PPL PROPERTIES (EIN 274235225) - 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

SCOTT CORDES

Phone

6124555100

Tax Period

2023-01-01 to 2023-12-31

PPL PROPERTIES, founded in 2010, is a community nonprofit in the Housing & Shelter sector that reported $6.7M in total revenue in fiscal year 2023. Revenue fell 36% from the prior year — a significant decline worth monitoring. Expenses of $12.2M exceeded revenue, resulting in a 83% operating deficit.

Mission

PPL PROPERTIES HAS BEEN FORMED AS A SUPPORTING ORGANIZATION TO A NONPROFIT, TAX-EXEMPT CHARITABLE MINNESOTA CORPORATION, PROJECT FOR PRIDE IN LIVING, INC. (PPL). THE MISSION OF PPL IS TO WORK WITH LOWER-INCOME INDIVIDUALS AND FAMILIES TO ACHIEVE GREATER SELF-SUFFICIENCY THROUGH HOUSING, EMPLOYMENT TRAINING, EDUCATION AND SUPPORT SERVICES. TO THIS END, PPL PROPERTIES SHALL OWN MEMBERSHIP INTERESTS IN LIMITED LIABILITY COMPANIES THAT HOLD AND MANAGE REAL ESTATE DEVOTED TO USE AS AFFORDABLE HOUSING FOR LOWER-INCOME INDIVIDUALS AND FAMILIES. PPL PROPERTIES ALSO PARTICIPATES AS A PARTNER IN GENERAL AND/OR LIMITED PARTNERSHIPS THAT OWN AND MANAGE REAL PROPERTY, ALL FOR THE BENEFIT OF PPL.

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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 $41,687

Program Service Revenue $6,583,550

Investment Income $69,365

Other Revenue $0

TOTAL REVENUE $6,694,602

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $12,222,325

Other Expenses $12,222,325

TOTAL EXPENSES $12,222,325

Year-over-Year Comparison

	2023	2022	Change
Revenue	$6,694,602	$10,418,182	-0.4%
Expenses	$12,222,325	$10,257,593	+0.2%
Net Income	$-5,527,723	$160,589	-35.4%

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

N/A

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

$933,724

Total Directors

$933,724

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL LAFAVE	PRESIDENT THROUGH OCTOBER 2023	5.00	Officer Director	$0	$4,451	$176,520
PAUL WILLIAMS	VICE PRESIDENT	2.00	Officer Director	$0	$31,148	$395,104
SCOTT CORDES	TREASURER	2.00	Officer Director	$0	$10,650	$250,706
LESLIE SEABERG	SECRETARY	2.00	Officer Director	$0	$12,488	$111,394

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	No data	No data	No data	No data
2023	$6,694,602	$12,222,325	$104,884,681	$-5,527,723
2022	$10,418,182	$10,257,593	$82,919,180	$160,589
2021	$5,681,463	$8,787,261	$55,862,410	$-3,105,798
2020	$5,684,477	$6,984,695	$49,934,150	$-1,300,218
2019	$8,053,328	$8,276,812	$41,201,305	$-223,484
2018	$3,940,657	$5,822,167	$40,143,675	$-1,881,510

PPL PROPERTIES