OUR LADY OF ANGELS APARTMENTS INC

EIN: 341317758 501(c)(3)

CLEVELAND, OH

Total Revenue
$3,222,461
Total Expenses
$6,893
Total Assets
$17,308,923
Net Assets
$17,308,923
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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
1980
Legal Domicile
OH
Principal Officer
DONNALD HECKELMOSER
Phone
2169413330
Tax Period
2023-07-01 to 2024-06-30

OUR LADY OF ANGELS APARTMENTS INC, founded in 1980, is a community nonprofit that reported $3.2M in total revenue in fiscal year 2023. Revenue surged 97% from the prior year, signaling strong growth momentum. The organization ran a surplus of $3.2M, a strong 100% operating margin.

Mission

TO DEVELOP AND MANAGE THE INVESTMENT IN FRANCISCAN VILLAGE I, L.P. AND FRANCISCAN VILLAGE II, L.P., SENIOR LIVING APARTMENT BUILDINGS BEING OPERATED AS QUALIFIED LOW-INCOME HOUSING PROJECTS WITHIN THE MEANING OF SECTION 42 OF THE INTERNAL REVENUE CODE.

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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 $0
Investment Income $808,516
Other Revenue $2,413,945
TOTAL REVENUE $3,222,461

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $6,893
Other Expenses $6,893
TOTAL EXPENSES $6,893

Year-over-Year Comparison

2023 2022 Change
Revenue $3,222,461 $1,634,305 +1.0%
Expenses $6,893 $131,300 -0.9%
Net Income $3,215,568 $1,503,005 +1.1%
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
7
Independent Members
7
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
4
$0
Total Directors
10
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
LEE NAGEOTTE TRUSTEE 0.50
Director
$0 $0 $0
NANCY RICHARDS TRUSTEE 0.50
Director
$0 $0 $0
JAMES FOOS TRUSTEE 0.50
Director
$0 $0 $0
TERRENCE E DONELON TRUSTEE 0.50
Director
$0 $0 $0
KAREN LISOWSKI TRUSTEE 0.50
Director
$0 $0 $0
KEVIN LEHANE TRUSTEE 0.50
Director
$0 $0 $0
TIM NAUMAN VICE PRESIDENT 0.50
Officer Director
$0 $0 $0
DONALD MACBRIDE PRESIDENT 0.50
Officer Director
$0 $0 $0
STEVE LORENZ TREASURER 0.50
Officer Director
$0 $0 $0
CATHY SABOLIK SECRETARY 0.50
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
2024 $3,222,461 $6,893 $17,308,923 $3,215,568
2023 $1,634,305 $131,300 $14,093,355 $1,503,005
2022 $645,077 $3,100 $12,590,350 $641,977
2021 $10,927,710 $484,332 $12,027,945 $10,443,378
2020 $1,705,569 $1,251,187 $2,605,672 $454,382
2019 $1,822,961 $1,224,632 $2,803,933 $598,329
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