ALVERNO APARTMENTS INC

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

1978

Legal Domicile

Principal Officer

LEANNE GOLINVAUX

Phone

5635822364

Tax Period

2023-07-01 to 2024-06-30

ALVERNO APARTMENTS INC, founded in 1978, is a community nonprofit in the Housing & Shelter sector that reported $1.0M in total revenue in fiscal year 2023. Expenses of $888K left a modest 13% surplus.

Mission

ALVERNO APARTMENTS MEETS THE NEEDS OF LOW-INCOME ELDERLY OR HANDICAPPED INDIVIDUALS WHO ARE CAPABLE OF LIVING INDEPENDENTLY BY PROVIDING SAFE AND SECURE HOUSING AT AN AFFORDABLE COST.

Program Service Accomplishments

Program 1

Expenses: $695,809 Revenue: $450,880

ALVERNO APARTMENTS PROVIDES HOUSING FOR ELDERLY AND HANICAPPED INDIVIDUALS WHO QUALIFY FOR FEDERAL HOUSING ASSISTANCE. ALVERNO CONSISTS OF 100 ONE-BEDROOM APARTMENTS AND RENT IS BASED ON 30% OF...

ALVERNO APARTMENTS PROVIDES HOUSING FOR ELDERLY AND HANICAPPED INDIVIDUALS WHO QUALIFY FOR FEDERAL HOUSING ASSISTANCE. ALVERNO CONSISTS OF 100 ONE-BEDROOM APARTMENTS AND RENT IS BASED ON 30% OF ANNUAL ADJUSTED INCOME. HEAD OF HOUSEHOLD OR SPOUSE MUST BE AGE 62 OR OLDER. PERSONS YOUNGER THAN 62 MAY BE ELIGIBLE IF THEY ARE HANDICAPPED AND MEET HUD REQUIREMENTS.

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $567,885

Program Service Revenue $450,864

Investment Income $16

Other Revenue $0

TOTAL REVENUE $1,018,765

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $695,809

Other Expenses $887,609

TOTAL EXPENSES $887,609

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,018,765	$947,578	+0.1%
Expenses	$887,609	$933,954	0.0%
Net Income	$131,156	$13,624	+8.6%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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	Role	Reportable Comp	Other Comp	Total
DAVID HARRIS	DIRECTOR	Director	$0	$0	$0
DAN WELLIK	DIRECTOR	Director	$0	$0	$0
SR BRENDA WHETSTONE	DIRECTOR	Director	$0	$0	$0
SR MARGARET WICK	DIRECTOR	Director	$0	$0	$0
STEVE CORNELIUS	DIRECTOR	Director	$0	$0	$0
SUSAN PEARCE	DIRECTOR	Director	$0	$0	$0
LEANNE GOLINVAUX	PRESIDENT	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	$1,018,765	$887,609	$2,874,969	$131,156
2023	$947,578	$933,954	$2,929,235	$13,624
2022	$812,252	$787,679	$2,886,457	$24,573
2021	$705,301	$759,871	$2,906,641	$-54,570
2020	$695,051	$812,614	$3,004,994	$-117,563
2019	$680,345	$819,088	$3,188,290	$-138,743
2018	$674,054	$811,901	$3,404,856	$-137,847