IVY PLAZA HOUSING CORPORATION (EIN 341730014) - Form 990 Financial Analysis & Trantor Score

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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

1993

Legal Domicile

Principal Officer

JOYCE S THORNTON

Phone

2165619200

Tax Period

2023-01-01 to 2023-12-31

IVY PLAZA HOUSING CORPORATION, founded in 1993, is a small nonprofit in the Housing & Shelter sector that reported $501K in total revenue in fiscal year 2023. Expenses of $656K exceeded revenue, resulting in a 31% operating deficit.

Mission

THE ORGANIZATION PROVIDES PUBLIC HOUSING EXCLUSIVELY TO ELIGIBLE SENIORS AND HANDICAPPED INDIVIDUALS IN THE CLEVELAND AREA ON A CONSTRUCTION PROJECT APPROVED BY H.U.D. UNDER SECTION 202 OF THE HOUSING ACT OF 1959. THE BUILDING HAS 55 UNITS TO SERVE ELIGIBLE INDIVIDUALS

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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 $270,336

Program Service Revenue $229,658

Investment Income $83

Other Revenue $1,390

TOTAL REVENUE $501,467

Expense Breakdown

Grants Paid $0

Salaries & Benefits $98,070

Fundraising Expenses $0

Program Expenses $507,988

Other Expenses $558,114

TOTAL EXPENSES $656,184

Year-over-Year Comparison

	2023	2022	Change
Revenue	$501,467	$489,501	+0.0%
Expenses	$656,184	$624,498	+0.1%
Net Income	$-154,717	$-134,997	+0.1%

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

Governance

Voting Members

Independent Members

Employees

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
JOYCE S THORNTON	PRESIDENT	5.00	Officer	$0	$0	$0
YVETTE MCCLAINE	SECRETARY	2.00	Officer	$0	$0	$0
TERRIE PITTS	TREASURER	2.00	Officer	$0	$0	$0
MINNIE MARSHALL	CHAPLAIN	2.00	Officer	$0	$0	$0
SANDRA BRINSON	AOC PRESIDEN	2.00	Director	$0	$0	$0
RUTH FORE	VICE PRESIDE	2.00	Director	$0	$0	$0
TILLIE COLTER	MEMBER	2.00	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
2024	No data	No data	No data	No data
2023	$501,467	$656,184	$803,381	$-154,717
2022	$489,501	$624,498	$965,934	$-134,997
2021	$487,234	$583,795	$1,064,164	$-96,561
2020	$503,353	$559,603	$1,163,161	$-56,250
2019	$504,130	$594,012	$1,224,557	$-89,882
2018	$502,025	$653,277	$1,327,222	$-151,252

IVY PLAZA HOUSING CORPORATION