KELLY APARTMENTS INC (EIN 411733879) - 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

1992

Legal Domicile

Principal Officer

RITA WIERSMA

Phone

6123624400

Tax Period

2023-01-01 to 2023-12-31

KELLY APARTMENTS INC, founded in 1992, is a micro nonprofit in the Human Services sector that reported $54K in total revenue in fiscal year 2023. Revenue surged 25% from the prior year, signaling strong growth momentum. Expenses of $90K exceeded revenue, resulting in a 66% operating deficit.

Mission

TO PROVIDE HOUSING FOR PEOPLE WITH DISABILITIES AND MENTAL HEALTH ISSUES.

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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 $0

Program Service Revenue $53,661

Investment Income $318

Other Revenue $0

TOTAL REVENUE $53,979

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $76,260

Other Expenses $89,754

TOTAL EXPENSES $89,754

Year-over-Year Comparison

	2023	2022	Change
Revenue	$53,979	$43,220	+0.2%
Expenses	$89,754	$70,676	+0.3%
Net Income	$-35,775	$-27,456	+0.3%

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

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

$428,949

Total Directors

$428,949

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RITA WIERSMA	CHIEF EXECUTIVE OFFICER	1.00	Officer Director	$0	$8,191	$257,327
ROBERT PICKERING	SECRETARY & TREASURER	1.00	Officer Director	$0	$26,916	$171,622
NATHAN NELSON	CHAIR	1.00	Officer Director	$0	$0	$0
JONATHON SONDERGAARD	DIRECTOR	1.00	Director	$0	$0	$0
JOCELYN KORTAN	DIRECTOR	1.00	Director	$0	$0	$0
AMBER LINDERMAN	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	No data	No data	No data	No data
2023	$53,979	$89,754	$264,827	$-35,775
2022	$43,220	$70,676	$275,294	$-27,456
2021	$42,454	$66,823	$272,802	$-24,369
2020	$44,237	$61,486	$258,470	$-17,249
2019	$44,429	$49,391	$271,377	$-4,962
2018	$44,524	$57,638	$268,631	$-13,114

KELLY APARTMENTS INC