SUMMIT APARTMENTS INC (EIN 391225718) - 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

PEGGY JONES

Phone

6083418434

Tax Period

2022-01-01 to 2022-12-31

SUMMIT APARTMENTS INC, founded in 1975, is a micro nonprofit that reported $188K in total revenue in fiscal year 2022. Revenue fell 175% from the prior year — a significant decline worth monitoring.

Mission

TO PROVIDE SAFE, AFFORDABLE HOUSING TO LOW AND MODERATE INCOME SENIOR CITIZENS, AND HANDICAPPED AND DISABLED INDIVIDUALS.

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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 (2022)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $116,249

Investment Income $-304,197

Other Revenue $0

TOTAL REVENUE $-187,948

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $89,632

Other Expenses $119,256

TOTAL EXPENSES $119,256

Year-over-Year Comparison

	2022	2021	Change
Revenue	$-187,948	$250,389	-1.8%
Expenses	$119,256	$241,051	-0.5%
Net Income	$-307,204	$9,338	-33.9%

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
PEGGY JONES	PRESIDENT	N/A	Officer Director	$0	$0	$0
ROBERT SCHALLER	VICE PRESIDE	N/A	Officer Director	$0	$0	$0
ROWENA KIRSCHBAUM	SECRETARY	N/A	Officer Director	$0	$0	$0
RALPH KLEPPE	TREASURER	N/A	Officer Director	$0	$0	$0
ARLENE THEOBALD	DIRECTOR	N/A	Director	$0	$0	$0
MARY ANN BRINDLEY	DIRECTOR	N/A	Director	$0	$0	$0
PETE DYRESON	DIRECTOR	N/A	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
2022	$-187,948	$119,256	No data	$-307,204
2021	$250,389	$241,051	$481,560	$9,338
2020	$253,415	$228,727	$478,135	$24,688
2019	$239,593	$244,197	$446,473	$-4,604
2018	$223,519	$269,239	$451,152	$-45,720

SUMMIT APARTMENTS INC