GLOVER PLAZA 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

1991

Legal Domicile

Principal Officer

TYRONE GARRETT

Phone

9103417700

Tax Period

2021-04-01 to 2022-03-31

GLOVER PLAZA INC, founded in 1991, is a small nonprofit that reported $408K in total revenue in fiscal year 2021. Expenses of $526K exceeded revenue, resulting in a 29% operating deficit.

Mission

TO PROVIDE LOW AND MODERATE INCOME HOUSING.

Program Service Accomplishments

Program 1

Expenses: $368,195 Revenue: $407,412

PROVIDES RENTAL UNITS TO QUALIFIED LOW AND MODERATE INCOME ELDERLY AND DISABLED INDIVIDUALS WHO ARE ELIGIBLE FOR RENTAL ASSISTANCE BY HUD SECTION 8 HOUSING ASSISTANCE PAYMENT PROGRAMS. THE...

PROVIDES RENTAL UNITS TO QUALIFIED LOW AND MODERATE INCOME ELDERLY AND DISABLED INDIVIDUALS WHO ARE ELIGIBLE FOR RENTAL ASSISTANCE BY HUD SECTION 8 HOUSING ASSISTANCE PAYMENT PROGRAMS. THE DEVELOPMENT HAS 75 UNITS.

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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 (2021)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $407,412

Investment Income $304

Other Revenue $0

TOTAL REVENUE $407,716

Expense Breakdown

Grants Paid $0

Salaries & Benefits $47,557

Fundraising Expenses $0

Program Expenses $368,195

Other Expenses $478,476

TOTAL EXPENSES $526,033

Year-over-Year Comparison

	2021	2020	Change
Revenue	$407,716	$415,267	0.0%
Expenses	$526,033	$442,467	+0.2%
Net Income	$-118,317	$-27,200	+3.3%

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

$316,598

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JEFF HOVIS	CHAIR	1.00	Officer Director	$0	$0	$0
LEE BACKSTON	VICE CHAIR	1.00	Director	$0	$0	$0
THERESA EVERETT	DIRECTOR	1.50	Director	$0	$0	$0
HOLLIS BRIGGS	DIRECTOR	1.50	Director	$0	$0	$0
NANCY GUYTON	DIRECTOR	1.50	Director	$0	$0	$0
JOAN JOHNSON	DIRECTOR	1.50	Director	$0	$0	$0
STUART FRANCK	DIRECTOR	1.50	Director	$0	$0	$0
BRYAN GREENE	DIRECTOR	1.50	Director	$0	$0	$0
AR SHARP	DIRECTOR	1.50	Director	$0	$0	$0
KATRINA H REDMON	PRESIDENT	1.50	Officer	$0	$14,046	$195,878
M KIM FITZWATER	VP/CFO	1.50	Officer	$0	$7,694	$120,720

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
2022	$407,716	$526,033	$1,741,633	$-118,317
2021	$415,267	$442,467	$1,841,514	$-27,200
2020	$434,669	$437,297	$1,857,278	$-2,628
2019	$406,880	$455,774	$1,858,761	$-48,894
2018	$416,710	$413,735	$1,928,036	$2,975