AHEPA-PENELOPE 38 APARTMENTS INC (EIN 421417593) - 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

1995

Legal Domicile

Principal Officer

CHRISTY KARTHAN

Phone

5159655987

Tax Period

2024-07-01 to 2025-06-30

AHEPA-PENELOPE 38 APARTMENTS INC, founded in 1995, is a small nonprofit in the Housing & Shelter sector that reported $535K in total revenue in fiscal year 2024. Expenses of $492K left a modest 8% surplus.

Mission

THE CORPORATION WAS ORGANIZED TO CONSTRUCT, OWN, AND OPERATE AN AFFORDABLE HOUSING APARTMENT COMMUNITY.

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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 $0

Program Service Revenue $507,916

Investment Income $20,478

Other Revenue $6,680

TOTAL REVENUE $535,074

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $427,315

Other Expenses $491,564

TOTAL EXPENSES $491,564

Year-over-Year Comparison

	2024	2023	Change
Revenue	$535,074	$505,503	+0.1%
Expenses	$491,564	$478,668	+0.0%
Net Income	$43,510	$26,835	+0.6%

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
CHRISTY KARTHAN	PRESIDENT	1.00	Officer Director	$0	$0	$0
CATHERINE MADCHARO	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
TOULA BALLOU	SECRETARY/TREASURER	1.00	Officer Director	$0	$0	$0
MARY CHRIST	DIRECTOR	1.00	Officer Director	$0	$0	$0
JAMES KARTHAN	DIRECTOR	1.00	Director	$0	$0	$0
THEODORE VELMAN	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
2025	$535,074	$491,564	$1,624,985	$43,510
2024	$505,503	$478,668	$1,586,541	$26,835
2023	$458,224	$477,456	$1,561,404	$-19,232
2022	$486,092	$517,343	$1,571,158	$-31,251
2021	$456,921	$438,168	$1,614,113	$18,753
2020	$458,267	$442,660	$1,578,086	$15,607
2019	$431,582	$410,536	$1,592,212	$21,046

AHEPA-PENELOPE 38 APARTMENTS INC