THE FIRST APARTMENTS INC (EIN 480767534) - 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

1965

Legal Domicile

Principal Officer

STEVE MCCOY

Phone

7852726700

Tax Period

2024-07-01 to 2025-06-30

THE FIRST APARTMENTS INC, founded in 1965, is a small nonprofit that reported $703K in total revenue in fiscal year 2024.

Mission

PROVIDE AFFORDABLE QUALITY HOUSING THAT ENABLES SENIORS TO LIVE INDEPENDENTLY AS A PART OF A SAFE HOME LIKE 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 $697,733

Investment Income $2,790

Other Revenue $2,455

TOTAL REVENUE $702,978

Expense Breakdown

Grants Paid $0

Salaries & Benefits $215,939

Fundraising Expenses $0

Program Expenses $510,340

Other Expenses $499,532

TOTAL EXPENSES $715,471

Year-over-Year Comparison

	2024	2023	Change
Revenue	$702,978	$657,247	+0.1%
Expenses	$715,471	$664,125	+0.1%
Net Income	$-12,493	$-6,878	+0.8%

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

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

$63,035

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
STEVE MCCOY	PRESIDENT	2.00	Officer Director	$0	$0	$0
DICK WENTZEL	1ST VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
KARLA WHITESIDE	MEMBER	2.00	Director	$0	$0	$0
MIKE WILLIAMS	2ND VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
GLENDA YOCOM	TREASURER	2.00	Officer Director	$0	$0	$0
DALE SMITH	MEMBER	2.00	Director	$0	$0	$0
PATRICIA GIDEON	SECRETARY	2.00	Officer Director	$0	$0	$0
KEVIN VAUGHN	MEMBER	2.00	Director	$0	$0	$0
AMY CROW	ADMINITRATIVE DIRECTOR	40.00	Officer	$63,035	$0	$63,035

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	$702,978	$715,471	$515,507	$-12,493
2024	$657,247	$664,125	$531,071	$-6,878
2023	$669,160	$662,784	$549,935	$6,376
2022	$644,537	$608,775	$534,480	$35,762
2021	$637,040	$597,083	$531,855	$39,957
2020	$652,004	$585,025	$552,336	$66,979
2019	$638,061	$597,681	$543,870	$40,380

THE FIRST APARTMENTS INC