SPRINGVALE TERRACE INC C/O SEABURY… - Form 990 Financial Data

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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

2003

Legal Domicile

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.

Program Service Accomplishments

Program 1

Expenses: $1,783,159 Revenue: $306,913

SPRINGVALE TERRACE, INC. WAS ORGANIZED ON APRIL 23, 2003 UNDER THE PROVISIONS OF THE STATE OF MARYLAND FOR THE PURPOSE OF PURCHASING AND OPERATING HOUSING AND RELATED FACILITIES FOR THE ELDERLY. THE ORGANIZATION WAS FINANCED THROUGH THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT UNDER SECTION 232 OF THE NATIONAL AFFORDABLE HOUSING ACT AND CONSISTS OF 146 UNITS. IN ADDITION TO THE RENTAL HOUSING OPERATIONS, THE ENTITY OPERATES CARE SERVICES PROGRAMS FOR AN ADDITIONAL FEE THAT INCLUDE CONGREGATE HOUSING SERVICES CERTIFIED BY THE MARYLAND DEPARTMENT OF AGING AND ASSISTED LIVING SERVICES LICENSED BY THE MARYLAND DEPARTMENT OF HEALTH AND MENTAL HYGIENE. AS OF APRIL 2024, THE ORGANIZATION STOPPED LEASING UNITS TO TENANTS.

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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 $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

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

$521,768

Total Directors

Key Employees

Highest Compensated

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

SPRINGVALE TERRACE INC C/O SEABURY RESOURCES FOR AGING