FIRST ACTIVE SENIORS CORPORATION III

EIN: 391865235 501(c)(3)

CHICAGO, IL

Total Revenue
$295,076
Total Expenses
$443,728
Total Assets
$1,785,161
Net Assets
$-5,046,050
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1996
Legal Domicile
WI
Principal Officer
MICHAEL FIANDACA
Phone
3122369673
Tax Period
2024-07-01 to 2025-06-30

FIRST ACTIVE SENIORS CORPORATION III, founded in 1996, is a small nonprofit that reported $295K in total revenue in fiscal year 2024. Expenses of $444K exceeded revenue, resulting in a 50% operating deficit.

Mission

TO PROVIDE HOUSING, ASSISTED CARE, COMMUNITY AND OTHER SERVICES TO ACTIVE SENIOR CITIZENS.

Program Service Accomplishments

Program 1
Expenses: $396,725 Revenue: $295,023

EXPENSES INCURRED TO PROVIDE HOUSING TO ACTIVE SENIORS FOR UPKEEP AND MATTERS OF HOUSING UNITS AND RELATED CASES.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $295,023
Investment Income $53
Other Revenue $0
TOTAL REVENUE $295,076

Expense Breakdown

Grants Paid $0
Salaries & Benefits $51,441
Fundraising Expenses $0
Program Expenses $396,725
Other Expenses $392,287
TOTAL EXPENSES $443,728

Year-over-Year Comparison

2024 2023 Change
Revenue $295,076 $309,432 0.0%
Expenses $443,728 $483,124 -0.1%
Net Income $-148,652 $-173,692 -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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Governance

Voting Members
3
Independent Members
2
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
3
$121,885
Total Directors
3
$121,885
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
PATRICIA LUX TREASURER 10.00
Officer Director
$0 $0 $0
MICHAEL FIANDACA PRESIDENT 10.00
Officer Director
$0 $0 $121,885
JOHN FIANDACA SECRETARY 10.00
Officer 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
2025 $295,076 $443,728 $1,785,161 $-148,652
2024 $309,432 $483,126 $1,912,460 $-173,694
2023 $259,938 $504,507 $1,610,353 $-244,569
2022 $358,869 $540,522 $1,766,381 $-181,653
2021 $239,347 $427,631 $1,933,069 $-188,284
2020 $239,674 $408,435 $2,101,460 $-168,761
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