EDISON 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

1970

Legal Domicile

Principal Officer

SYLVESTER BROWN

Phone

5136215452

Tax Period

2021-10-01 to 2022-09-30

EDISON APARTMENTS INC, founded in 1970, is a small nonprofit that reported $515K in total revenue in fiscal year 2021. Revenue surged 173% from the prior year, signaling strong growth momentum. Expenses of $712K exceeded revenue, resulting in a 38% operating deficit.

Mission

TO PROVIDE, ON A NONPROFIT BASIS, HOUSING FOR LOW AND MODERATE INCOME FAMILIES AND FAMILIES DISPLACED FROM URBAN RENEWED AREAS OR AS A RESULT OF GOVERNMENTAL ACTIONS, WHERE NO ADEQUATE HOUSING EXISTS FOR SUCH GROUPS, PURSUANT TO SECTION 221(D)(3) AND 236 OF THE NATIONAL HOUSING ACT, AS AMENDED.

Program Service Accomplishments

Program 1

Expenses: $679,170 Revenue: $37,365

EDISON APARTMENTS, INC. OWNS, OPERATES AND MAINTAINS A HOUSING FACILITY FOR LOW AND MODERATE INCOME FAMILIES. THE PROJECT IS KNOWN AS EDISON APARTMENTS, A 25-UNIT HOUSING FACILITY LOCATED IN...

EDISON APARTMENTS, INC. OWNS, OPERATES AND MAINTAINS A HOUSING FACILITY FOR LOW AND MODERATE INCOME FAMILIES. THE PROJECT IS KNOWN AS EDISON APARTMENTS, A 25-UNIT HOUSING FACILITY LOCATED IN CINCINNATI, OHIO. THE PROJECT RECEIVES SECTION 8 RENTAL SUBSIDY AND THEREFORE IS REGULATED BY HUD AS TO RENT CHARGES.

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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 (2021)

Revenue Breakdown

Contributions & Grants $115,413

Program Service Revenue $36,446

Investment Income $362,576

Other Revenue $919

TOTAL REVENUE $515,354

Expense Breakdown

Grants Paid $543,381

Salaries & Benefits $20,772

Fundraising Expenses $0

Program Expenses $679,170

Other Expenses $148,124

TOTAL EXPENSES $712,277

Year-over-Year Comparison

	2021	2020	Change
Revenue	$515,354	$188,843	+1.7%
Expenses	$712,277	$190,168	+2.7%
Net Income	$-196,923	$-1,325	+147.6%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SYLVESTER BROWN	PRESIDENT	1.00	Officer Director	$0	$0	$0
PAULETTE TRIBBLE	SECRETARY	1.00	Officer Director	$0	$0	$0
ANTHONY MCMILLER	MEMBER	0.50	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
2022	$515,354	$712,277	No data	$-196,923