NAOMI AND SYLVESTER SMITH SENIOR LIVING CENTER

EIN: 272422815 501(c)(3) Housing & Shelter

CHICAGO, IL

Total Revenue
$1,033,422
Total Expenses
$1,317,519
Total Assets
$8,980,069
Net Assets
$-2,307,899
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2009
Legal Domicile
IL
Principal Officer
WAYNE SMITH
Phone
7732248650
Tax Period
2024-01-01 to 2024-12-31

NAOMI AND SYLVESTER SMITH SENIOR LIVING CENTER, founded in 2009, is a community nonprofit in the Housing & Shelter sector that reported $1.0M in total revenue in fiscal year 2024. Expenses of $1.3M exceeded revenue, resulting in a 27% operating deficit.

Mission

TO PROVIDE AFFORDABLE HOUSING UNDER THE DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT'S SECTION 202.

Program Service Accomplishments

Program 1
Expenses: $1,058,431 Revenue: $1,033,300

TO PROVIDE LOW INCOME HOUSING FOR SENIOR CITIZENS UNDER SECTION 202 OF THE DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT PROGRAM FOR SENIOR CITIZENS.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $1,031,691
Investment Income $122
Other Revenue $1,609
TOTAL REVENUE $1,033,422

Expense Breakdown

Grants Paid $0
Salaries & Benefits $487,331
Fundraising Expenses $0
Program Expenses $1,058,431
Other Expenses $830,188
TOTAL EXPENSES $1,317,519

Year-over-Year Comparison

2024 2023 Change
Revenue $1,033,422 $995,823 +0.0%
Expenses $1,317,519 $1,241,912 +0.1%
Net Income $-284,097 $-246,089 +0.2%
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

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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
8
Independent Members
8
Employees
24
Volunteers
8

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
5
$12,301
Total Directors
8
$12,301
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
WAYNE SMITH PRESIDENT 2.00
Officer Director
$12,301 $0 $12,301
STAN SMITH CHAIRMAN BOARD OF DIRECTOR 2.00
Officer Director
$0 $0 $0
CARLOS NELSON VICE CHAIRMAN 2.00
Officer Director
$0 $0 $0
GERALD HARRIS TREASURER & DIRECTOR 2.00
Officer Director
$0 $0 $0
KEITH PYE SECRETARY & DIRECTOR 2.00
Officer Director
$0 $0 $0
JULIAN COLEMAN DIRECTOR 1.00
Director
$0 $0 $0
VANESSA TALIFERRO DIRECTOR 1.00
Director
$0 $0 $0
SHIRLEY WATKINS DIRECTOR 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
2024 $1,033,422 $1,317,519 $8,980,069 $-284,097
2023 $995,823 $1,241,912 $9,202,042 $-246,089
2022 $945,273 $1,228,070 $9,477,719 $-282,797
2021 $899,172 $1,219,583 $9,772,676 $-320,411
2020 $898,854 $1,157,685 $10,083,291 $-258,831
2019 $911,925 $1,126,862 $10,322,729 $-214,937
2018 $874,761 $1,120,698 $10,547,060 $-245,937
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