CHADWICK APARTMENTS INC (EIN 561786295) - 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

1992

Legal Domicile

Principal Officer

TYLER CRAFT

Phone

3367650424

Tax Period

2024-07-01 to 2025-06-30

CHADWICK APARTMENTS INC, founded in 1992, is a small nonprofit in the Housing & Shelter sector that reported $326K in total revenue in fiscal year 2024. Expenses of $364K exceeded revenue, resulting in a 12% operating deficit.

Mission

THE NOT FOR PROFIT CORPORATION WAS ORGANIZED TO OWN AND OPERATE A 41 UNIT APARTMENT COMMUNITY IN GARNER, NORTH CAROLINA KNOWN AS CHADWICK APARTMENTS. IT WAS ORGANIZED PURSUANT TO SECTION 202 OF THE NATIONAL HOUSING ACT AS AMENDED AND HAS ENTERED INTO THE STANDARD FHA REGULATORY AGREEMENTS, WHICH GOVERN THE OPERATION OF THE COMMUNITY, WITH THE FEDERAL HOUSING ADMINISTRATION SECTION OF HUD. A PROJECT RENTAL ASSISTANCE CONTRACT (PRAC) PROVIDES RENT ASSISTANCE FOR LOW INCOME FAMILIES (OR PERSONS).

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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 $124,431

Program Service Revenue $179,099

Investment Income $17,220

Other Revenue $5,552

TOTAL REVENUE $326,302

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $277,766

Other Expenses $364,341

TOTAL EXPENSES $364,341

Year-over-Year Comparison

	2024	2023	Change
Revenue	$326,302	$320,374	+0.0%
Expenses	$364,341	$332,440	+0.1%
Net Income	$-38,039	$-12,066	+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

N/A

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

$1,088,194

Total Directors

Key Employees

$174,668

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TYLER CRAFT	CHAIR	0.50	Officer Director	$0	$0	$0
JORDAN MANESS	VICE CHAIR	0.50	Officer Director	$0	$0	$0
BETSY ROZAKIS	MEMBER	0.50	Director	$0	$0	$0
GORDON GRUBB	MEMBER	0.50	Director	$0	$0	$0
MEGHAN MELLOY	MEMBER	0.50	Director	$0	$0	$0
YOLANDA WINSTEAD	PRESIDENT	0.50	Officer	$0	$16,974	$301,740
SHARON LORDEN	VICE PRESIDENT	0.50	Officer	$0	$14,372	$236,272
NATALIE BRITT	VICE PRESIDENT	0.50	Officer	$0	$10,636	$216,965
WILLIAM WARD	TREASURER	0.50	Officer	$0	$7,392	$188,228
SHEILA PORTER	VP OF HOMEOWNERSHIP CENTER	0.50	Officer	$0	$13,687	$144,989
ATINUKE DIVER	VP OF IMPACT	0.50	Key Emp	$0	$9,192	$174,668
KAYLA ROSENBURG	DIRECTOR OF ENTERPRISE S&D	0.50	Highest	$0	$5,906	$151,089
JOSEPH OMOZOKPEA	SENIOR PROJECT MANAGER	0.50	Highest	$0	$8,719	$132,728
PATRICIA ROPER	ACCOUNTING AND BENEFITS MANAGER	0.50	Highest	$0	$18,152	$127,940
TIMOTTHY FISHER	SENIOR PROJECT MANAGER	0.50	Highest	$0	$7,292	$128,003
PATRICK NERZ	SENIOR PROJECT MANAGER	0.50	Highest	$0	$7,202	$127,508

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	$326,302	$364,341	$1,189,163	$-38,039
2024	$320,374	$332,440	$1,223,517	$-12,066
2023	$286,581	$320,911	$1,233,594	$-34,330
2022	$269,754	$305,404	$1,271,571	$-35,650
2021	$272,847	$301,866	$1,303,661	$-29,019
2020	$263,229	$290,161	$1,345,093	$-26,932
2019	$260,641	$284,776	$1,372,691	$-24,135

CHADWICK APARTMENTS INC