TCS-I MIDTOWN APARTMENTS (EIN 231716928) - Form 990 Financial Analysis & Trantor Score

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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

1970

Principal Officer

JEAN ANNE MANZO

Phone

5703449823

Tax Period

2023-11-01 to 2024-10-31

TCS-I MIDTOWN APARTMENTS, founded in 1970, is a community nonprofit in the Housing & Shelter sector that reported $1.9M in total revenue in fiscal year 2023. Expenses of $1.8M left a modest 6% surplus.

Mission

THE ORGANIZATION'S MISSION IS TO PROVIDE AFFORDABLE HOUSING TO LOWER INCOME RESIDENTS OF THE CITY OF SCRANTON, THAT IS COMFORTABLE, CLEAN, MODERN, AND SAFE. THE ORGANZATION FULFILLS ITS MISSION BY CONTINUALLY REINVESTING IN THE PHYSICAL AND AESTHETIC QUALITY OF ITS 233 RESIDENTIAL UNITS, WHILE CHARGING RENTS THAT ARE CONSISTENTLY 35% TO 40% BELOW PREVALING MARKET RENT RATES IN THE REGION, THUS MAKING THE UNITS AFFORDABLE FOR CURRENT AND POTENTIAL TENANTS WITH LOWER INCOMES.

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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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $1,846,137

Investment Income $32,414

Other Revenue $0

TOTAL REVENUE $1,878,551

Expense Breakdown

Grants Paid $0

Salaries & Benefits $547,011

Fundraising Expenses $0

Program Expenses $1,768,814

Other Expenses $1,221,803

TOTAL EXPENSES $1,768,814

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,878,551	$1,782,395	+0.1%
Expenses	$1,768,814	$1,767,266	+0.0%
Net Income	$109,737	$15,129	+6.3%

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

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

$190,485

Total Directors

$190,485

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JEAN ANNE MANZO	EX. DIRECTOR	43.00	Officer Director	$79,321	$10,675	$99,471
EDIS HANIC	TREASURER	40.00	Officer Director	$75,740	$10,751	$91,014
JOAN DONOVAN	SECRETARY	4.00	Officer Director	$0	$0	$0
SANDY FRAZIER	DIRECTOR	2.00	Director	$0	$0	$0
SISTER JANET JEFFERS	DIRECTOR	2.00	Director	$0	$0	$0
HERB KNELLER	PRESIDENT	7.00	Officer Director	$0	$0	$0
LORRIE LOUGHNEY	DIRECTOR	2.00	Director	$0	$0	$0
JOE MAHONEY	DIRECTOR	2.00	Director	$0	$0	$0
ED MOTT	DIRECTOR	2.00	Director	$0	$0	$0
DAVID WEGNER	VICE PRESIDE	5.00	Officer 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
2024	$1,878,551	$1,768,814	$4,321,378	$109,737
2023	$1,782,395	$1,767,266	$4,345,232	$15,129
2022	$1,699,676	$1,706,456	$4,556,948	$-6,780
2021	$1,725,086	$1,555,090	$4,543,049	$169,996
2020	$1,652,931	$1,422,271	$4,489,484	$230,660
2019	$1,664,356	$1,441,515	$4,363,391	$222,841
2018	$1,767,811	$1,634,224	$4,236,087	$133,587

TCS-I MIDTOWN APARTMENTS