Red Lake Senior Apartment Center Inc (EIN 562338756) - 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

2004

Legal Domicile

Principal Officer

Lorena Cook

Phone

2186793400

Tax Period

2023-10-01 to 2024-09-30

Red Lake Senior Apartment Center Inc, founded in 2004, is a small nonprofit in the Housing & Shelter sector that reported $175K in total revenue in fiscal year 2023. Expenses of $314K exceeded revenue, resulting in a 79% operating deficit.

Mission

Own and operate a 26 unit low income apartment project for the elderly living on the Red Lake Reservation.

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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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $174,078

Investment Income $1,334

Other Revenue $0

TOTAL REVENUE $175,412

Expense Breakdown

Grants Paid $0

Salaries & Benefits $83,984

Fundraising Expenses $0

Program Expenses $244,698

Other Expenses $230,499

TOTAL EXPENSES $314,483

Year-over-Year Comparison

	2023	2022	Change
Revenue	$175,412	$168,843	+0.0%
Expenses	$314,483	$292,625	+0.1%
Net Income	$-139,071	$-123,782	+0.1%

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
Lorena Cook	President	2.00	Officer Director	$0	$0	$0
Karen Bedeau	Secretary/Treasurer	2.00	Officer Director	$0	$0	$0
Jane Barrett	Board Member	1.00	Director	$0	$0	$0
Donna Sumner	Board Member	1.00	Director	$0	$0	$0
Barbara Thomas	Board Member	1.00	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	$175,412	$314,483	$1,442,589	$-139,071
2023	$168,843	$292,625	$1,569,016	$-123,782
2022	$164,358	$209,481	$1,675,880	$-45,123
2021	$191,127	$218,207	$1,726,182	$-27,080
2020	$172,569	$188,249	$1,749,352	$-15,680
2019	$178,591	$204,611	$1,761,074	$-26,020

Red Lake Senior Apartment Center Inc