WARDEN FARM HOMES INCORPORATED

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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

1968

Legal Domicile

Principal Officer

GEORGE PHILLIPS

Phone

5093497245

Tax Period

2023-07-01 to 2024-06-30

WARDEN FARM HOMES INCORPORATED, founded in 1968, is a small nonprofit that reported $238K in total revenue in fiscal year 2023. Expenses of $209K left a modest 12% surplus.

Mission

RENTAL OF APARTMENT UNITS TO ELDERLY LOW AND MODERATE INCOME PERSONS. TENANT RENTS ARE SUBSIDIZED THROUGH SECTIONS 515 (A) AND 521 (A) ASSISTANCE PAYMENT PROGRAM.

Program Service Accomplishments

Program 1

Expenses: $186,362 Revenue: $112,806

RENTAL OF 25 APARTMENT UNITS TO LOW AND MODERATE INCOME ELDERLY PERSONS; APARTMENTS WERE BUILT AND ARE OPERATED UNDER THE PROVISIONS OF THE NATIONAL HOUSING ACTS; TENANT RENTS ARE SUBSIDIZED THROUGH...

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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 $125,333

Program Service Revenue $112,786

Investment Income $20

Other Revenue $0

TOTAL REVENUE $238,139

Expense Breakdown

Grants Paid $0

Salaries & Benefits $70,404

Fundraising Expenses $0

Program Expenses $186,362

Other Expenses $138,541

TOTAL EXPENSES $208,945

Year-over-Year Comparison

	2023	2022	Change
Revenue	$238,139	$239,180	0.0%
Expenses	$208,945	$208,762	+0.0%
Net Income	$29,194	$30,418	0.0%

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

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
GEORGE PHILLIPS	PRESIDENT	1.00	Officer Director	$0	$0	$0
KEVIN WHITAKER	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
DIANNA PHILLIPS	SECRETARY/TREAS	1.00	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	$238,139	$208,945	$657,941	$29,194
2023	$239,180	$208,762	$690,638	$30,418
2022	$223,902	$198,258	$864,208	$25,644
2021	$212,165	$184,933	$745,117	$27,232
2020	$207,552	$182,721	$771,044	$24,831
2019	$200,239	$158,984	$782,719	$41,255