LW FRASER INDEPENDENT LIVING PROJECT INC SHERIDAN COURT

EIN: 363364065 501(c)(3) Housing & Shelter

RICHFIELD, MN

Total Revenue
$407,758
Total Expenses
$368,022
Total Assets
$774,382
Net Assets
$-290,572
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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
1985
Legal Domicile
MN
Principal Officer
DIANE S CROSS
Phone
6128611688
Tax Period
2024-01-01 to 2024-12-31

LW FRASER INDEPENDENT LIVING PROJECT INC SHERIDAN COURT, founded in 1985, is a small nonprofit in the Housing & Shelter sector that reported $408K in total revenue in fiscal year 2024. Revenue grew 15% year-over-year, indicating healthy expansion. Expenses of $368K left a modest 10% surplus.

Mission

TO OPERATE AN APARTMENT COMPLEX FOR PERSONS WITH DEVELOPMENTAL DISABILITIES AND VERY LOW INCOME IN RICHFIELD, MINNESOTA, AS HUD PROJECT NO. 092-11227.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $407,078
Investment Income $197
Other Revenue $483
TOTAL REVENUE $407,758

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $297,889
Other Expenses $368,022
TOTAL EXPENSES $368,022

Year-over-Year Comparison

2024 2023 Change
Revenue $407,758 $354,245 +0.2%
Expenses $368,022 $350,698 +0.0%
Net Income $39,736 $3,547 +10.2%
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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Governance

Voting Members
6
Independent Members
5
Employees
N/A
Volunteers
5

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
9
$866,477
Total Directors
8
$565,767
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DIANE CROSS CEO/SECRETARY 0.10
Officer Director
$1,298 $24,357 $565,767
RICK FERRIS BOARD CHAIR 0.10
Officer Director
$0 $0 $0
RANDY PATTEE VICE CHAIR/TREASURER 0.10
Officer Director
$0 $0 $0
DR ARMANTINA ESPINOSA VICE CHAIR 0.10
Officer Director
$0 $0 $0
DR KRISHNAN SUBRAHMANIAN VICE CHAIR 0.10
Officer Director
$0 $0 $0
GRETCHEN CUDAK VICE CHAIR 0.10
Officer Director
$0 $0 $0
KEITH KLEIN FORMER BOARD CHAIR 0.10
Officer Director
$0 $0 $0
PETER ROBB FORMER VICE CHAIR/TREASURER 0.10
Officer Director
$0 $0 $0
JAMES OLSON CFO 0.10
Officer
$704 $7,359 $300,710
ELIF MCCAIN CHIEF ADMINISTRATIVE OFFICER 0.00
Highest
$0 $20,122 $210,968
KIMBERLY KLEIN DIRECTOR OF NEUROPSYCHOLOGY 0.00
Highest
$0 $10,469 $192,586
PATRICIA PULICE CHIEF CLINICAL OFFICER 0.00
Highest
$0 $4,523 $185,169
MATT CHIODO VP OF INFORMATION TECHNOLOGY 0.10
Highest
$376 $17,752 $174,883
NANCY BALDRICA CHIEF MARKETING & DEVELOPMENT OFFICER 0.10
Highest
$399 $3,017 $169,195
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 $407,758 $368,022 $774,382 $39,736
2023 $354,245 $350,698 $804,784 $3,547
2022 $341,794 $359,124 $825,798 $-17,330
2021 $355,574 $345,811 $859,081 $9,763
2020 $329,975 $337,068 $873,292 $-7,093
2019 $310,063 $323,572 $898,060 $-13,509
2018 $277,811 $326,566 $947,922 $-48,755
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