FLAGSHIP CITY APARTMENTS INC

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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

2012

Legal Domicile

Principal Officer

MATTHEW W GOOD

Phone

8144533333

Tax Period

2024-04-01 to 2025-03-31

FLAGSHIP CITY APARTMENTS INC, founded in 2012, is a micro nonprofit in the Housing & Shelter sector that reported $98K in total revenue in fiscal year 2024. Revenue surged 46% from the prior year, signaling strong growth momentum. Expenses of $143K exceeded revenue, resulting in a 46% operating deficit.

Mission

TO PROVIDE AND MAINTAIN AFFORDABLE APARTMENT HOMES FOR ADULT EXPERIENCING CHRONIC MENTAL ILLNESS

Program Service Accomplishments

Program 1

Expenses: $125,897 Revenue: $44,903

FLAGSHIP CITY APARTMENTS, THROUGH ITS MANAGEMENT AGENT HOUSING AND NEIGHBORHOOD DEVELOPMENT SERVICE (HANDS), PROVIDES ATTRACTIVE AND AFFORDABLE RENTAL HOUSING FOR INDIVIDUALS EXPERIENCING CHRONIC...

FLAGSHIP CITY APARTMENTS, THROUGH ITS MANAGEMENT AGENT HOUSING AND NEIGHBORHOOD DEVELOPMENT SERVICE (HANDS), PROVIDES ATTRACTIVE AND AFFORDABLE RENTAL HOUSING FOR INDIVIDUALS EXPERIENCING CHRONIC MENTAL ILLNESS WHO HAVE INCOME AT OR BELOW 50% OF THE AREA MEDIAN INCOME.

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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 $51,295

Program Service Revenue $44,631

Investment Income $1,563

Other Revenue $272

TOTAL REVENUE $97,761

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $125,897

Other Expenses $142,688

TOTAL EXPENSES $142,688

Year-over-Year Comparison

	2024	2023	Change
Revenue	$97,761	$67,070	+0.5%
Expenses	$142,688	$153,382	-0.1%
Net Income	$-44,927	$-86,312	-0.5%

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

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
MELISSA GRUCZA	CHAIR	1.00	Officer Director	$0	$0	$0
JOE BLOOMSTINE	VICE CHAIR	1.00	Officer Director	$0	$0	$0
MARIANNE STUCKERT SSJ	SECRETARY	1.00	Officer Director	$0	$0	$0
CINDY STONE	TREASURER	1.00	Officer Director	$0	$0	$0
ALMITRA CLERKIN	DIRECTOR THROUGH APR 2024	1.00	Director	$0	$0	$0
MICHELLE HARKINS	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL JARUSZEWICZ	DIRECTOR	1.00	Director	$0	$0	$0
DOUG MASSEY	DIRECTOR FROM APR 2024	1.00	Director	$0	$0	$0
SHARON RICHARDSON	DIRECTOR	1.00	Director	$0	$0	$0
CECILIA SHATEM	DIRECTOR	1.00	Director	$0	$0	$0
RICK SHERBONDY	DIRECTOR FROM MAY 2024	1.00	Director	$0	$0	$0
JOHN VANTASSEL	DIRECTOR	1.00	Director	$0	$0	$0
JOHN VILLA	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
2025	$97,761	$142,688	$1,462,934	$-44,927
2024	$67,070	$153,382	$1,521,067	$-86,312
2023	$91,734	$126,069	$1,574,621	$-34,335
2022	$80,870	$128,866	$1,604,097	$-47,996
2021	$85,724	$155,329	$1,656,740	$-69,605
2020	$79,626	$116,645	$1,713,120	$-37,019
2019	$89,650	$109,078	$1,746,917	$-19,428