SHERMAN APARTMENTS ASSOCIATION

EIN: 320020392 501(c)(3) Education

AURORA, IL

Total Revenue
$233,223
Total Expenses
$288,125
Total Assets
$2,543,910
Net Assets
$2,146,461
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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
IL
Principal Officer
WALTER DWYER
Phone
6309664000
Tax Period
2023-07-01 to 2024-06-30

SHERMAN APARTMENTS ASSOCIATION, founded in 2002, is a small nonprofit in the Education sector that reported $233K in total revenue in fiscal year 2023. Expenses of $288K exceeded revenue, resulting in a 24% operating deficit.

Mission

TO PROVIDE SUPPORT, GUIDANCE, AND HOUSING TO INDIVIDUALS WITH MENTAL ILLNESS IN ORDER TO MAXIMIZE THEIR POTENTIAL TO LIVE INDEPENDENTLY

Program Service Accomplishments

Program 1
Expenses: $246,174 Revenue: $232,750

THE SUPPORTED LIVING ARRANGEMENT PROVIDES SUPPORT AND MONITORING FOR INDIVIDUALS WITH MENTAL ILLNESS WHO REQUIRE MINIMAL ASSISTANCE IN MAINTAING INDEPENDENCE IN THE COMMUNITY. CURRENTLY THERE ARE 16...

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THE SUPPORTED LIVING ARRANGEMENT PROVIDES SUPPORT AND MONITORING FOR INDIVIDUALS WITH MENTAL ILLNESS WHO REQUIRE MINIMAL ASSISTANCE IN MAINTAING INDEPENDENCE IN THE COMMUNITY. CURRENTLY THERE ARE 16 INDIVIDUALS RESIDING IN AURORA.

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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 (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $232,750
Investment Income $473
Other Revenue $0
TOTAL REVENUE $233,223

Expense Breakdown

Grants Paid $0
Salaries & Benefits $53,381
Fundraising Expenses $0
Program Expenses $246,174
Other Expenses $234,744
TOTAL EXPENSES $288,125

Year-over-Year Comparison

2023 2022 Change
Revenue $233,223 $227,426 +0.0%
Expenses $288,125 $264,298 +0.1%
Net Income $-54,902 $-36,872 +0.5%
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
4
Independent Members
3
Employees
N/A
Volunteers
4

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
2
$225,236
Total Directors
4
$225,236
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
FRANCES L BAKER SECRETARY/TREASURER 1.00
Officer Director
$0 $18,308 $225,236
WALTER DWYER PRESIDENT 1.00
Officer Director
$0 $0 $0
RICK POULTON DIRECTOR 1.00
Director
$0 $0 $0
BRUCE SIMPSON DIRECTOR 1.00
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 No data No data No data No data
2024 $233,223 $288,125 $2,543,910 $-54,902
2023 $227,426 $264,298 $2,450,781 $-36,872
2022 $248,298 $297,944 $2,347,721 $-49,646
2021 $226,245 $344,060 $2,422,792 $-117,815
2020 $244,683 $241,358 $2,494,010 $3,325
2019 $234,348 $254,376 $2,448,026 $-20,028
2018 $218,512 $269,123 $2,479,513 $-50,611
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