORTGAGE FINANCE AGENCY AS TO RENTAL CHARGES, OPERATING EXPENSES, DISTRIBUTIONS TO OWNERS, AND OPERATING METHODS ALSO, PROVIDED CONGREGATE SERVICES (HOUSEKEEPING, MEALS, LAUNDRY, AND PERSONAL ASSISTANCE) TO OVER 75 INDIVIDUALS AND PROVIDED THERAPEUTIC RECREATIONAL SERVICES ON A CONSISTENT 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 $94,638

Program Service Revenue $2,659,580

Investment Income $84,895

Other Revenue $76,722

TOTAL REVENUE $2,915,835

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,484,026

Fundraising Expenses $0

Program Expenses $2,406,662

Other Expenses $1,522,627

TOTAL EXPENSES $3,006,653

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,915,835	$2,664,432	+0.1%
Expenses	$3,006,653	$3,100,232	0.0%
Net Income	$-90,818	$-435,800	-0.8%

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

$306,099

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
EDWARD MADZY	PRESIDENT	2.00	Officer Director	$0	$0	$0
DAVID LATORRE	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
MATT HANNUM	TREASURER	2.00	Officer Director	$0	$0	$0
STACEY HEREDIA	SECRETARY	2.00	Officer Director	$0	$0	$0
ROBERT CANGEMI	TRUSTEE	2.00	Director	$0	$0	$0
DOLORES GRACE	TRUSTEE	2.00	Director	$0	$0	$0
JAMES MCGOVERN	TRUSTEE	2.00	Director	$0	$0	$0
MARIA NELSON	TRUSTEE	2.00	Director	$0	$0	$0
WALT STANEK	TRUSTEE	2.00	Director	$0	$0	$0
STEVEN BECHTOLD	TRUSTEE	2.00	Director	$0	$0	$0
JAY DUNN	TRUSTEE	2.00	Director	$0	$0	$0
MIKE WILSON	TRUSTEE	2.00	Director	$0	$0	$0
SAYLA WEEKLEY	TRUSTEE	2.00	Director	$0	$0	$0
FRANCESCA MCKERNAN	EXECUTIVE DIRECTOR	40.00	Officer	$168,587	$16,949	$185,536
RAYMOND MANNING	CFO	40.00	Officer	$106,245	$14,318	$120,563
AVERY MULDER	MAINTENANCE MANAGER	40.00	Highest	$104,398	$14,858	$119,256

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
2024	$2,915,835	$3,006,653	$6,120,930	$-90,818
2023	$2,664,432	$3,100,232	$5,997,471	$-435,800
2023	$2,664,442	$2,263,043	$6,800,547	$401,399
2022	$2,701,965	$2,814,570	$6,126,511	$-112,605
2021	$2,646,476	$2,630,841	$7,078,698	$15,635
2020	$2,479,920	$2,356,762	$7,192,644	$123,158
2019	$2,409,425	$2,337,189	$6,816,157	$72,236
2018	$2,546,544	$2,639,394	$6,413,546	$-92,850

SPARTA ECUMENICAL COUNCIL ON SENIOR CITIZEN HOUSING