TOWN CENTER APARTMENTS 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

1976

Legal Domicile

Principal Officer

CHELSEA ANDREWS

Phone

2407739000

Tax Period

2024-07-01 to 2025-06-30

TOWN CENTER APARTMENTS INC, founded in 1976, is a micro nonprofit in the Housing & Shelter sector that reported $38K in total revenue in fiscal year 2024. Revenue surged 42% from the prior year, signaling strong growth momentum. Expenses of $397K exceeded revenue, resulting in a 942% operating deficit.

Mission

THE ORGANIZATION OPERATES A 112 RESIDENTIAL RENTAL UNITS COMPLEX FOR LOW-INCOME RESIDENTS.

Program Service Accomplishments

Program 1

Expenses: $390,767

THE ORGANIZATION OWNS A 112 UNIT RESIDENTIAL LOW-INCOME APARTMENT COMPLEX AT 90 MONROE STREET, ROCKVILLE, MD. THE SPONSOR THE HOUSING OPPORTUNITIES COMMISSION OF MONTGOMERY COUNTY, MARYLAND ("HOC"), THE PHA, HAS CLOSED THE COMPLEX DUE TO AGING AND SAFETY CONCERNS.THE TENANTS HAVE BEEN RELOCATED TO A NEW 150 UNIT MIXED-USE, MIXED-INCOME AFFORDABLE SENIOR APARTMENT COMPLEX LOCATED AROUND THE CORNER AT 2 HELEN HENAGHAN WAY, ROCKVILLE, MD. IT IS THE INTENTION OF HOC TO SELL THE ORGANIZATION'S APARTMENT COMPLEX. IN THE SHORT RUN, THEASSET MY BE USED TEMPORARILY TO RELOCATE TENANTS WHILE OTHER PROPERTIES ARE BEING RENOVATED.

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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 $0

Investment Income $38,106

Other Revenue $0

TOTAL REVENUE $38,106

Expense Breakdown

Grants Paid $0

Salaries & Benefits $105,327

Fundraising Expenses $0

Program Expenses $390,767

Other Expenses $291,640

TOTAL EXPENSES $396,967

Year-over-Year Comparison

	2024	2023	Change
Revenue	$38,106	$26,828	+0.4%
Expenses	$396,967	$404,127	0.0%
Net Income	$-358,861	$-377,299	0.0%

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
ROY O'PRIEST	CHAIR	0.25	Officer Director	$0	$0	$0
ROBIN SALOMON	CHAIR PRO TEM	0.25	Officer Director	$0	$0	$0
JEFF MERKIOWITZ	VICE CHAIR	0.25	Officer Director	$0	$0	$0
LINDA CROOM	COMMISSIONER	0.25	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	$38,106	$396,967	$1,617,911	$-358,861
2024	$26,828	$404,127	$1,813,312	$-377,299
2023	$260,413	$400,639	$1,856,892	$-140,226
2022	$1,003,391	$880,768	$1,693,394	$122,623
2021	$1,621,495	$940,441	$2,401,932	$681,054
2020	$1,256,390	$910,416	$2,042,919	$345,974
2019	$1,012,164	$975,486	$859,334	$36,678
2018	$979,281	$1,017,118	$1,320,275	$-37,837