TEL-HAI APARTMENTS 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

1980

Legal Domicile

Principal Officer

DAVID SHENK

Phone

6102739333

Tax Period

2023-07-01 to 2024-06-30

TEL-HAI APARTMENTS INC, founded in 1980, is a small nonprofit that reported $295K in total revenue in fiscal year 2023. Revenue grew 11% year-over-year, indicating healthy expansion. Expenses of $254K left a modest 14% surplus.

Mission

TO PROVIDE RENT SUBSIDIZED APARTMENTS TO LOW-INCOME ELDERLY (OVER 62) OR HANDICAPPED OR DISABLED INDIVIDUALS (OVER 18). THE FEDERAL SUBSIDIZED APARTMENT BUILDING HAS 37 ONE BEDROOM APARTMENTS. CONTINUED ON SCHEDULE OTEL HAI RETIREMENT COMMUNITY'S MISSION STATEMENT IS TO PROVIDE HIGH QUALITY CARE AND SERVICES TO ENHANCE PERSONAL DIGNITY, AUTONOMY AND LIFELONG ENRICHMENT AS A DEMONSTRATION OF CHRIST'S LOVE FOR ALL PERSONS.

Program Service Accomplishments

Program 1

Expenses: $127,109 Revenue: $261,087

TEL HAI APARTMENTS PROVIDES RENT SUBSIDIZED HOUSING IN THE FORM OF 37 APARTMENTS FOR ELDERLY AND/OR HANDICAPPED INDIVIDUALS. OVER THE COURSE OF THE YEAR THE UNITS WERE 96% OCCUPIED.SERVICES AVAILABLE TO RESIDENTS INCLUDE A COMMUNITY ROOM, RESIDENT ACTIVITIES, COIN OPERATED LAUNDRY FACILITIES, ONSITE BUILDING MANAGEMENT AND MAINTENANCE AND ON CAMPUS SHUTTLE SERVICE. HOUSEKEEPING, DINING VENUES, AND SHOPPING TRIPS ARE AVAILABLE FOR A FEE.

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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 $261,087

Investment Income $11

Other Revenue $33,408

TOTAL REVENUE $294,506

Expense Breakdown

Grants Paid $0

Salaries & Benefits $94,256

Fundraising Expenses $0

Program Expenses $127,109

Other Expenses $160,200

TOTAL EXPENSES $254,456

Year-over-Year Comparison

	2023	2022	Change
Revenue	$294,506	$265,168	+0.1%
Expenses	$254,456	$226,340	+0.1%
Net Income	$40,050	$38,828	+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

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

$794,939

Total Directors

$166,778

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LUCINDA PETERSHEIM	DIRECTOR	1.00	Director	$0	$0	$0
CHRISTOPHER CHURCHILL	DIRECTOR	1.00	Director	$0	$0	$0
SHELDON MARTIN	DIRECTOR	1.00	Director	$0	$0	$0
KAREN HORNING	EVP RESIDENT SERVICES/CHAIR	1.00	Officer Director	$0	$14,684	$166,778
DAVID SHENK	PRESIDENT & CEO	1.00	Officer	$0	$39,018	$300,827
SHARON CANULL	CFO/ASST. SECRETARY	1.00	Officer	$0	$14,926	$171,188
PAUL S BURKHOLDER	VP, FACILITIES & PROJECT M	1.00	Officer	$0	$2,944	$156,146

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	$294,506	$254,456	$477,218	$40,050
2023	$265,168	$226,340	$345,310	$38,828
2022	$254,806	$254,601	$372,007	$205
2021	$250,241	$219,849	$443,883	$30,392
2020	$253,622	$217,690	$442,875	$35,932
2019	$257,952	$240,748	$469,482	$17,204
2018	$243,209	$250,245	$480,872	$-7,036