SKYPAC TENANT 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

2011

Legal Domicile

Principal Officer

JAMES DOC KAELIN

Phone

2709045025

Tax Period

2018-01-01 to 2018-12-31

SKYPAC TENANT INC, founded in 2011, is a community nonprofit that reported $4.5M in total revenue in fiscal year 2018. Revenue surged 1324% from the prior year, signaling strong growth momentum. The organization ran a surplus of $3.5M, a strong 78% operating margin.

Mission

TO ACQUIRE REAL ESTATE AND CONSTRUCT A PERFORMING ARTS AND ENTERTAINMENT FACILITY IN BOWLING GREEN KENTUCKY, WHICH WILL SERVE THE CHARITABLE AND EDUCATIONAL NEEDS OF THE PEOPLE OF SOUTH CENTRAL KENTUCKY.

Program Service Accomplishments

Program 1

Expenses: $896,787 Revenue: $221,149

TO ACQUIRE REAL ESTATE AND CONSTRUCT ARTS AND ENTERTAINMENT FACILITY IN BOWLING GREEN KENTUCKY, WHICH WILL SERVE THE CHARITABLE AND EDUCATIONAL NEEDS OF THE PEOPLE OF SOUTH CENTRAL KENTUCKY.

Program 2

Revenue: $4,264,540

THIS ENTITY, WHICH WAS DESIGNED TO SUPPORT SKYPAC INC (EIN 61-1381629) ALONGSIDE SKYPAC LENDER (EIN 45-3814566) HELD A CAPITALIZED LEASE FOR ASSETS AND THE RELATED DEBT. THESE NOTES WERE FORGIVEN AND THE OFFSETTING DIFFERENCE FOR THE NOTES AND THE BOOK VALUE OF THE ASSETS RESULTED IN BOOK INCOME OF $4,264,540. THERE WAS NOT ANY CASH RECEIVED BUT THIS ENTITY AND PREVIOUSLY MENTIONED SKYPAC LENDER WERE MERGED INTO THEIR SUPPORTING ORGANIZATION, SKYPAC INC. SKYPAC INC IS A GOVERNMENTAL AGENCY AND THE BUILDING ASSETS HAD ALWAYS BEEN TITLED IN THAT AGENCY'S NAME. THIS ENTITY WAS USED TO HOLD THE DEBT WHICH WAS FORGIVEN.

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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 (2018)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $0

Investment Income $42

Other Revenue $4,485,647

TOTAL REVENUE $4,485,689

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $896,787

Other Expenses $970,940

TOTAL EXPENSES $970,940

Year-over-Year Comparison

	2018	2017	Change
Revenue	$4,485,689	$315,020	+13.2%
Expenses	$970,940	$917,510	+0.1%
Net Income	$3,514,749	$-602,490	-6.8%

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

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	Hours/Week	Role	Reportable Comp	Other Comp	Total
JAMES KAELIN	CHAIR	1.00	Officer Director	$0	$0	$0
DOUGLAS GORMAN	SECRETARY/TREASURER	1.00	Officer Director	$0	$0	$0
RICK MCCUE	DIRECTOR	5.00	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
2018	$4,485,689	$970,940	No data	$3,514,749