RIC LINCOLNTON APARTMENTS INC (EIN 273855098) - 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

2010

Legal Domicile

Principal Officer

KIM MAGUIRE

Phone

7048666766

Tax Period

2023-07-01 to 2024-06-30

RIC LINCOLNTON APARTMENTS INC, founded in 2010, is a micro nonprofit in the Housing & Shelter sector that reported $93K in total revenue in fiscal year 2023. Expenses of $126K exceeded revenue, resulting in a 35% operating deficit.

Mission

TO OWN AND OPERATE A 10-UNIT APARTMENT COMPLEX UNDER SECTION 811 OF THE NATIONAL HOUSING ACT OF 1959.

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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 (2023)

Revenue Breakdown

Contributions & Grants $51,718

Program Service Revenue $38,968

Investment Income $407

Other Revenue $1,945

TOTAL REVENUE $93,038

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $118,241

Other Expenses $125,692

TOTAL EXPENSES $125,692

Year-over-Year Comparison

	2023	2022	Change
Revenue	$93,038	$93,444	0.0%
Expenses	$125,692	$119,866	+0.0%
Net Income	$-32,654	$-26,422	+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

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	Role	Reportable Comp	Other Comp	Total
KIM MAGUIRE	PRESIDENT	Officer Director	$0	$0	$0
TEENA WILLIS	DIRECTOR	Director	$0	$0	$0
TIM FARRIS	DIRECTOR	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	No data	No data	No data	No data
2024	$93,038	$125,692	$1,070,859	$-32,654
2023	$93,444	$119,866	$1,107,753	$-26,422
2022	$91,962	$117,162	$1,137,458	$-25,200
2021	$80,407	$111,513	$1,160,087	$-31,106
2020	$78,989	$112,987	$1,189,842	$-33,998
2019	$79,528	$109,444	$1,221,054	$-29,916

RIC LINCOLNTON APARTMENTS INC