PALESTINE 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

1988

Legal Domicile

Phone

8169210140

Tax Period

2023-01-01 to 2023-12-31

PALESTINE GARDENS INC, founded in 1988, is a community nonprofit that reported $3.0M in total revenue in fiscal year 2023. Revenue surged 663% from the prior year, signaling strong growth momentum. The organization ran a surplus of $2.9M, a strong 96% operating margin.

Mission

Taxpayer operates a 58 unit apartment complex for the elderly in Kansas City, Missouri. The apartment complex is operated pursuant to Section 202 of the National Housing Act and is regulated by the U.S. Department of Housing anf Urban Development.

Program Service Accomplishments

Program 1

Expenses: $70,915 Revenue: $87,441

Taxpayer operated a 58 unit apartment complex in Kansas City, Missouri pursuant to Section 202 of the National Housing Act. On March 31, 2023 we sold are rental assets and ceased operations.

Program 2

Expenses: $600

Taxpayer also provides various social services and activities for its residents and the surrounding community specific services/activities include 1 mobile post office, 2 guest speakers and workshops on health and nutritional issues, and 3 other cultural/educational/artistic outing and activities. Approximate numbers served are 330 per month.

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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 $87,441

Investment Income $2,839,598

Other Revenue $105,670

TOTAL REVENUE $3,032,709

Expense Breakdown

Grants Paid $0

Salaries & Benefits $14,270

Fundraising Expenses $0

Program Expenses $71,515

Other Expenses $104,318

TOTAL EXPENSES $118,588

Year-over-Year Comparison

	2023	2022	Change
Revenue	$3,032,709	$397,237	+6.6%
Expenses	$118,588	$454,444	-0.7%
Net Income	$2,914,121	$-57,207	-51.9%

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
WENDELL JONES	CHAIRMAN	000.50	Officer Director	$0	$0	$0
EDWYNNE SMITH	TREASURER	000.50	Officer Director	$0	$0	$0
RHONDA IVERSON	SECRETARY	000.50	Officer Director	$0	$0	$0
RICK EARL ABEL	DIRECTOR	000.50	Director	$0	$0	$0
MELVIN GROSS	DIRECTOR	000.50	Director	$0	$0	$0
DONALD MAXWELL	DIRECTOR	000.50	Director	$0	$0	$0
GLYNNIS BYERS	DIRECTOR	000.50	Director	$0	$0	$0
HAROLD WHITE	DIRECTOR	000.50	Director	$0	$0	$0
DERRICK SMITH	DIRECTOR	000.50	Director	$0	$0	$0
JAMES P SMITH	DIRECTOR	000.50	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	$3,032,709	$118,588	$1,968,314	$2,914,121
2022	$397,237	$454,444	$692,973	$-57,207
2021	$431,938	$456,417	$730,777	$-24,479
2020	$490,452	$453,426	$758,081	$37,026
2019	$482,856	$625,318	$795,213	$-142,462
2018	$459,185	$602,429	$902,392	$-143,244