1602 SOUTH STAPLES HOUSING INC (EIN 263674070) - Form 990 Financial Analysis & Trantor Score

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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

2008

Legal Domicile

Principal Officer

JUDY TELDGE

Phone

2105310577

Tax Period

2022-01-01 to 2022-12-31

1602 SOUTH STAPLES HOUSING INC, founded in 2008, is a micro nonprofit that reported $82K in total revenue in fiscal year 2022. Revenue surged 87% from the prior year, signaling strong growth momentum. The organization ran a surplus of $17K, a strong 20% operating margin.

Mission

THE CORPORATION IS A NONPROFIT CORPORATION ORGANIZED UNDER THE LAWS OF TEXAS ON AUGUST 11, 2008, FOR THE PURPOSE OF DEVELOPING AND OPERATING AN APARTMENT COMPLEX OF 6 UNITS FOR DEVELOPMENTALLY DISADVANTAGED CITIZENS IN CORPUS CHRISTI, TEXAS. THE PROJECT WILL OPERATE UNDER THE PROVISIONS OF SECTION 811 OF THE NATIONAL HOUSING ACT AND REGULATED BY THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD). SUCH PROJECTS ARE REGULATED BY HUD AS TO RENT CHARGES AND OPERATING METHODS. THE CONSTRUCTION WAS COMPLETED IN SEPTEMBER 2010. RENT ON THE APARTMENT UNITS BEGAN ON NOVEMBER 2010.

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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 (2022)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $81,745

Investment Income $14

Other Revenue $0

TOTAL REVENUE $81,759

Expense Breakdown

Grants Paid $0

Salaries & Benefits $16,495

Fundraising Expenses $0

Program Expenses $56,484

Other Expenses $48,671

TOTAL EXPENSES $65,166

Year-over-Year Comparison

	2022	2021	Change
Revenue	$81,759	$43,631	+0.9%
Expenses	$65,166	$70,437	-0.1%
Net Income	$16,593	$-26,806	-1.6%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DANIEL GALLEGOS	DIRECTOR	1.00	Director	$0	$0	$0
FERNANDO ACOSTA	SECRETARY-TR	1.00	Officer	$0	$0	$0
JUDY TELDGE	PRESIDENT	1.00	Officer	$0	$0	$0
DAVID WALKER	VICE PRESIDE	1.00	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
2022	$81,759	$65,166	$469,649	$16,593
2021	$43,631	$70,437	$486,631	$-26,806
2020	$47,537	$64,679	$499,017	$-17,142
2019	$48,008	$67,711	$512,828	$-19,703
2018	$48,590	$63,118	$523,449	$-14,528

1602 SOUTH STAPLES HOUSING INC