PROVIDENCE PLACE III 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

1997

Legal Domicile

Principal Officer

REBECCA LISTROM

Phone

9102463107

Tax Period

2024-10-01 to 2025-09-30

PROVIDENCE PLACE III INC, founded in 1997, is a small nonprofit in the Housing & Shelter sector that reported $271K in total revenue in fiscal year 2024. Revenue surged 30% from the prior year, signaling strong growth momentum. Expenses of $352K exceeded revenue, resulting in a 30% operating deficit.

Mission

OPERATE 40 UNIT APARTMENT COMPLEX FOR ELDERLY AND DISABLED LOCATED IN RED SPRINGS, NC UNDER SECTION 202 OF THE NATIONAL HOUSING ACT OF 1959.

Program Service Accomplishments

Program 1

Expenses: $340,772 Revenue: $115,878

OPERATE 40 UNIT APARTMENT COMPLEX FOR ELDERLY & DISABLED.

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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 $147,562

Program Service Revenue $115,878

Investment Income $7,354

Other Revenue $0

TOTAL REVENUE $270,794

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $340,772

Other Expenses $352,422

TOTAL EXPENSES $352,422

Year-over-Year Comparison

	2024	2023	Change
Revenue	$270,794	$208,474	+0.3%
Expenses	$352,422	$323,677	+0.1%
Net Income	$-81,628	$-115,203	-0.3%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ALONA SLOAN	BOARD MEMBER	0.50	Director	$0	$0	$0
ROBERT LANDASS	BOARD MEMBER	0.50	Director	$0	$0	$0
LAURA BIBEY	BOARD MEMBER	0.50	Director	$0	$0	$0
REBECCA LISTROM	CHAIRPERSON	0.50	Officer Director	$0	$0	$0
FRANCES RAY	VICE CHAIRPERSON	0.50	Officer Director	$0	$0	$0
WANDA DOUGLAS	TREASURER	0.50	Officer Director	$0	$0	$0
SCOTT BREWTON	CORPORATE SECRETARY	0.50	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
2025	$270,794	$352,422	$1,062,422	$-81,628
2024	$208,474	$323,677	$1,132,774	$-115,203
2023	$189,732	$265,817	$1,203,832	$-76,085
2022	$190,026	$248,231	$1,272,450	$-58,205
2021	$194,320	$266,831	$1,323,220	$-72,511
2020	$185,756	$246,866	$1,397,027	$-61,110
2019	$178,316	$236,153	$1,484,974	$-57,837
2018	$179,928	$228,963	$1,535,663	$-49,035