LILAC GROVE APARTMENTS INC

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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

2006

Legal Domicile

Principal Officer

Clint Thursby

Phone

7153946617

Tax Period

2024-04-01 to 2025-03-31

LILAC GROVE APARTMENTS INC, founded in 2006, is a small nonprofit that reported $169K in total revenue in fiscal year 2024. Revenue surged 73% from the prior year, signaling strong growth momentum. Expenses of $203K exceeded revenue, resulting in a 20% operating deficit.

Mission

Creating homes by bringing safe and affordable housing opportunities to persons with disabilities in accordance with the charitable Works and traditions of the Roman Catholic Church. Works are carried out in accordance with Catholic Social teachings.

Program Service Accomplishments

Program 1

Expenses: $178,205 Revenue: $168,577

14 units of housing for very low income senior citizens whose rents are subsidized by the U. S. Department of Housing and Urban Development which removes the income barrier to affordable housing.

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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 $43,909

Program Service Revenue $57,274

Investment Income $598

Other Revenue $66,796

TOTAL REVENUE $168,577

Expense Breakdown

Grants Paid $0

Salaries & Benefits $31,353

Fundraising Expenses $0

Program Expenses $178,205

Other Expenses $171,779

TOTAL EXPENSES $203,132

Year-over-Year Comparison

	2024	2023	Change
Revenue	$168,577	$97,636	+0.7%
Expenses	$203,132	$137,047	+0.5%
Net Income	$-34,555	$-39,411	-0.1%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Michael Welch	President	1	Officer Director	$0	$0	$0
Dale Johnson	Vice President	1	Officer Director	$0	$0	$0
Sue Blank	Secretary/Treasurer	1	Officer Director	$0	$0	$0
Jeffrey Urbaniak	Board Director	1	Director	$0	$0	$0
Tracy Allen	Board Director	1	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	$168,577	$203,132	$969,363	$-34,555
2024	No data	No data	No data	No data
2023	$86,181	$143,175	$949,069	$-56,994
2022	$84,354	$124,031	$975,816	$-39,677
2021	$79,634	$111,136	$996,875	$-31,502
2020	$81,680	$106,985	$1,025,365	$-25,305
2019	$78,344	$110,178	$1,053,280	$-31,834