RIDGE OAK III INC

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

2010

Legal Domicile

Principal Officer

BONNIE KELLY

Phone

9082210266

Tax Period

2024-07-01 to 2025-06-30

RIDGE OAK III INC, founded in 2010, is a small nonprofit in the Housing & Shelter sector that reported $332K in total revenue in fiscal year 2024. Expenses of $400K exceeded revenue, resulting in a 20% operating deficit.

Mission

TO OPERATE A RESIDENTIAL RENTAL HOUSING PROJECT IN BASKING RIDGE, NJ FOR LOW INCOME ELDERLY PERSONS.

Program Service Accomplishments

Program 1

Expenses: $321,739 Revenue: $323,880

PROVISION OF 20 UNITS FOR HOUSING AND RELATED SERVICES FOR THE ELDERLY IN BASKING RIDGE, NJ PURSUANT TO SECTION 202 OF THE US HOUSING ACT OF 1959 AS AMENDED.

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $323,880

Investment Income $7,950

Other Revenue $0

TOTAL REVENUE $331,830

Expense Breakdown

Grants Paid $0

Salaries & Benefits $91,152

Fundraising Expenses $0

Program Expenses $321,739

Other Expenses $308,371

TOTAL EXPENSES $399,523

Year-over-Year Comparison

	2024	2023	Change
Revenue	$331,830	$310,425	+0.1%
Expenses	$399,523	$376,138	+0.1%
Net Income	$-67,693	$-65,713	+0.0%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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

$255,355

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BOB TALLAKSEN	TRUSTEE	0.30	Director	$0	$0	$0
BRUCE MCARTHUR	TRUSTEE	0.30	Director	$0	$0	$0
NORMAN GRAFF	TREASURER	1.00	Officer Director	$0	$0	$0
PAMELA BOWMAN	SECRETARY	1.00	Officer Director	$0	$0	$0
SUSAN PAPE	TRUSTEE	0.30	Director	$0	$0	$0
DENISE SZABO	TRUSTEE	0.30	Director	$0	$0	$0
VINCENT BAKER	PRESIDENT	1.00	Officer Director	$0	$0	$0
DEBORAH KNAPP	TRUSTEE	0.30	Director	$0	$0	$0
TRACIE MALLEO	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
BONNIE KELLY	EXECUTIVE DIRECTOR	10.00	Officer	$0	$61,663	$255,355
COREY HOVANEC	DIRECTOR OF OPERATIONS	10.00	Highest	$0	$34,367	$141,144
SUSAN COHN	DIRECTOR OF ADMINISTRATION & HOUSING	10.00	Highest	$0	$12,004	$128,120
MICHAEL PALANCHI	DIRECTOR OF FACILITIES	10.00	Highest	$0	$44,660	$150,343
PATRICIA GOULDEN	DIRECTOR OF FINANCE	10.00	Highest	$0	$12,053	$116,177

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	$331,830	$399,523	$3,481,222	$-67,693
2024	$310,425	$376,138	$3,543,526	$-65,713
2023	$270,434	$372,138	$3,601,879	$-101,704
2022	$254,676	$353,551	$3,728,132	$-98,875
2021	$252,842	$344,657	$3,821,198	$-91,815
2020	$248,181	$342,475	$3,901,997	$-94,294
2019	$240,664	$338,201	$4,000,703	$-97,537
2018	$228,540	$327,453	$4,109,504	$-98,913