PHILADELPHIA PRESBYTERY APARTMENTS OF MORRISVILLE INC

EIN: 222466663 501(c)(3) Housing & Shelter

LAFAYETTE HILL, PA

Total Revenue
$1,703,086
Total Expenses
$1,434,345
Total Assets
$3,673,007
Net Assets
$-317,401
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1984
Legal Domicile
PA
Principal Officer
JOHN H COCHRANE III
Phone
6108341001
Tax Period
2023-01-01 to 2023-12-31

PHILADELPHIA PRESBYTERY APARTMENTS OF MORRISVILLE INC, founded in 1984, is a community nonprofit in the Housing & Shelter sector that reported $1.7M in total revenue in fiscal year 2023. Revenue grew 10% year-over-year, indicating healthy expansion. The organization ran a surplus of $269K, a strong 16% operating margin.

Mission

ORGANIZATION OWNS AND OPERATES A 100-UNIT AFFORDABLE HOUSING COMMUNITY IN MORRISVILLE, PA.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $1,010,289
Program Service Revenue $552,742
Investment Income $102,332
Other Revenue $37,723
TOTAL REVENUE $1,703,086

Expense Breakdown

Grants Paid $0
Salaries & Benefits $288,270
Fundraising Expenses $0
Program Expenses $1,350,103
Other Expenses $1,146,075
TOTAL EXPENSES $1,434,345

Year-over-Year Comparison

2023 2022 Change
Revenue $1,703,086 $1,543,403 +0.1%
Expenses $1,434,345 $1,393,463 +0.0%
Net Income $268,741 $149,940 +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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Governance

Voting Members
9
Independent Members
5
Employees
3
Volunteers
7

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
10
$4,118,620
Total Directors
7
$451,000
Key Employees
1
$458,683
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
RANDALL STAMPER CHAIR 0.10
Officer Director
$0 $0 $73,000
ALBERT KELLEY VICE CHAIR 0.10
Officer Director
$0 $0 $63,000
H DECLAN BROWN SECRETARY 0.10
Officer Director
$0 $0 $63,000
JUDITH BAKER BOARD MEMBER 0.10
Director
$0 $0 $63,000
REV MICHELLE HOLMES BOARD MEMBER 0.10
Director
$0 $0 $63,000
WILLIAM BATISON BOARD MEMBER 0.10
Director
$0 $0 $63,000
ALLAN GRIFFITH BOARD MEMBER 0.10
Director
$0 $0 $63,000
JOHN H COCHRANE III CHIEF EXECUTIVE OFFICER 0.50
Officer
$0 $40,383 $1,137,774
DANIEL OGUS CHIEF OPERATING OFFICER 0.50
Officer
$0 $41,587 $895,319
ANDREW MCDONALD CHIEF FINANCIAL OFFICER 0.50
Officer
$0 $40,715 $651,891
BETHANY GHASSEMI CHIEF LEGAL OFFICER 0.50
Officer
$0 $15,193 $560,689
ANIKA HARTOUNIAN VP OF FINANCE 0.50
Officer
$0 $38,036 $334,595
NICK LINDBERG CHIEF INFORMATION OFFICE 0.50
Officer
$0 $1,975 $229,272
MIN FLEMING MENG CHIEF INFORMATION OFFICE 0.00
Officer
$0 $0 $110,080
JENNIFER KAPPEN SVP - AFFORDABLE HOUSING 8.00
Key Emp
$0 $47,857 $458,683
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 $1,703,086 $1,434,345 $3,673,007 $268,741
2022 $1,543,403 $1,393,463 $3,657,248 $149,940
2021 $1,530,041 $1,309,196 $3,421,977 $220,845
2020 $1,519,451 $1,271,003 $3,348,104 $248,448
2019 $1,528,556 $1,246,009 $3,213,736 $282,547
2018 $1,500,626 $1,284,787 $3,378,098 $215,839
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