MADISON HERITAGE APARTMENTS INC

EIN: 351601281 501(c)(3)

LONG BEACH, CA

Total Revenue
$302,702
Total Expenses
$318,058
Total Assets
$909,194
Net Assets
$-221,464
🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Sign In — Free (10 views/day)

Financial Trends

Organization Details

Formation Year
1984
Legal Domicile
IN
Principal Officer
STUART HARTMAN
Phone
5622575100
Tax Period
2023-05-01 to 2024-04-30

MADISON HERITAGE APARTMENTS INC, founded in 1984, is a small nonprofit that reported $303K in total revenue in fiscal year 2023.

Mission

MADISON HERITAGE APARTMENTS INC. IS A NOT-FOR-PROFIT CORPORATION FORMED IN ACCORDANCE WITH THE NOT-FOR-PROFIT STATUTES OF THE STATE OF INDIANA. THE CORPORATION WAS FORMED FOR THE PURPOSE OF OPERATING A 30 UNIT COMMUNITY KNOWN AS MADISON HERITAGE APARTMENTS LOCATED IN MADISON, INDIANA, WHICH PROVIDES HOUSING FOR LOW-INCOME ELDERLY PERSONS. THE CORPORATION RECEIVES HOUSING ASSISTANCE PAYMENTS FROM THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT PURSUANT TO SECTION 202 OF THE NATIONAL HOUSING ACT, AS AMENDED. DURING THE YEAR ENDED APRIL 30, 2016, THE ORIGINAL MORTGAGE WAS REFINANCED UNDER SECTION 207 PURSUANT TO SECTION 223(F) OF THE NATIONAL HOUSING ACT, AS AMENDED.

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

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

Sign In — Free (10 views/day)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $200,091
Program Service Revenue $98,742
Investment Income $1,837
Other Revenue $2,032
TOTAL REVENUE $302,702

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $280,402
Other Expenses $318,058
TOTAL EXPENSES $318,058

Year-over-Year Comparison

2023 2022 Change
Revenue $302,702 $312,292 0.0%
Expenses $318,058 $309,707 +0.0%
Net Income $-15,356 $2,585 -6.9%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Sign In

Governance

Voting Members
7
Independent Members
7
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
6
$172,534
Total Directors
11
$685,724
Key Employees
20
$5,057,122
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
HARTMAN STUART J PRESIDENT/CEO 0.20
Director
$0 $68,128 $685,724
AMBERG ROBERT R EXECUTIVE VP GEN COUNSEL 0.20
Key Emp
$0 $49,216 $489,502
ROSSELLO FRANK JR CFO AND VP OF FINANCE 0.20
Key Emp
$0 $25,235 $403,817
FARD BOBBY J VP ACQUIS AND PROJ DEV 0.20
Key Emp
$0 $21,908 $281,127
MAGNONE VINCENT B VP TREASURY & INVSTMT OFF 0.20
Key Emp
$0 $37,102 $283,260
ESCANDON YURI ANDREW VP HOUSING OPERATIONS 0.20
Key Emp
$0 $40,606 $289,428
NAPIERSKIE DAVID W VP HEALTH CARE OPERATIONS 0.20
Key Emp
$0 $41,335 $286,493
BATTAGLIA NADA VP HUMAN RESOURCES 0.20
Key Emp
$0 $46,746 $288,839
TITUS STEPHANIE L VP PHILANTHROPY/CSO 0.20
Key Emp
$0 $49,191 $288,833
GILCHRIST KEVIN DARRELL VP DEVELOPMENT FINANCE 0.20
Key Emp
$0 $48,817 $277,179
RIVERA MICHAEL REG'L MANAGER HEALTH CARE 0.20
Key Emp
$0 $4,520 $228,351
KENNEDY TERESA NURSE TRAINER EXEMPT 0.20
Key Emp
$0 $3,734 $214,382
CLOW JOHN C VP RISK MANAGEMENT 0.20
Key Emp
$0 $18,816 $227,978
PURCELL CHRISTOPHER CONTROLLER 0.20
Key Emp
$0 $19,731 $216,931
MICKELSON LAVONNE R DIR OF AFFORD HOUSING OPS 0.20
Key Emp
$0 $4,763 $189,381
STECKBECK KENT BUDGET & ANALYTICS DIR 0.20
Key Emp
$0 $5,331 $183,013
ROBINSON TINA M VP HOUSING ACCOUNTING 0.20
Key Emp
$0 $16,482 $193,805
PHELPS LORI ANN INFO SYSTEMS DIRECTOR 0.20
Key Emp
$0 $5,192 $178,269
SILVA JOANNE L VP OCCUPANCY & TAX CREDIT 0.20
Key Emp
$0 $23,842 $190,698
KING DIANE D COMPL AND PRIVACY OFFICER 0.20
Key Emp
$0 $19,443 $187,985
FOX BUCHAN LAURA L DIRECTOR OF CORP RECORDS 0.20
Officer
$0 $18,784 $172,534
YOUNG SEESEE INTERNAL AUDIT DIRECTOR 0.20
Key Emp
$0 $6,199 $157,851
RAGON CHRISTY ANN VP OF COMMUNICATIONS 0.20
Highest
$0 $18,804 $172,776
RICANO PEGGY ACCT MANAGER EXEMPT 0.20
Highest
$0 $18,185 $165,199
INGRAO SALVATORE A DEVEL ACCOUNTING DIR 0.20
Highest
$0 $17,693 $161,075
BUNKHONG DONNA ACCOUNTING LEAD SR. 0.20
Highest
$0 $16,437 $153,960
DO THANH-THANH ACCT MANAGER EXEMPT 0.20
Highest
$0 $16,749 $153,900
BUNN ANDREW TREASURER 0.20
Officer Director
$0 $0 $0
DESAEGHER NORMA N VICE PRESIDENT 0.20
Officer Director
$0 $0 $0
PARTON HARRIETTE TREASURER 0.20
Officer Director
$0 $0 $0
RATCLIFF DESNA PRESIDENT 0.20
Officer Director
$0 $0 $0
EAST RAYMOND E DIRECTOR 0.20
Director
$0 $0 $0
BAUMAN JOHN DIRECTOR 0.20
Director
$0 $0 $0
MOYER DAVID S DIRECTOR 0.20
Director
$0 $0 $0
HART DONALD G DIRECTOR 0.20
Director
$0 $0 $0
POLLOCK JEFFREY R DIRECTOR 0.20
Director
$0 $0 $0
WILSON CHERYL DIRECTOR 0.20
Director
$0 $0 $0
SEE SCHEDULE JO SALARY DISCLOSURE - PGS 34 & 38 0.00
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
2025 No data No data No data No data
2024 $302,702 $318,058 $909,194 $-15,356
2023 $312,292 $309,707 $944,855 $2,585
2022 $296,450 $291,516 $974,235 $4,934
2021 $288,456 $304,636 $989,164 $-16,180
2020 $289,154 $287,030 $1,028,029 $2,124
2019 $260,240 $276,689 $1,047,380 $-16,449
Explore More Nonprofits
→Top 100 Nonprofits in California →Largest U.S. Nonprofits →Best Rated Nonprofits →Most Efficient Nonprofits

Compare MADISON HERITAGE APARTMENTS INC with other nonprofits in California and across the country.

We Value Your Privacy
We use cookies and similar technologies to analyze site traffic and improve your experience. By clicking "Accept All", you consent to our use of cookies for analytics and measurement.