CORINTHIAN GARDENS INC

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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

1986

Legal Domicile

Principal Officer

REV SARAI SCHNUCKER RICE

Phone

5152435823

Tax Period

2023-01-01 to 2023-12-31

CORINTHIAN GARDENS INC, founded in 1986, is a micro nonprofit in the Housing & Shelter sector that reported $39K in total revenue in fiscal year 2023. Revenue surged 111% from the prior year, signaling strong growth momentum. The organization ran a surplus of $33K, a strong 87% operating margin.

Mission

TO PROVIDE OBJECTIVE AND INDEPENDENT LEADERSHIP IN HELPING TO MEET THE PHYSICAL, SOCIAL AND EMOTIONAL NEEDS OF LOW-INCOME ELDERLY OR DISABLED PERSONS THROUGH THE DEVELOPMENT OF SERVICE FACILITIES AND PROGRAMS APPROPRIATE TO THEIR USAGE; TO WORK WITH PUBLIC AND PRIVATE NATIONAL, STATE, AND LOCAL AGENCIES, ORGANIZATIONS AND INSTITUTIONS IN EXTENDING SUCH SERVICES TO SUCH PERSONS; TO PROVIDE LOW-INCOME AFFORDABLE HOUSING FOR THE AFORESAID PERSONS WHO DO NOT POSSESS THE MEANS TO FURNISH ADEQUATE HOUSING FOR THEMSELVES; TO COMPLETE AND DO ANY AND ALL ACTS SUITABLE, PROPER AND CONDUCIVE TO THE SUCCESSFUL CONDUCT OF AN AFFORDABLE HOUSING PROGRAM; AND TO DEVELOP, COORDINATE AND ADMINISTER PROGRAMS FOR LOW-INCOME ELDERLY AND/OR DISABLED PERSONS IN IOWA, SO LONG AS SAID PROGRAMS DEAL WITH REHABILITATION, THERAPY, HEALTH, AND WELFARE IN ORDER TO ASSIST THEM IN ADJUSTING TO THEMSELVES AND THEIR ENVIRONMENT.

Program Service Accomplishments

Program 1

Revenue: $38,600

THE ORGANIZATION IS A SUPPORTING ORGANIZATION TO THE CORINTHIAN BAPTIST CHURCH WHOSE MISSION IS TO PROVIDE AFFORDABLE QUALITY HOUSING FOR SENIOR CITIZENS OF MODEST MEANS. DURING THE CALENDAR YEAR...

THE ORGANIZATION IS A SUPPORTING ORGANIZATION TO THE CORINTHIAN BAPTIST CHURCH WHOSE MISSION IS TO PROVIDE AFFORDABLE QUALITY HOUSING FOR SENIOR CITIZENS OF MODEST MEANS. DURING THE CALENDAR YEAR ENDED DECEMBER 31, 2016, THE ORGANIZATION SOLD THE LAND, BUILDING AND OTHER PROPERTY IT OWNED TO CORINTHIAN GARDENS ASSOCIATES, L.P, WHICH IN TURN SUBSTANTIALLY REHABILITATED THE PROPERTY PURSUANT TO THE AFFORDABLE HOUSING PROGRAM UNDER IRC SECTION 42. CORINTHIAN GARDENS, INC. REMAINS THE SOLE MEMBER OF CORINTHIAN GARDENS GP, LLC (THE GENERAL PARTNER OF CORINTHIAN GARDENS ASSOCIATES, L.P.).

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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 $38,600

Investment Income $0

Other Revenue $0

TOTAL REVENUE $38,600

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $5,109

TOTAL EXPENSES $5,109

Year-over-Year Comparison

	2023	2022	Change
Revenue	$38,600	$18,263	+1.1%
Expenses	$5,109	$6,033	-0.2%
Net Income	$33,491	$12,230	+1.7%

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
MARY LYNNE JONES	DIRECTOR	0.50	Director	$0	$0	$0
OCIE LOVE	DIRECTOR	0.50	Director	$0	$0	$0
DANIEL STOKES	DIRECTOR	0.50	Director	$0	$0	$0
ERIC BURMEISTER LEFT APRIL 2023	DIRECTOR	0.50	Director	$0	$0	$0
SHERICE MCCAMEY	DIRECTOR	0.50	Director	$0	$0	$0
CHARLES SINNAH-YOVONIE	DIRECTOR	0.50	Director	$0	$0	$0
NECOLE MCGARY	DIRECTOR	0.50	Director	$0	$0	$0
REV SARAI SCHNUCKER RICE	CHAIRMAN	2.00	Officer Director	$0	$0	$0
PHYLLIS BUTLER	VICE CHAIRMA	1.00	Officer Director	$0	$0	$0
VIVIAN HAYASHI	SECRETARY	1.00	Officer Director	$0	$0	$0
LA-MONTIE GAUSE	ASSISTANT SE	0.50	Officer Director	$0	$0	$0
CANDASIE ROSE	TREASURER	1.00	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
2024	No data	No data	No data	No data
2023	$38,600	$5,109	$800,235	$33,491
2022	$18,263	$6,033	$766,744	$12,230
2021	$38,555	$6,866	$703,326	$31,689
2020	No data	$3,634	$671,637	No data
2019	$14,674	$2,643	$675,271	$12,031
2018	$160,618	$1,054	$665,130	$159,564