FOWLER CHRISTIAN APARTMENTS III 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

2012

Legal Domicile

Principal Officer

BILLIE COLLINS

Phone

2148214061

Tax Period

2023-01-01 to 2023-12-31

FOWLER CHRISTIAN APARTMENTS III INC, founded in 2012, is a small nonprofit in the Housing & Shelter sector that reported $315K in total revenue in fiscal year 2023. Expenses of $739K exceeded revenue, resulting in a 134% operating deficit.

Mission

FCA III WAS ORGANIZED FOR THE CONSTRUCTION, OWNERSHIP AND OPERATION OF A 36 UNIT, THREE-STORY APARTMENT BUILDING AND A MANGEMENT UNIT (THE "PROJECT") LOCATED IN DALLAS, TEXAS. THE PROJECT IS DESGINED TO HOUSE PERSONS WITH LIMITED INCOME AND AT LEAST SIXTY-TWO YEARS OF AGE.

Program Service Accomplishments

Program 1

Expenses: $536,846 Revenue: $314,422

FOWLER CHRISTIAN APARTMENTS III, INC. (THE ORGANIZATION") WAS ORGANIZED FOR THE OWNERSHIP AND OPERATION OF A 36-UNIT APARTMENT BUILDING (THE "PROJECT") LOCATED IN DALLAS, TEXAS. THE PROJECT IS...

FOWLER CHRISTIAN APARTMENTS III, INC. (THE ORGANIZATION") WAS ORGANIZED FOR THE OWNERSHIP AND OPERATION OF A 36-UNIT APARTMENT BUILDING (THE "PROJECT") LOCATED IN DALLAS, TEXAS. THE PROJECT IS DESIGNED TO HOUSE PERSONS WITH LIMITED INCOME AND AT LEAST SIXTY-TWO YEARS OF AGE. THE PROJECT OPERATES UNDER THE PROVISIONS OF SECTION 202 OF THE NATIONAL HOUSING ACT AND THE PROJECT IS SUBJECT TO THE PROVISION OF THE REGULATORY AGREEMENT EXECUTED BETWEEN THE ORGANIZATION AND THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELPOPMENT ("HUD") WITH RESPECT TO THE RENTAL CHARGES AND OPERATING METHODS.

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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 $314,422

Investment Income $1,013

Other Revenue $0

TOTAL REVENUE $315,435

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $536,846

Other Expenses $738,552

TOTAL EXPENSES $738,552

Year-over-Year Comparison

	2023	2022	Change
Revenue	$315,435	$304,997	+0.0%
Expenses	$738,552	$508,968	+0.5%
Net Income	$-423,117	$-203,971	+1.1%

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

110

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

$171,332

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TOMMY COLE	DIRECTOR	0.10	Director	$0	$0	$0
SANDRA FOREMAN	CHAIR	0.10	Officer Director	$0	$0	$0
DONALD MANWORREN	SECRETARY	0.10	Officer Director	$0	$0	$0
JIMMY PERCIVAL	DIRECTOR	0.10	Director	$0	$0	$0
MARK WASSENICH	DIRECTOR (END TERM 12/23)	0.10	Director	$0	$0	$0
CAROL MAXWELL	DIRECTOR	0.10	Director	$0	$0	$0
JACOB MILLER	DIRECTOR	0.10	Director	$0	$0	$0
BILLIE COLLINS	EXECUTIVE DIRECTOR	13.30	Officer	$0	$24,666	$171,332

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	$315,435	$738,552	$3,392,946	$-423,117
2022	$304,997	$508,968	$3,490,430	$-203,971
2021	$303,386	$464,957	$3,600,625	$-161,571
2020	$304,082	$460,300	$3,748,511	$-156,218
2019	$290,839	$434,314	$3,935,798	$-143,475
2018	$276,357	$384,232	$4,007,743	$-107,875