WESTFIELD TOWERS 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

2009

Legal Domicile

Principal Officer

FRAN BILLEN

Phone

7243426222

Tax Period

2024-07-01 to 2025-06-30

WESTFIELD TOWERS INC, founded in 2009, is a small nonprofit in the Housing & Shelter sector that reported $241K in total revenue in fiscal year 2024. Expenses of $385K exceeded revenue, resulting in a 60% operating deficit.

Mission

TO PROVIDE ELDERLY PERSONS AND HANDICAPPED PERSONS WITH HOUSING FACILITIES AND SERVICES SPECIALLY DESIGNED TO MEET THEIR PHYSICAL, SOCIAL AND PSYCHOLOGICAL NEEDS, AND TO PROMOTE THEIR HEALTH, SECURITY, HAPPINESS, AND USEFULNESS IN LONGER LIVING.

Program Service Accomplishments

Program 1

Expenses: $309,832 Revenue: $240,593

OPERATION OF A 40 UNIT APARTMENT COMPLEX FOR ELDERLY INDIVIDUALS WHOSE INCOMES ARE AT OR BELOW 50 PERCENT OF THE MEDIAN INCOME, PROVIDING AFFORDABLE HOUSING FOR OLDER ADULTS.

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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 $238,734

Investment Income $134

Other Revenue $1,859

TOTAL REVENUE $240,727

Expense Breakdown

Grants Paid $0

Salaries & Benefits $47,539

Fundraising Expenses $0

Program Expenses $309,832

Other Expenses $337,743

TOTAL EXPENSES $385,282

Year-over-Year Comparison

	2024	2023	Change
Revenue	$240,727	$244,887	0.0%
Expenses	$385,282	$398,789	0.0%
Net Income	$-144,555	$-153,902	-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

$225,541

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KAREN WINNER SED	VICE-PRESIDENT	0.10	Officer Director	$0	$0	$0
FRAN BILLEN	SECRETARY	0.10	Officer Director	$0	$0	$0
ALAN NATHAN	TREASURER	0.10	Officer Director	$0	$0	$0
BOB LUCAS	PRESIDENT	0.10	Officer Director	$0	$0	$0
EVELYN VELASQUEZ	BOARD MEMBER	0.10	Director	$0	$0	$0
WILMA TORRES	CEO	0.10	Officer	$0	$20,919	$135,644
MICHELLE CLARKE	CFO	0.10	Officer	$0	$12,049	$89,897

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	$240,727	$385,282	$4,029,308	$-144,555
2024	$244,887	$398,789	$4,173,420	$-153,902
2023	$224,703	$366,125	$4,299,412	$-141,422
2022	$224,237	$352,649	$4,437,529	$-128,412
2021	$214,582	$404,403	$4,585,594	$-189,821
2020	$221,308	$351,328	$4,743,049	$-130,020