FAIRHAVEN APARTMENTS INC

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

1974

Legal Domicile

Principal Officer

MITCH WALTERS

Phone

3173442491

Tax Period

2025-01-01 to 2025-12-31

FAIRHAVEN APARTMENTS INC, founded in 1974, is a small nonprofit that reported $375K in total revenue in fiscal year 2025. Revenue grew 8% year-over-year, indicating healthy expansion. Expenses of $572K exceeded revenue, resulting in a 53% operating deficit.

Mission

THE MISSION OF FAIRHAVEN APARTMENTS, INC IS TO PROVIDE AND OPERATE RENTAL HOUSING AND RELATED FACILITIES THAT MEET THE SPECIAL NEEDS AND LIVING REQUIREMENTS OF ALL ELIGIBLE OCCUPANTS, AS DETERMINED BY THE RURAL ECONOMIC AND COMMUNITY DEVELOPMENT AGENCY OF THE FARMERS HOME

Program Service Accomplishments

Program 1

Expenses: $488,564 Revenue: $374,768

THE MANAGEMENT AND OPERATION OF 65 APARTMENTS FOR ELIGIBLE LOW INCOME ELDERLY PERSONS IN AND AROUND LAWRENCEBURG, INDIANA

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2025)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $371,701

Investment Income $54

Other Revenue $3,067

TOTAL REVENUE $374,822

Expense Breakdown

Grants Paid $0

Salaries & Benefits $90,342

Fundraising Expenses $0

Program Expenses $488,564

Other Expenses $481,874

TOTAL EXPENSES $572,216

Year-over-Year Comparison

	2025	2024	Change
Revenue	$374,822	$346,607	+0.1%
Expenses	$572,216	$407,654	+0.4%
Net Income	$-197,394	$-61,047	+2.2%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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
JOHN KIME	BOARD MEMBER	2.00	Director	$0	$0	$0
PAUL SEYMOUR	BOARD MEMBER	2.00	Director	$0	$0	$0
GERALD D KING	PRESIDENT	2.00	Officer	$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	$374,822	$572,216	$1,581,081	$-197,394
2024	$346,607	$407,654	$1,754,796	$-61,047
2023	$563,385	$423,170	$1,834,502	$140,215
2022	$923,518	$292,578	$1,758,767	$630,940
2021	$1,082,294	$278,524	$1,190,723	$803,770
2020	$257,031	$294,812	$408,575	$-37,781
2019	$321,040	$253,320	$446,609	$67,720
2018	$233,124	$213,328	$397,084	$19,796