AREA III PROPERTIES INC (EIN 352143576) - 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

2001

Legal Domicile

Principal Officer

CONNIE BENTON WOLFE

Phone

2607451200

Tax Period

2022-07-01 to 2023-06-30

AREA III PROPERTIES INC, founded in 2001, is a small nonprofit in the Community Improvement sector that reported $618K in total revenue in fiscal year 2022. Expenses of $597K left a modest 3% surplus.

Mission

TO HOLD TITLE TO PROPERTY, COLLECTING INCOME THEREFROM AND TURNING OVER THE ENTIRE AMOUNT, LESS EXPENSES, TO AGING AND IN-HOME SERVICES OF NORTHEAST INDIANA, INC.

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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 (2022)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $616,653

Investment Income $1,540

Other Revenue $0

TOTAL REVENUE $618,193

Expense Breakdown

Grants Paid $0

Salaries & Benefits $107,430

Fundraising Expenses $0

Program Expenses $596,697

Other Expenses $489,267

TOTAL EXPENSES $596,697

Year-over-Year Comparison

	2022	2021	Change
Revenue	$618,193	$596,124	+0.0%
Expenses	$596,697	$595,075	+0.0%
Net Income	$21,496	$1,049	+19.5%

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

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

$728,639

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KELLY ABOUHALKAH	BOARD MEMBER	1.00	Director	$0	$0	$0
ABRAHAM SCHWAB	BOARD MEMBER	1.00	Director	$0	$0	$0
FEN-LEI CHANG	BOARD MEMBER	1.00	Director	$0	$0	$0
JESICA THORSON	BOARD MEMBER	1.00	Director	$0	$0	$0
MITCHELL STUCKY MD	BOARD MEMBER	1.00	Director	$0	$0	$0
BARBARA FRYMIER	BOARD MEMBER	1.00	Director	$0	$0	$0
MARY LEE MITCHELL	BOARD MEMBER	1.00	Director	$0	$0	$0
ZACHARY BENEDICT	BOARD MEMBER	1.00	Director	$0	$0	$0
KEITH HUFFMAN	CHAIRMAN	1.00	Officer	$0	$0	$0
KRISTI HARKENRIDER	VICE PRESIDENT	1.00	Officer	$0	$0	$0
SARAH EARLS	TREASURER	1.00	Officer	$0	$0	$0
JULIE FLECK	SECRETARY	1.00	Officer	$0	$0	$0
CONNIE BENTON WOLFE	PRESIDENT	1.00	Officer	$0	$0	$455,189
AARON SHAPIRO	SRVP OF FINANCE	1.00	Officer	$0	$0	$273,450

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	No data	No data	No data	No data
2023	$618,193	$596,697	$6,228,836	$21,496
2022	$596,124	$595,075	$2,693,919	$1,049
2021	$596,124	$461,092	$2,525,984	$135,032
2020	$406,418	$369,953	$2,555,200	$36,465
2019	$227,259	$219,961	$1,086,869	$7,298
2018	$208,852	$132,161	$1,140,507	$76,691

AREA III PROPERTIES INC