GARDEN COURT DOWNTOWN INC

EIN: 311209165 501(c)(3) Housing & Shelter

SOUTH BEND, IN

Total Revenue
$347,997
Total Expenses
$334,036
Total Assets
$467,637
Net Assets
$-324,638
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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
1987
Legal Domicile
IN
Principal Officer
JOHN MYERS
Phone
2192349923
Tax Period
2024-07-01 to 2025-06-30

GARDEN COURT DOWNTOWN INC, founded in 1987, is a small nonprofit in the Housing & Shelter sector that reported $348K in total revenue in fiscal year 2024. Expenses of $334K left a modest 4% surplus.

Mission

GARDEN COURT DOWNTOWN, INC. IS AN INDIANA NOT-FOR-PROFIT AND WAS ORGANIZED TO CONSTRUCT, OWN AND OPERATE A 30 UNIT APARTMENT COMPLEX IN NEW ALBANY, INDIANA KNOWN AS GARDEN COURT DOWNTOWN. IT WAS ORGANIZED PURSUANT TO SECTION 202 OF THE NATIONAL HOUSING ACT AS AMENDED. THE ORGANIZATION HAS EXECUTED THE STANDARD REGULATORY AGREEMENTS WITH HUD THAT GOVERN THE OPERATIONS OF THE COMMUNITY WITH THE FEDERAL HOUSING ADMINISTRATION (FHA). IN ADDITION, THE CORPORATION HAS ALSO ENTERED INTO A HOUSING ASSISTANCE PAYMENT (HAP) CONTRACT WITH HUD. THE HAP CONTRACT IS A RENT ASSISTANCE PROGRAM FOR LOW INCOME FAMILIES OR PERSONS AS PROVIDED BY SECTION 8 OF THE NATIONAL HOUSING ACT.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $219,955
Program Service Revenue $121,696
Investment Income $2,169
Other Revenue $4,177
TOTAL REVENUE $347,997

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $215,921
Other Expenses $334,036
TOTAL EXPENSES $334,036

Year-over-Year Comparison

2024 2023 Change
Revenue $347,997 $324,000 +0.1%
Expenses $334,036 $310,426 +0.1%
Net Income $13,961 $13,574 +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

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Governance

Voting Members
10
Independent Members
10
Employees
N/A
Volunteers
10

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
3
$0
Total Directors
11
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JOHN MYERS PRESIDENT 0.50
Officer Director
$0 $0 $0
DIANN PARSONS VICE PRESIDENT 0.50
Officer Director
$0 $0 $0
KAREN GEHRKE SECRETARY 0.50
Officer Director
$0 $0 $0
LORETTA PETERS BOARD MEMBER 0.50
Director
$0 $0 $0
LORI PARRISH BOARD MEMBER 0.50
Director
$0 $0 $0
MARY KAUFMAN BOARD MEMBER 0.50
Director
$0 $0 $0
SARAH SMITH BOARD MEMBER 0.50
Director
$0 $0 $0
SHARON BALKA BOARD MEMBER 0.50
Director
$0 $0 $0
SUSAN EHLERT BOARD MEMBER 0.50
Director
$0 $0 $0
MATT COTTRILL BOARD MEMBER 0.50
Director
$0 $0 $0
MARK COTTRILL BOARD 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
2025 $347,997 $334,036 $467,637 $13,961
2024 $324,000 $310,426 $477,072 $13,574
2023 $310,691 $297,189 $497,986 $13,502
2022 $311,997 $298,285 $502,176 $13,712
2021 $298,590 $289,823 $529,121 $8,767
2020 $307,635 $290,220 $534,932 $17,415
2019 $295,605 $308,838 $555,159 $-13,233
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