PRESBYTERIAN APARTMENTS AT 58TH STREET INC

EIN: 232605582 501(c)(3) Housing & Shelter

LAFAYETTE HILL, PA

Total Revenue
$1,266,580
Total Expenses
$1,449,012
Total Assets
$7,171,414
Net Assets
$-640,923
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1990
Legal Domicile
PA
Principal Officer
JOHN H COCHRANE III
Phone
6108341001
Tax Period
2023-01-01 to 2023-12-31

PRESBYTERIAN APARTMENTS AT 58TH STREET INC, founded in 1990, is a community nonprofit in the Housing & Shelter sector that reported $1.3M in total revenue in fiscal year 2023. Expenses of $1.4M exceeded revenue, resulting in a 14% operating deficit.

Mission

BECAUSE WE BELIEVE THIS, OUR MISSION IS TO INSPIRE YOUR BEST LIFE. WE DO THAT BY WORKING HAND-IN-HAND TO CREATE EXPERIENCES THAT MATTER TO YOU.

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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 $947,334
Program Service Revenue $309,795
Investment Income $758
Other Revenue $8,693
TOTAL REVENUE $1,266,580

Expense Breakdown

Grants Paid $0
Salaries & Benefits $234,289
Fundraising Expenses $0
Program Expenses $1,391,947
Other Expenses $1,214,723
TOTAL EXPENSES $1,449,012

Year-over-Year Comparison

2023 2022 Change
Revenue $1,266,580 $1,204,511 +0.1%
Expenses $1,449,012 $1,591,253 -0.1%
Net Income $-182,432 $-386,742 -0.5%
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

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Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
9
Independent Members
5
Employees
4
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 $1,266,580 $1,449,012 $7,171,414 $-182,432
2022 $1,204,511 $1,591,253 $7,384,723 $-386,742
2021 $1,234,992 $1,309,494 $7,692,538 $-74,502
2020 $1,221,753 $1,304,811 $7,664,761 $-83,058
2019 $1,192,292 $1,313,871 $7,831,962 $-121,579
2018 $1,156,177 $1,180,457 $8,654,827 $-24,280
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