Mercy Terrace Apartments

EIN: 251523703 501(c)(3)

Erie, PA

Total Revenue
$532,238
Total Expenses
$533,864
Total Assets
$2,636,190
Net Assets
$2,590,357
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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
1985
Legal Domicile
PA
Principal Officer
Kelly J Carson
Phone
8148256791
Tax Period
2025-01-01 to 2025-12-31

Mercy Terrace Apartments, founded in 1985, is a small nonprofit that reported $532K in total revenue in fiscal year 2025. Net assets of $2.6M represent 58 months of operating reserves.

Mission

Operation of an independent living apartment complex for the elderly, meeting their social, spiritual, physical and psychological needs in housing and immediate environment, at a moderate cost.

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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%)

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Financial Overview (2025)

Revenue Breakdown

Contributions & Grants $2,442
Program Service Revenue $493,170
Investment Income $36,626
Other Revenue $0
TOTAL REVENUE $532,238

Expense Breakdown

Grants Paid $63,765
Salaries & Benefits $163,545
Fundraising Expenses $0
Program Expenses $487,934
Other Expenses $306,554
TOTAL EXPENSES $533,864

Year-over-Year Comparison

2025 2024 Change
Revenue $532,238 $531,819 +0.0%
Expenses $533,864 $517,666 +0.0%
Net Income $-1,626 $14,153 -1.1%
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

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Governance

Voting Members
9
Independent Members
9
Employees
5
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
3
$0
Total Directors
11
$80,901
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Kim Goetz Member at large 2.00
Director
$0 $0 $0
Sr Lisa Mary McCartney RSM PhD Board Secretary 2.00
Officer Director
$0 $0 $0
Rev Michael P Ferrick Board Member 2.00
Director
$0 $0 $0
Thomas Brunner Board Member 2.00
Director
$0 $0 $0
Melissa L Larese Esq Vice Chairperson 2.00
Officer Director
$0 $0 $0
Sr JoAnne Courneen RSM Board Treasurer 2.00
Officer Director
$0 $0 $0
Mary E Zenner Former Executive Director 40.00
Director
$39,450 $0 $39,450
Matthew J Rose Board Member 2.00
Director
$0 $0 $0
Mark Simpson CPA CFP Board Member 2.00
Director
$0 $0 $0
Kelly J Carson Executive Director 40.00
Director
$41,451 $0 $41,451
Melanie Titzel Board Member 2.00
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
2025 $532,238 $533,864 $2,636,190 $-1,626
2024 $531,819 $517,666 $2,609,665 $14,153
2023 $593,651 $497,349 $2,575,506 $96,302
2022 $519,157 $514,575 $2,447,079 $4,582
2021 $538,462 $404,211 $2,521,995 $134,251
2020 $513,459 $391,236 $2,467,243 $122,223
2019 $521,240 $378,913 $2,474,528 $142,327
2018 $500,493 $442,571 $2,432,458 $57,922
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