THE RESIDENCES AT WOOD STREET (EIN 264252657) - 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

LAWRENCE A SWANSON

Phone

4122812102

Tax Period

2024-07-01 to 2025-06-30

THE RESIDENCES AT WOOD STREET, founded in 2008, is a community nonprofit in the Housing & Shelter sector that reported $2.4M in total revenue in fiscal year 2024. Revenue fell 47% from the prior year — a significant decline worth monitoring. Expenses of $3.3M exceeded revenue, resulting in a 38% operating deficit.

Mission

THE RESIDENCES AT WOOD STREET, A PENNSYLVANIA NOT-FOR-PROFIT CORPORATION, WAS ORGANIZED TO ACQUIRE, OWN AND OPERATE A 16-STORY BUILDING IN DOWNTOWN PITTSBURGH, PENNSYLVANIA WHICH INCLUDES APPROXIMATELY 55,000 SQUARE FEET OF COMMERCIAL SPACE AND 259 UNITS OF SINGLE ROOM OCCUPANCY. THE CORPORATION WAS ESTABLISHED OUT OF A COOPERATION OF PUBLIC AND PRIVATE ENTITIES DEDICATED TO FACILITATING THE CHARITABLE PURPOSE OF PROVIDING HOUSING TO A VULNERABLE POPULATION. EACH ENTITY INVOLVED IS A MEMBER OF THE CORPORATION'S BOARD OF DIRECTORS.

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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 $727,800

Program Service Revenue $1,645,202

Investment Income $1,318

Other Revenue $13,736

TOTAL REVENUE $2,388,056

Expense Breakdown

Grants Paid $0

Salaries & Benefits $528,034

Fundraising Expenses $0

Program Expenses $2,907,903

Other Expenses $2,763,711

TOTAL EXPENSES $3,291,745

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,388,056	$4,510,669	-0.5%
Expenses	$3,291,745	$3,088,498	+0.1%
Net Income	$-903,689	$1,422,171	-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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LAWRENCE A SWANSON	PRESIDENT	2.00	Officer Director	$0	$0	$0
LAURI FINK	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
THOMAS E CUMMINGS	TREASURER	2.00	Officer Director	$0	$0	$0
CASSANDRA COLLINGE	SECRETARY	1.00	Officer Director	$0	$0	$0
JOHN KROLICKI	BOARD MEMBER	1.00	Director	$0	$0	$0
ALICIA ROMANO	BOARD MEMBER	1.00	Director	$0	$0	$0
JODI LINCOLN	BOARD MEMBER	1.00	Director	$0	$0	$0
DAVID GEIGER	BOARD MEMBER	1.00	Director	$0	$0	$0
ELLEN DUFFIELD	BOARD MEMBER	1.00	Director	$0	$0	$0
CHRISTINA FARMARTINO	BOARD MEMBER	1.00	Director	$0	$0	$0
COLLIN MCWHERTER	BOARD MEMBER	1.00	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	$2,388,056	$3,291,745	$17,748,723	$-903,689
2024	No data	No data	No data	No data
2023	$3,548,873	$2,796,067	$17,360,835	$752,806
2022	$1,205,694	$2,316,191	$18,062,109	$-1,110,497
2021	$1,638,543	$1,826,272	$16,726,239	$-187,729
2020	$2,045,517	$1,972,595	$16,597,640	$72,922
2019	$4,633,275	$1,830,256	$16,298,939	$2,803,019
2018	$1,943,816	$1,916,423	$13,362,277	$27,393

THE RESIDENCES AT WOOD STREET