FRIENDLY TEMPLE 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

2002

Legal Domicile

Principal Officer

JOSEPH GIRARDI

Phone

3147260111

Tax Period

2023-01-01 to 2023-12-31

FRIENDLY TEMPLE APARTMENTS INC, founded in 2002, is a small nonprofit in the Human Services sector that reported $443K in total revenue in fiscal year 2023. Expenses of $562K exceeded revenue, resulting in a 27% operating deficit.

Mission

LOW INCOME HOUSING

Program Service Accomplishments

Program 1

Expenses: $471,513 Revenue: $434,027

FRIENDLY TEMPLE APARTMENTS IS A NON-PROFIT CORPORATION ESTABLISHED TO PROVIDE ELDERLY AND DISABLED PERSONS WITH HOUSING UTILIZING FUNDS PROVIDED BY A CAPITAL ADVANCE UNDER SECTION 202 OF THE NATIONAL HOUSING ACT OF 1959, AS AMENDED. THE CAPITAL ADVANCE REQUIREMENTS ARE IN COMPLIANCE WITH THE PROVISIONS AND REGULATIONS OF THE 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%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $434,027

Investment Income $952

Other Revenue $7,629

TOTAL REVENUE $442,608

Expense Breakdown

Grants Paid $0

Salaries & Benefits $67,911

Fundraising Expenses $0

Program Expenses $471,513

Other Expenses $494,578

TOTAL EXPENSES $562,489

Year-over-Year Comparison

	2023	2022	Change
Revenue	$442,608	$419,810	+0.1%
Expenses	$562,489	$509,059	+0.1%
Net Income	$-119,881	$-89,249	+0.3%

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
LISA CALLIOTT	BOARD MEMBER	1.00	Director	$0	$0	$0
BELINDA FARRINGTON	BOARD MEMBER	1.00	Director	$0	$0	$0
BILL HOLMAN	BOARD MEMBER	1.00	Director	$0	$0	$0
DEACON JAMES JOINER	BOARD MEMBER	1.00	Director	$0	$0	$0
BISHOP MICHAEL JONES	CHAIR	1.00	Officer Director	$0	$0	$0
SCOTT LYNAM	BOARD MEMBER	1.00	Director	$0	$0	$0
SHELLY MATHON	BOARD MEMBER	1.00	Director	$0	$0	$0
THEODORE WINTERS	BOARD MEMBER	1.00	Director	$0	$0	$0
JOSEPH GIRARDI	CFO	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
2024	No data	No data	No data	No data
2023	$442,608	$562,489	$2,888,607	$-119,881
2022	$419,810	$509,059	$2,997,644	$-89,249
2021	$409,396	$535,719	$3,080,584	$-126,323
2020	$389,339	$495,730	$3,188,114	$-106,391
2019	$437,308	$449,331	$3,315,899	$-12,023
2018	$371,472	$447,012	$3,324,745	$-75,540