NORTH COURT APARTMENTS

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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

1995

Legal Domicile

Principal Officer

RITA WIERSMA

Phone

6123624400

Tax Period

2024-01-01 to 2024-11-18

NORTH COURT APARTMENTS, founded in 1995, is a small nonprofit that reported $234K in total revenue in fiscal year 2024. Revenue surged 220% from the prior year, signaling strong growth momentum. The organization ran a surplus of $178K, a strong 76% operating margin.

Mission

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

Program Service Accomplishments

Program 1

Expenses: $36,228 Revenue: $55,571

AN EIGHT-UNIT APARTMENT BUILDING FOR PEOPLE WITH A MEDICALLY DIAGNOSED MENTAL ILLNESS AND ARE EXTREMELY LOW-INCOME. VARIOUS SUPPORT SERVICES ARE AVAILABLE FOR INDIVIDUALS TO CHOOSE FROM TO HELP THEM LIVE INDEPENDENTLY, PARTICIPATE IN THEIR COMMUNITY, AND LIVE THEIR GREATEST LIVES. THE APARTMENT BUILDING WAS SOLD ON OCTOBER 14, 2024.

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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 (2024)

Revenue Breakdown

Contributions & Grants $54,653

Program Service Revenue $55,571

Investment Income $124,009

Other Revenue $0

TOTAL REVENUE $234,233

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $36,228

Other Expenses $55,774

TOTAL EXPENSES $55,774

Year-over-Year Comparison

	2024	2023	Change
Revenue	$234,233	$73,290	+2.2%
Expenses	$55,774	$61,975	-0.1%
Net Income	$178,459	$11,315	+14.8%

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

Total Directors

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	$0	$0
ROBERT PICKERING	SECRETARY & TREASURER	1.00	Officer Director	$0	$0	$0
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 LINDEMAN	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	$234,233	$55,774	No data	$178,459
2023	$73,290	$61,975	$182,525	$11,315
2022	$51,078	$60,701	$156,714	$-9,623
2021	$54,252	$73,985	$153,954	$-19,733
2020	$58,958	$64,320	$198,773	$-5,362
2019	$59,730	$75,295	$184,955	$-15,565
2018	$61,569	$63,941	$172,313	$-2,372