GLEN ROCK SENIOR CITIZEN HOUSING CO

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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

1983

Legal Domicile

Phone

2014455276

Tax Period

2024-01-01 to 2024-12-31

GLEN ROCK SENIOR CITIZEN HOUSING CO, founded in 1983, is a community nonprofit in the Housing & Shelter sector that reported $1.6M in total revenue in fiscal year 2024. The organization ran a surplus of $452K, a strong 28% operating margin.

Mission

TO PROVIDE RENTAL HOUSING AND HOUSING RELATED FACILITIES FOR SENIOR CITIZENS WHO ARE EITHER RESIDENTS OF THE BOROUGH OF GLEN ROCK, NJ OR FAMILIES OF SUCH PERSONS (3 STORY APARTMENT COMPLEX CONTAINING 80 APARTMENTS)

Program Service Accomplishments

Program 1

Expenses: $1,040,399

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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 $1,591,879

Investment Income $24,033

Other Revenue $6,986

TOTAL REVENUE $1,622,898

Expense Breakdown

Grants Paid $0

Salaries & Benefits $266,505

Fundraising Expenses $0

Program Expenses $1,040,399

Other Expenses $904,838

TOTAL EXPENSES $1,171,343

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,622,898	$1,522,089	+0.1%
Expenses	$1,171,343	$1,038,069	+0.1%
Net Income	$451,555	$484,020	-0.1%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ROBERT V BOURNE	PRESIDENT	5.00	Officer Director	$0	$0	$0
WILLIAM HUISKING	VICE PRESIDENT	5.00	Officer Director	$0	$0	$0
CARMINE NOGARA	TREASURER	5.00	Officer Director	$0	$0	$0
THOMAS SCERBO	SECRETARY	10.00	Officer Director	$0	$0	$0
ROBERT J CROLAND	TRUSTEE	1.00	Director	$0	$0	$0
MARC STURIALE	TRUSTEE	1.00	Director	$0	$0	$0
LENORA BENJAMIN	TRUSTEE	1.00	Director	$0	$0	$0
MARY BARCHETTO	TRUSTEE	1.00	Director	$0	$0	$0
KATHRYN RAZIN	TRUSTEE	1.00	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
2025	No data	No data	No data	No data
2024	$1,622,898	$1,171,343	$4,496,431	$451,555
2023	$1,522,089	$1,038,069	$4,041,709	$484,020
2022	$1,369,988	$984,043	$3,556,314	$385,945
2021	$1,230,752	$906,443	$3,167,215	$324,309
2020	$1,199,924	$872,609	$2,806,894	$327,315
2019	$1,202,873	$870,444	$2,480,130	$332,429
2018	$1,180,748	$782,289	$2,161,617	$398,459