VILLITA APARTMENTS INC

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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

2005

Legal Domicile

Principal Officer

FRANK SHEA

Phone

4019412900

Tax Period

2023-07-01 to 2024-06-30

VILLITA APARTMENTS INC, founded in 2005, is a small nonprofit in the Housing & Shelter sector that reported $300K in total revenue in fiscal year 2023. Expenses of $262K left a modest 13% surplus.

Mission

COST INCURRED IN CONNECTION WITH THE PROVISIONS OF PROJECT-BASED SECTION 8 AND SECTION 524(A)AND (C) OF THE MULTIFAMILY ASSISTED HOUSING REFORM AND AFFORDABILITY ACT OF 1997 (MAHRA). OWNS AND OPERATES A 17 UNIT APARTMENT COMPLEX IN PROVIDENCE, RI FOR LOW INCOME ELDERLY TENANTS.

Program Service Accomplishments

Program 1

Expenses: $225,809 Revenue: $71,124

PROVIDE LOW INCOME HOUSING TO THE ELDERLY IN THE PROVIDENCE, RI AREA UNDER SECTION 8 AND SECTION 524 (17 UNITS)

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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 $218,380

Program Service Revenue $71,124

Investment Income $10,498

Other Revenue $0

TOTAL REVENUE $300,002

Expense Breakdown

Grants Paid $0

Salaries & Benefits $54,587

Fundraising Expenses $0

Program Expenses $225,809

Other Expenses $207,177

TOTAL EXPENSES $261,764

Year-over-Year Comparison

	2023	2022	Change
Revenue	$300,002	$282,587	+0.1%
Expenses	$261,764	$265,720	0.0%
Net Income	$38,238	$16,867	+1.3%

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
FRANK SHEA	PRESIDENT	1.00	Officer	$0	$0	$0
VICKIE WALTERS	VICE PRESIDENT	0.50	Officer	$0	$0	$0
MICHELLE BROPHY	SECRETARY	0.50	Officer	$0	$0	$0
LARRYT KELLAM	TREASURER	0.50	Officer	$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
2025	No data	No data	No data	No data
2024	$300,002	$261,764	$1,438,070	$38,238
2023	$282,587	$265,720	$1,405,665	$16,867
2021	$231,743	$274,929	$1,376,049	$-43,186
2020	$227,511	$260,536	$1,396,991	$-33,025
2019	$224,639	$273,803	$1,412,523	$-49,164