INDEPENDENCE PARK SENIOR HOUSING I… - Form 990 Financial Data

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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

2004

Legal Domicile

Principal Officer

RICHARD HENNINGSEN

Phone

5032314922

Tax Period

2024-07-01 to 2025-06-30

INDEPENDENCE PARK SENIOR HOUSING INC, founded in 2004, is a small nonprofit in the Housing & Shelter sector that reported $239K in total revenue in fiscal year 2024. Expenses of $326K exceeded revenue, resulting in a 36% operating deficit.

Mission

PROVIDE AFFORDABLE HOUSING FOR ELDERLY AND OTHER LOW INCOME INDIVIDUALS.

Program Service Accomplishments

Program 1

Expenses: $326,045 Revenue: $239,018

PROVIDED AFFORDABLE HOUSING FOR ELDERLY AND OTHER LOW INCOME RESIDENTS, BENEFITING APPROXIMATELY 19 INDIVIDUALS AND FAMILIES.

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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 $239,018

Investment Income $13

Other Revenue $0

TOTAL REVENUE $239,031

Expense Breakdown

Grants Paid $0

Salaries & Benefits $66,877

Fundraising Expenses $0

Program Expenses $326,045

Other Expenses $259,168

TOTAL EXPENSES $326,045

Year-over-Year Comparison

	2024	2023	Change
Revenue	$239,031	$231,977	+0.0%
Expenses	$326,045	$327,550	0.0%
Net Income	$-87,014	$-95,573	-0.1%

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

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
BARBARA HENNINGSEN	DIRECTOR	N/A	Director	$0	$0	$0
RICHARD HENNINGSEN	PRESIDENT	N/A	Director	$0	$0	$0
DORA SORIA	SECRETARY/TR	N/A	Director	$0	$0	$0
JOYCE VARNER	DIRECTOR	N/A	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	$239,031	$326,045	$1,848,235	$-87,014
2024	$231,977	$327,550	$1,937,345	$-95,573
2023	$237,359	$315,811	$2,029,639	$-78,452
2022	$212,672	$304,095	$2,123,057	$-91,423
2021	$210,030	$295,768	$2,215,898	$-85,738
2020	$189,081	$287,389	$2,300,619	$-98,308
2019	$187,486	$270,550	$2,400,062	$-83,064

INDEPENDENCE PARK SENIOR HOUSING INC