SPRINGVALE TERRACE INC C/O SEABURY RESOURCES FOR AGING

EIN: 300185120 501(c)(3) Housing & Shelter

WASHINGTON, DC

Total Revenue
$368,647
Total Expenses
$2,461,546
Total Assets
$3,901,597
Net Assets
$-7,934,180
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2003
Legal Domicile
MD
Principal Officer
DAWN QUATTLEBAUM
Phone
2024146310
Tax Period
2023-10-01 to 2024-09-30

SPRINGVALE TERRACE INC C/O SEABURY RESOURCES FOR AGING, founded in 2003, is a small nonprofit in the Housing & Shelter sector that reported $369K in total revenue in fiscal year 2023. Revenue fell 82% from the prior year — a significant decline worth monitoring. Expenses of $2.5M exceeded revenue, resulting in a 568% operating deficit.

Mission

TO PROVIDE AFFORDABLE HOUSING AND RELATED RESIDENT SERVICES TO THE ELDERLY UNDER SECTION 232 OF THE NATIONAL HOUSING ACT.

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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 (2023)

Revenue Breakdown

Contributions & Grants $52,792
Program Service Revenue $306,913
Investment Income $331
Other Revenue $8,611
TOTAL REVENUE $368,647

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $1,783,159
Other Expenses $2,461,546
TOTAL EXPENSES $2,461,546

Year-over-Year Comparison

2023 2022 Change
Revenue $368,647 $2,091,890 -0.8%
Expenses $2,461,546 $3,762,373 -0.3%
Net Income $-2,092,899 $-1,670,483 +0.3%
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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Governance

Voting Members
22
Independent Members
22
Employees
N/A
Volunteers
23

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
9
$521,768
Total Directors
24
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CRAIG MCCULLOUGH PRESIDENT 0.10
Officer Director
$0 $0 $0
MARCUS BRAXTON VICE PRESIDENT 0.10
Officer Director
$0 $0 $0
KEVIN WHITLEY TRESURER 0.10
Officer Director
$0 $0 $0
LECIA IMBERY SECRETARY 0.10
Officer Director
$0 $0 $0
MARTI BAILEY VICE PRESIDENT THRU 6/19/24 0.10
Officer Director
$0 $0 $0
MICHAEL BOCHNOVIC DIRECTOR 0.10
Director
$0 $0 $0
MICHAEL COLLINS DIRECTOR 0.10
Director
$0 $0 $0
CHRIS GARDNER DIRECTOR 0.10
Director
$0 $0 $0
JOSEPH HOWELL DIRECTOR 0.10
Director
$0 $0 $0
WAHEED HASSAN DIRECTOR 0.10
Director
$0 $0 $0
NIKHIL KUMTHA DIRECTOR 0.10
Director
$0 $0 $0
KIMBERLY MIKEC DIRECTOR 0.10
Director
$0 $0 $0
RT REV MARIANN EDGAR BUDDE DIRECTOR 0.10
Director
$0 $0 $0
MONTE MONASH DIRECTOR 0.10
Director
$0 $0 $0
NICK NICHOLSON DIRECTOR 0.10
Director
$0 $0 $0
MICHELLE RHODD DIRECTOR 0.10
Director
$0 $0 $0
MEGAN ROBERTSON ESQ DIRECTOR 0.10
Director
$0 $0 $0
SHARON SELLERS DIRECTOR 0.10
Director
$0 $0 $0
DAVID SHEPARD DIRECTOR 0.10
Director
$0 $0 $0
ELISSA SILVERMAN DIRECTOR 0.10
Director
$0 $0 $0
DIANA A SALADINI MA DIRECTOR 0.10
Director
$0 $0 $0
SOHAER RIZVI SYED DIRECTOR 0.10
Director
$0 $0 $0
SUSAN SPURLARK DIRECTOR 0.10
Director
$0 $0 $0
SUZANNE K WELCH ESQ DIRECTOR 0.10
Director
$0 $0 $0
DAWN QUATTLEBAUM CEO 5.00
Officer
$0 $21,998 $206,267
REGINALD RAY COO AS OF MAY 2024 5.00
Officer
$0 $0 $0
BELINDA DAVIS MANAGING DIRECTOR OF FINANCE 5.00
Officer
$0 $12,844 $158,910
KATRINA LEWIS COO/CAO THRU 6/27/2024 5.00
Officer
$0 $10,734 $156,591
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 $368,647 $2,461,546 $3,901,597 $-2,092,899
2023 $2,091,890 $3,762,373 $4,319,719 $-1,670,483
2022 $3,226,400 $4,473,470 $4,753,837 $-1,247,070
2021 $3,321,212 $4,425,474 $5,009,400 $-1,104,262
2020 $3,109,561 $4,466,665 $5,520,016 $-1,357,104
2019 $3,610,679 $4,931,627 $6,312,714 $-1,320,948
2018 $3,772,493 $4,381,088 $6,989,241 $-608,595
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