FRANKFORD SENIOR HOUSING ASSOCIATES (EIN 232718494) - 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

1989

Legal Domicile

Principal Officer

Joseph Duffey

Phone

2159514216

Tax Period

2023-07-01 to 2024-06-30

FRANKFORD SENIOR HOUSING ASSOCIATES, founded in 1989, is a small nonprofit that reported $694K in total revenue in fiscal year 2023. Revenue grew 18% year-over-year, indicating healthy expansion. Expenses of $800K exceeded revenue, resulting in a 15% operating deficit.

Mission

This business owns and operates a 50-Unit Apartment building that rents HUD-subsidized apartments to senior citizens.

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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 $624,657

Investment Income $4,361

Other Revenue $64,792

TOTAL REVENUE $693,810

Expense Breakdown

Grants Paid $0

Salaries & Benefits $179,640

Fundraising Expenses $0

Program Expenses $800,304

Other Expenses $620,664

TOTAL EXPENSES $800,304

Year-over-Year Comparison

	2023	2022	Change
Revenue	$693,810	$586,331	+0.2%
Expenses	$800,304	$722,884	+0.1%
Net Income	$-106,494	$-136,553	-0.2%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Tim McGrath	Chairman	1	Director	$0	$0	$0
Joe Duffey	Board Member	1	Director	$0	$0	$0
Mary Naylor	Board Member	1	Director	$0	$0	$0
Steve Mullin	Member	1	Director	$0	$0	$0
Neil Pitts	Member	1	Director	$0	$0	$0
Max Kent	President	1	Director	$0	$0	$0
Mike DeMarco	Treasurer	1	Director	$0	$0	$0
John Ungar	Secretary	1	Director	$0	$0	$0
Paul Funaro	Assistant Secretayr	1	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
2025	No data	No data	No data	No data
2024	$693,810	$800,304	$4,222,535	$-106,494
2023	$586,331	$722,884	$3,771,400	$-136,553
2022	$563,350	$741,817	$4,233,756	$-178,467
2021	$442,128	$614,835	$4,008,412	$-172,707
2020	$521,825	$690,052	$4,020,690	$-168,227
2019	$493,902	$667,023	$4,180,548	$-173,121
2018	$484,192	$632,875	$2,796,535	$-148,683

FRANKFORD SENIOR HOUSING ASSOCIATES