SOMERSET ARC APARTMENTS INC (EIN 222537989) - Form 990 Financial Analysis & Trantor Score

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

1984

Legal Domicile

Principal Officer

CHRISTOPHER CORVINO

Phone

9087258544

Tax Period

2024-07-01 to 2025-06-30

SOMERSET ARC APARTMENTS INC, founded in 1984, is a small nonprofit in the Housing & Shelter sector that reported $243K in total revenue in fiscal year 2024. Revenue grew 11% year-over-year, indicating healthy expansion. The organization ran a surplus of $55K, a strong 23% operating margin.

Mission

TO PROVIDE AFFORDABLE, COMMUNITY BASED, SUPPORTED HOUSING TO INDIVIDUALS WITH INTELLECTUAL AND DEVELOPMENTAL DISABILITIES.

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $155,777

Program Service Revenue $87,654

Investment Income $44

Other Revenue $0

TOTAL REVENUE $243,475

Expense Breakdown

Grants Paid $0

Salaries & Benefits $31,846

Fundraising Expenses $0

Program Expenses $154,742

Other Expenses $156,202

TOTAL EXPENSES $188,048

Year-over-Year Comparison

	2024	2023	Change
Revenue	$243,475	$219,399	+0.1%
Expenses	$188,048	$194,236	0.0%
Net Income	$55,427	$25,163	+1.2%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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

$287,883

Total Directors

$287,883

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TOM APPLEGATE	PRESIDENT	1.00	Officer Director	$0	$0	$0
DARRYL VOORHEES	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
MARK MCDONOUGH	TREASURER	1.00	Officer Director	$0	$0	$0
JOHN ZAJAC	SECRETARY	1.00	Officer Director	$0	$0	$0
SANDEE MILLER	ASSOC. EXECUTIVE DIRECTOR	1.00	Officer Director	$0	$17,880	$129,866
CHRISTOPHER CORVINO	EXECUTIVE DIRECTOR	1.00	Officer Director	$0	$7,525	$158,017
MONIMALA NANDAN	DIRECTOR OF HR	1.00	Highest	$0	$17,381	$121,384

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	$243,475	$188,048	$309,999	$55,427
2024	$219,399	$194,236	$254,415	$25,163
2023	$209,210	$182,784	$230,260	$26,426
2022	$199,546	$185,350	$201,870	$14,196
2021	$203,702	$179,451	$242,177	$24,251
2020	$194,593	$156,194	$180,217	$38,399
2019	$189,677	$175,716	$165,962	$13,961

SOMERSET ARC APARTMENTS INC