INDEPENDENCE PARK 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

2001

Legal Domicile

Principal Officer

FRAN BILLEN

Phone

7243426222

Tax Period

2024-07-01 to 2025-06-30

INDEPENDENCE PARK INC, founded in 2001, is a small nonprofit in the Housing & Shelter sector that reported $101K in total revenue in fiscal year 2024. Expenses of $120K exceeded revenue, resulting in a 19% operating deficit.

Mission

MISSION IS TO PROVIDE HANDICAPPED PERSONS WITH HOUSING FACILITIES AND SERVICES SPECIALLY DESIGNED TO MEET THEIR PHYSICAL, SOCIAL, AND PSYCHOLOGICAL NEEDS, AND TO PROMOTE THEIR HEALTH, SECURITY, HAPPINESS, AND USEFULNESS IN LONGER LIVING.

Program Service Accomplishments

Program 1

Expenses: $78,554 Revenue: $100,657

PROVIDING LOW COST OR SUBSIDIZED HOUSING TO QUALIFIED PHYSICALLY DISABLED INDIVIDUALS

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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 $0

Program Service Revenue $100,657

Investment Income $5

Other Revenue $0

TOTAL REVENUE $100,662

Expense Breakdown

Grants Paid $0

Salaries & Benefits $38,039

Fundraising Expenses $0

Program Expenses $78,554

Other Expenses $82,048

TOTAL EXPENSES $120,087

Year-over-Year Comparison

	2024	2023	Change
Revenue	$100,662	$94,470	+0.1%
Expenses	$120,087	$132,386	-0.1%
Net Income	$-19,425	$-37,916	-0.5%

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

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

$225,541

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KAREN WINNER SED	VICE-PRESIDENT	0.10	Officer Director	$0	$0	$0
FRAN BILLEN	SECRETARY	0.10	Officer Director	$0	$0	$0
BOB LUCAS	PRESIDENT	0.10	Officer Director	$0	$0	$0
ALAN NATHAN	BOARD MEMBER	0.10	Director	$0	$0	$0
LIZETTE OLSEN	TREASURER	0.10	Officer Director	$0	$0	$0
EVELYN VELASQUEZ	BOARD MEMBER	0.10	Director	$0	$0	$0
WILMA TORRES	CEO	0.10	Officer	$0	$20,919	$135,644
MICHELLE CLARKE	CFO	0.10	Officer	$0	$12,049	$89,897

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	$100,662	$120,087	$379,575	$-19,425
2024	$94,470	$132,386	$406,057	$-37,916
2023	$88,582	$112,683	$417,602	$-24,101
2022	$84,980	$109,834	$442,916	$-24,854
2021	$83,161	$97,393	$464,895	$-14,232
2020	$79,163	$95,356	$497,696	$-16,193