DELAWARE APARTMENT ASSOCIATION INC (EIN 522022081) - 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

2007

Legal Domicile

Principal Officer

EDWIN LUCUS

Phone

3025023110

Tax Period

2024-01-01 to 2024-12-31

DELAWARE APARTMENT ASSOCIATION INC, founded in 2007, is a small nonprofit that reported $362K in total revenue in fiscal year 2024. Revenue grew 15% year-over-year, indicating healthy expansion. The organization ran a surplus of $67K, a strong 19% operating margin.

Mission

THE PREMIER RESOURCE FOR THE MULTIFAMILY HOUSING INDUSTRY PROVIDING QUALITY RENTAL HOUSING, EDUCATION & ADVOCACY DEDICATED TO INTEGRITY AND EXCELLENCE.

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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 $319,032

Investment Income $695

Other Revenue $42,342

TOTAL REVENUE $362,069

Expense Breakdown

Grants Paid $0

Salaries & Benefits $96,759

Fundraising Expenses $0

Program Expenses $91,226

Other Expenses $197,855

TOTAL EXPENSES $294,614

Year-over-Year Comparison

	2024	2023	Change
Revenue	$362,069	$314,374	+0.2%
Expenses	$294,614	$293,052	+0.0%
Net Income	$67,455	$21,322	+2.2%

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

$89,880

Total Directors

$89,880

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CANDY LUDWIG	EXC. DIRECTO	40.00	Officer Director	$89,880	$0	$89,880
DEBBIE DURSO	BOARD MEMBER	1.00	Director	$0	$0	$0
HARRISON STEIN	BOARD MEMBER	1.00	Director	$0	$0	$0
KEVIN WOLFGANG	BOARD MEMBER	1.00	Director	$0	$0	$0
EDWIN LUCUS	VICE PRESIDE	1.00	Officer Director	$0	$0	$0
TOM TIPTON	BOARD MEMBER	1.00	Director	$0	$0	$0
FRANK BEVOORT	BOARD MEMBER	1.00	Director	$0	$0	$0
LASHYRA ESCOBOSA	SECRETARY	1.00	Officer Director	$0	$0	$0
DEBRA BURGOS	BOARD MEMBER	1.00	Director	$0	$0	$0
SHERRI GARYANTES	TREASURER	1.00	Officer Director	$0	$0	$0
MICHELE ANDERSON	BOARD MEMBER	1.00	Director	$0	$0	$0
NIKKI GIOUROS	BOARD MEMBER	1.00	Director	$0	$0	$0
MAXX HOFMAN	BOARD MEMBER	1.00	Director	$0	$0	$0
MICHAEL HANLON	BOARD MEMBER	1.00	Director	$0	$0	$0
JULIE TROENDLE	BOARD MEMBER	1.00	Director	$0	$0	$0
STEVE COOPER	BOARD MEMBER	1.00	Director	$0	$0	$0
MYESHA JONES	BOARD MEMBER	1.00	Director	$0	$0	$0
VICKI SHEA	BOARD MEMBER	1.00	Director	$0	$0	$0
LORRAINE DIVIRGILIS	BOARD MEMBER	1.00	Director	$0	$0	$0
TAMMY O'CONNOR	BOARD MEMBER	1.00	Director	$0	$0	$0
MATT MARTELLI	BOARD MEMBER	1.00	Director	$0	$0	$0
ALEX GOODMAN	BOARD MEMBER	1.00	Director	$0	$0	$0
RICHARD GOERLACH	BOARD MEMBER	1.00	Director	$0	$0	$0
NICK FONTAINE	BOARD MEMBER	1.00	Director	$0	$0	$0
CHRISTINE MUNDA	BOARD MEMBER	1.00	Director	$0	$0	$0
MARY FRENCH	PRESIDENT	1.00	Officer 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	$362,069	$294,614	$122,648	$67,455
2023	$314,374	$293,052	$57,193	$21,322
2022	$292,783	$298,984	$34,871	$-6,201
2021	$212,104	$228,127	$40,072	$-16,023
2020	$200,003	$238,494	$55,095	$-38,491
2019	$254,173	$263,590	$94,586	$-9,417
2018	$232,353	$272,548	$104,003	$-40,195

DELAWARE APARTMENT ASSOCIATION INC