FRIENDSHIP HOUSE APARTMENTS INC (EIN 364729648) - 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

2012

Legal Domicile

Principal Officer

KERI MCCROREY

Phone

5734315191

Tax Period

2023-10-01 to 2024-09-30

FRIENDSHIP HOUSE APARTMENTS INC, founded in 2012, is a small nonprofit in the Housing & Shelter sector that reported $102K in total revenue in fiscal year 2023. Revenue decreased 8% compared to the prior year. Expenses of $142K exceeded revenue, resulting in a 39% operating deficit.

Mission

TO PROVIDE ELDERLY OR DISABLED PERSONS WITH HOUSING FACILITIES AND SERVICES SPECIALLY DESIGNED TO MEET THEIR PHYSICAL, SOCIAL, AND PSYCHOLOGICAL NEEDS AND TO PROMOTE THEIR HEALTH, SECURITY, HAPPINESS, AND USEFULNESS IN LONGER LIVING.

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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 $0

Program Service Revenue $97,329

Investment Income $2,268

Other Revenue $2,123

TOTAL REVENUE $101,720

Expense Breakdown

Grants Paid $0

Salaries & Benefits $10,650

Fundraising Expenses $0

Program Expenses $116,487

Other Expenses $130,853

TOTAL EXPENSES $141,503

Year-over-Year Comparison

	2023	2022	Change
Revenue	$101,720	$111,004	-0.1%
Expenses	$141,503	$145,850	0.0%
Net Income	$-39,783	$-34,846	+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

N/A

Volunteers

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

$155,079

Total Directors

$155,079

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KERI MCCROREY	CHAIRMAN	1.00	Officer Director	$0	$15,116	$155,079
RACHAEL BERSDALE	BOARD MEMBER	1.00	Director	$0	$0	$0
DENIS MOORE	BOARD MEMBER	1.00	Director	$0	$0	$0
ANNA PORTELL	BOARD MEMBER	1.00	Director	$0	$0	$0
NICOLE SMITH	BOARD MEMBER (THRU APR 2024)	1.00	Director	$0	$0	$0
JIM THOMPSON	BOARD MEMBER	1.00	Director	$0	$0	$0
ZEHRA UVALIC	BOARD MEMBER	1.00	Director	$0	$0	$0
TAMI WHITE	BOARD MEMBER	1.00	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	$101,720	$141,503	$1,596,384	$-39,783
2023	$111,004	$145,850	$1,644,633	$-34,846
2022	$126,701	$129,830	$1,686,270	$-3,129
2021	$107,607	$132,479	$1,730,848	$-24,872
2020	$96,696	$134,496	$1,724,000	$-37,800
2019	$97,307	$153,494	$1,750,666	$-56,187
2018	$103,391	$156,273	$1,835,624	$-52,882

FRIENDSHIP HOUSE APARTMENTS INC