PHOEBE 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

1967

Legal Domicile

Phone

6107945142

Tax Period

2022-07-01 to 2023-06-30

PHOEBE APARTMENTS INC, founded in 1967, is a community nonprofit that reported $1.1M in total revenue in fiscal year 2022. Expenses of $1.0M left a modest 7% surplus.

Mission

PHOEBE APARTMENTS IS AN AFFILIATED ENTITY OF PHOEBE MINISTRIES. ITS MISSION ADHERES TO THE PHOEBE MINISTRIES' MISSION: "A COMMUNITY OF FAITH, CALLED BY GOD, TO ENRICH THE LIVES OF OUR SENIORS, THEIR FAMILIES, AND THE COMMUNITIES WE SERVE."

Program Service Accomplishments

Program 1

Expenses: $664,400 Revenue: $1,000,031

PHOEBE APARTMENTS IS A SENIOR CITIZENS' HOUSING PROJECT WITH 131 APARTMENTS CONSISTING OF 64 EFFICIENCIES AND 67 ONE BEDROOM UNITS. DURING THE YEAR ENDED JUNE 30, 2023, PHOEBE APARTMENTS HOUSED 150 RESIDENTS WITH 47,365 INDEPENDENT LIVING CENSUS DAYS. PHOEBE APARTMENTS OPERATED AT 99.06% OCCUPANCY. SEE SCHEDULE O FOR MORE DETAILS ON PHOEBE PROGRAM SERVICES

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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 (2022)

Revenue Breakdown

Contributions & Grants $66,078

Program Service Revenue $1,000,031

Investment Income $4,365

Other Revenue $10,265

TOTAL REVENUE $1,080,739

Expense Breakdown

Grants Paid $0

Salaries & Benefits $202,360

Fundraising Expenses $0

Program Expenses $664,400

Other Expenses $802,757

TOTAL EXPENSES $1,005,117

Year-over-Year Comparison

	2022	2021	Change
Revenue	$1,080,739	$1,002,702	+0.1%
Expenses	$1,005,117	$969,340	+0.0%
Net Income	$75,622	$33,362	+1.3%

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

112

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

$1,431,094

Total Directors

$827,853

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
N/A	TREASURER (UNTIL 01/01/23)	1.0	Officer Director	$0	$0	$0
N/A	TREASURER (AS OF 01/01/23)	1.0	Officer Director	$0	$0	$0
N/A	CHAIRPERSON	1.0	Officer Director	$0	$0	$0
N/A	SECRETARY	1.0	Officer Director	$0	$0	$0
N/A	PRESIDENT/CEO	40.0	Officer Director	$0	$37,732	$827,853
N/A	VICE CHAIRPERSON	1.0	Officer Director	$0	$0	$0
N/A	BOARD MEMBER	1.0	Director	$0	$0	$0
N/A	BOARD MEMBER	1.0	Director	$0	$0	$0
N/A	BOARD MEMBER	1.0	Director	$0	$0	$0
N/A	BOARD MEMBER	1.0	Director	$0	$0	$0
N/A	BOARD MEMBER	1.0	Director	$0	$0	$0
N/A	BOARD MEMBER	1.0	Director	$0	$0	$0
N/A	BOARD MEMBER	1.0	Director	$0	$0	$0
N/A	BOARD MEMBER	1.0	Director	$0	$0	$0
N/A	BOARD MEMBER	1.0	Director	$0	$0	$0
N/A	BOARD MEMBER	1.0	Director	$0	$0	$0
N/A	BOARD MEMBER	1.0	Director	$0	$0	$0
N/A	COO	40.0	Officer	$0	$28,637	$380,179
N/A	CFO	40.0	Officer	$0	$12,794	$223,062
N/A	FORMER COO	40.0		$0	$0	$287,360

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	No data	No data	No data	No data
2023	$1,080,739	$1,005,117	$1,560,523	$75,622
2022	$1,002,702	$969,340	$1,847,994	$33,362
2021	$967,107	$944,062	$1,882,486	$23,045
2020	$988,998	$948,236	$1,852,545	$40,762
2019	$980,122	$835,890	$1,694,405	$144,232
2018	$961,128	$876,495	$1,606,146	$84,633