PALERMO LAKES INC (EIN 300250767) - 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

2004

Legal Domicile

Principal Officer

MELANIE RIBEIRO

Phone

9548359200

Tax Period

2024-01-01 to 2024-12-31

PALERMO LAKES INC, founded in 2004, is a small nonprofit in the Housing & Shelter sector that reported $926K in total revenue in fiscal year 2024. Expenses of $1.4M exceeded revenue, resulting in a 47% operating deficit.

Mission

OPERATION OF LOW INCOME HOUSING FOR THE ELDERLY AND HANDICAPPED, REGULATED AND ASSISTED BY THE DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD).

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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 $0

Program Service Revenue $909,845

Investment Income $16,123

Other Revenue $284

TOTAL REVENUE $926,252

Expense Breakdown

Grants Paid $0

Salaries & Benefits $383,144

Fundraising Expenses $0

Program Expenses $850,127

Other Expenses $976,307

TOTAL EXPENSES $1,359,451

Year-over-Year Comparison

	2024	2023	Change
Revenue	$926,252	$923,244	+0.0%
Expenses	$1,359,451	$1,349,328	+0.0%
Net Income	$-433,199	$-426,084	+0.0%

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

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

$521,004

Total Directors

$547,545

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MELANIE RIBEIRO	VICE PRESIDE	0.70	Officer Director	$0	$75,384	$521,004
JOHN OLSEN	DIRECTOR	0.50	Director	$0	$0	$26,541
MARIA CORDONE	SECRETARY	0.30	Officer Director	$0	$0	$0
LISA DAVIS	DIRECTOR	0.10	Director	$0	$0	$0
SHERWOOD DUBOSE	DIRECTOR	0.10	Director	$0	$0	$0
TONY FRANSETTA	DIRECTOR	0.10	Director	$0	$0	$0
ERICA SCHMELZER	TREASURER	0.40	Officer Director	$0	$0	$0
CHRISTOPHER SHELTON	PRESIDENT	0.50	Officer 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
2024	$926,252	$1,359,451	$10,228,072	$-433,199
2023	$923,244	$1,349,328	$10,563,297	$-426,084
2022	$839,340	$1,283,249	$10,839,596	$-443,909
2021	$833,340	$1,153,000	$11,048,327	$-319,660
2020	$808,045	$1,087,192	$11,340,095	$-279,147
2019	$776,507	$1,101,053	$11,658,613	$-324,546
2018	$733,691	$1,060,537	$11,989,105	$-326,846

PALERMO LAKES INC