INDEPENDENCE APARTMENTS INC (EIN 311644449) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1999

Principal Officer

CCARL SCHULTZ

Phone

5012800037

Tax Period

2024-07-01 to 2025-06-30

INDEPENDENCE APARTMENTS INC, founded in 2002, is a micro nonprofit in the Housing & Shelter sector that reported $71K in total revenue in fiscal year 2017. Expenses of $97K exceeded revenue, resulting in a 37% operating deficit.

Mission

PROVIDE LOW-INCOME HOUSING TO FAMILIES LOCATED IN BATESVILLE, ARKANSAS UNDER U.S. DEPARTMENT OF HOUSING & URBAN DEVELOPMENT GUIDELINES.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $126,920

Investment Income $62

Other Revenue $0

TOTAL REVENUE $126,982

Expense Breakdown

Grants Paid $0

Salaries & Benefits $30,245

Fundraising Expenses $0

Program Expenses $116,938

Other Expenses $120,794

TOTAL EXPENSES $151,039

Year-over-Year Comparison

	2024	2023	Change
Revenue	$126,982	$123,661	+0.0%
Expenses	$151,039	$121,841	+0.2%
Net Income	$-24,057	$1,820	-14.2%

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
CCARL SCHULTZ	PRESIDENT	N/A	Officer Director	$0	$0	$0
CYNTHIA WHEELER	SECRETARY	N/A	Officer Director	$0	$0	$0
JEFFREY OWENS	TREASURER	N/A	Officer 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	$126,982	$151,039	$485,384	$-24,057
2024	$123,661	$121,841	$511,324	$1,820
2023	$118,145	$148,027	$513,949	$-29,882
2022	$112,626	$127,242	$556,404	$-14,616
2021	$110,776	$131,051	$553,654	$-20,275
2020	$95,228	$119,023	$572,131	$-23,795
2019	$72,349	$82,421	$594,392	$-10,072
2018	$71,182	$97,179	$612,478	$-25,997

INDEPENDENCE APARTMENTS INC