LABELLE TOWERS INC

EIN: 381997058 501(c)(3)

WARREN, MI

Total Revenue
$9,694,525
Total Expenses
$12,612,531
Total Assets
N/A
Net Assets
N/A
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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
1970
Legal Domicile
MI
Principal Officer
CINDY LAMB
Phone
5867539002
Tax Period
2018-07-01 to 2019-06-30

LABELLE TOWERS INC, founded in 1970, is a community nonprofit that reported $9.7M in total revenue in fiscal year 2018. Revenue surged 450% from the prior year, signaling strong growth momentum. Expenses of $12.6M exceeded revenue, resulting in a 30% operating deficit.

Mission

TO PROVIDE HOUSING FACILITIES FOR LOW INCOME SENIOR CITIZENS.

Program Service Accomplishments

Program 1
Expenses: $12,407,713 Revenue: $8,779,208

LABELLE TOWERS, INC. IS A MICHIGAN NON-PROFIT HOUSING CORPORATION ORGANIZED ON A NON-STOCK BASIS BY COOPERATIVE SERVICES, INC., A MICHIGAN NON-PROFIT COOPERATIVE. THE CORPORATION WAS FORMED TO...

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LABELLE TOWERS, INC. IS A MICHIGAN NON-PROFIT HOUSING CORPORATION ORGANIZED ON A NON-STOCK BASIS BY COOPERATIVE SERVICES, INC., A MICHIGAN NON-PROFIT COOPERATIVE. THE CORPORATION WAS FORMED TO ACQUIRE AN INTEREST IN REAL PROPERTY LOCATED IN HIGHLAND PARK, MICHIGAN AND TO CONSTRUCT AND OPERATE THEREON AN APARTMENT PROJECT OF 214 UNITS. HOUSING IS PROVIDED TO LOW INCOME SENIORS IN COOPERATION WITH THE US DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT.

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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 (2018)

Revenue Breakdown

Contributions & Grants $842,025
Program Service Revenue $354,023
Investment Income $8,437,084
Other Revenue $61,393
TOTAL REVENUE $9,694,525

Expense Breakdown

Grants Paid $11,284,709
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $12,407,713
Other Expenses $1,327,822
TOTAL EXPENSES $12,612,531

Year-over-Year Comparison

2018 2017 Change
Revenue $9,694,525 $1,762,057 +4.5%
Expenses $12,612,531 $1,451,534 +7.7%
Net Income $-2,918,006 $310,523 -10.4%
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

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Governance

Voting Members
10
Independent Members
10
Employees
N/A
Volunteers
45

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
$507,173
Total Directors
14
$507,173
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ETHEL YOUNG PRESIDENT 0.10
Officer Director
$0 $0 $0
MARY LACEY VICE PRESIDENT 0.10
Officer Director
$0 $0 $0
MARY ANN RUFF TREASURER 0.10
Officer Director
$0 $0 $0
CLARITA PALMA SECRETARY 0.10
Officer Director
$0 $0 $0
CINDY LAMB ASSISTANT TREASURER 0.10
Officer Director
$0 $28,978 $187,697
NANCY EVANS ASSISTANT SECRETARY 0.10
Officer Director
$0 $60,665 $319,476
THOMAS FEENEY DIRECTOR 0.10
Director
$0 $0 $0
IONA NICHOLSON DIRECTOR 0.10
Director
$0 $0 $0
BETTY HARRIS DIRECTOR 0.10
Director
$0 $0 $0
SERETHA MORTON DIRECTOR 0.10
Director
$0 $0 $0
RILLAR MCDANIEL DIRECTOR 0.10
Director
$0 $0 $0
ANNIE MITCHELL DIRECTOR 0.10
Director
$0 $0 $0
JAMES EDWARDS DIRECTOR 0.10
Director
$0 $0 $0
ALEXANDER GILBERT DIRECTOR 0.10
Director
$0 $0 $0
DARLA HUTTINGER REGIONAL MANAGER 0.10
Highest
$0 $29,335 $158,794
MARGUERITE D ANGELO REGIONAL MANAGER 0.10
Highest
$0 $26,495 $170,614
DIANE SMITH NATIONAL DEVELOPMENT MANAGER 0.10
Highest
$0 $38,703 $175,388
ANNE SACKRISON OPERATIONS MANAGER 0.10
Highest
$0 $40,100 $195,605
MEL HUDSON NATIONAL CONSTRUCTION MANAGER 0.10
Highest
$0 $61,928 $217,109
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
2019 $9,694,525 $12,612,531 No data $-2,918,006
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