RAINBOW VILLAGE APTS 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

1976

Legal Domicile

Principal Officer

JERRY KALINA

Phone

5412247374

Tax Period

2024-01-01 to 2024-12-31

RAINBOW VILLAGE APTS INC, founded in 1976, is a community nonprofit that reported $1.1M in total revenue in fiscal year 2024. Revenue grew 18% year-over-year, indicating healthy expansion. The organization ran a surplus of $231K, a strong 21% operating margin.

Mission

A NON-PROFIT APARTMENT COMPLEX RUN BY THE LOCAL PRESBYTERIAN CHURCHES TO PROVIDE LOW-INCOME HOUSING.

Program Service Accomplishments

Program 1

Expenses: $857,656 Revenue: $595,544

THE CORPORATION PROVIDES LOW INCOME HOUSING UNDER SECTION 236 OF THE NATIONAL HOUSING ACT. OPERATIONS ARE SUBJECT RULES AND REGULATIONS OF HUD. THERE ARE 80 UNITS.

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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 (2024)

Revenue Breakdown

Contributions & Grants $493,056

Program Service Revenue $595,544

Investment Income $0

Other Revenue $0

TOTAL REVENUE $1,088,600

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $857,656

Other Expenses $857,656

TOTAL EXPENSES $857,656

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,088,600	$925,106	+0.2%
Expenses	$857,656	$875,755	0.0%
Net Income	$230,944	$49,351	+3.7%

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
JERRY KALINA	PRESIDENT	2.00	Officer Director	$0	$0	$0
LU-NITA HAWKINS	VICE-PRES.	1.00	Officer Director	$0	$0	$0
QUENTIN HOLMES	SECRETARY/TR	1.00	Officer Director	$0	$0	$0
JOHN O'BRIEN	DIRECTOR	1.00	Director	$0	$0	$0
HOWARD RULAND	DIRECTOR	1.00	Director	$0	$0	$0
LUKE PUSKEDRA	DIRECTOR	1.00	Director	$0	$0	$0
BETTY JEAN BURNETT	DIRECTOR	1.00	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	$1,088,600	$857,656	$2,187,960	$230,944
2023	$925,106	$875,755	$1,812,625	$49,351
2022	$897,465	$710,198	$1,744,489	$187,267
2021	$896,909	$671,931	$1,549,424	$224,978
2020	$867,722	$634,619	$1,338,389	$233,103
2019	$718,556	$666,932	$1,101,559	$51,624
2018	$602,920	$606,797	$1,031,401	$-3,877