LEISURE ACRES PHASE II HOUSING CORP (EIN 371056963) - 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

1975

Legal Domicile

Principal Officer

FRED LUKE

Phone

3096732252

Tax Period

2024-01-01 to 2024-12-31

LEISURE ACRES PHASE II HOUSING CORP, founded in 1975, is a community nonprofit in the Housing & Shelter sector that reported $2.0M in total revenue in fiscal year 2024. Expenses of $1.9M left a modest 6% surplus.

Mission

TO PROVIDE QUALITY GOVERNMENT SUBSIDIZED HOUSING TO SENIOR CITIZENS AND DISABLED PERSONS AT AFFORDABLE RATES, WITH ATTRACTIVE AMENITITES, INCLUDING PRIVATE PATIOS, PORCH AND WALKING PATH AROUND ENTIRE 16 BUILDING COMPLEX. GROUND IS AVAILABLE TO PLANT FLOWERS AND A GARDEN. EACH BUILDING CONTAINS WASHER/DRYER FACILITIES.

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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 (2024)

Revenue Breakdown

Contributions & Grants $1,295,578

Program Service Revenue $675,931

Investment Income $21,361

Other Revenue $0

TOTAL REVENUE $1,992,870

Expense Breakdown

Grants Paid $0

Salaries & Benefits $296,408

Fundraising Expenses $0

Program Expenses $1,527,582

Other Expenses $1,575,422

TOTAL EXPENSES $1,871,830

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,992,870	$1,879,743	+0.1%
Expenses	$1,871,830	$1,830,679	+0.0%
Net Income	$121,040	$49,064	+1.5%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
FRED LUKE	PRESIDENT	1.00	Officer Director	$0	$0	$0
DENNIS BECHTEL	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
JOSEPH W CORRIGAN	SECRETARY/TREASURER	1.00	Officer Director	$0	$0	$0
AARON ROSE	DIRECTOR	1.00	Director	$0	$0	$0
GARY DEITERS	DIRECTOR	1.00	Director	$0	$0	$0
JIM MCINTYRE	DIRECTOR	1.00	Director	$0	$0	$0
STEPHEN MATHENY	DIRECTOR	1.00	Director	$0	$0	$0
NATHAN ISENBERG	DIRECTOR	1.00	Director	$0	$0	$0
BRIAN BUTLER	DIRECTOR	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	$1,992,870	$1,871,830	$4,056,918	$121,040
2023	$1,879,743	$1,830,679	$4,063,117	$49,064
2022	$1,678,965	$1,820,557	$4,142,630	$-141,592
2021	$1,675,294	$1,690,282	$4,407,627	$-14,988
2020	$1,686,041	$1,829,000	$4,500,212	$-142,959
2019	$1,670,663	$1,924,734	$4,781,416	$-254,071
2018	$1,647,642	$1,799,404	$5,120,003	$-151,762

LEISURE ACRES PHASE II HOUSING CORP