Somerset Lane 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

1985

Legal Domicile

Principal Officer

William Moorhead

Phone

6148184640

Tax Period

2023-01-01 to 2023-12-31

Somerset Lane Inc, founded in 1985, is a small nonprofit that reported $245K in total revenue in fiscal year 2023. Revenue fell 41% from the prior year — a significant decline worth monitoring. Expenses of $415K exceeded revenue, resulting in a 70% operating deficit.

Mission

The nonprofit organization owned real estate in the form of an apartment complex for the elderly & handicapped under Section 202 The Project was sold in 2023.

Program Service Accomplishments

Program 1

Expenses: $358,742 Revenue: $244,228

The Nonprofit organization owned real estate in the form of an apartment complex for the elderly & handicapped under section 202 of the National Housing Act. Rent supplements are received by HUD. The...

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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 $0

Program Service Revenue $244,228

Investment Income $442

Other Revenue $0

TOTAL REVENUE $244,670

Expense Breakdown

Grants Paid $0

Salaries & Benefits $60,552

Fundraising Expenses $0

Program Expenses $358,742

Other Expenses $354,455

TOTAL EXPENSES $415,007

Year-over-Year Comparison

	2023	2022	Change
Revenue	$244,670	$413,348	-0.4%
Expenses	$415,007	$485,590	-0.1%
Net Income	$-170,337	$-72,242	+1.4%

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

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
William Moorhead	President	1.00	Officer	$0	$0	$0
Melissa Steel	Secretary	1.00	Officer	$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
2023	$244,670	$415,007	No data	$-170,337
2022	$413,348	$485,590	$730,873	$-72,242
2021	$420,309	$408,401	$777,796	$11,908
2020	$414,021	$427,378	$812,202	$-13,357
2019	$400,374	$404,143	$838,633	$-3,769
2018	$398,895	$464,201	$878,621	$-65,306