CARVER APARTMENTS INC

EIN: 570537717 501(c)(3) Housing & Shelter

WEST COLUMBIA, SC

Total Revenue
$435,532
Total Expenses
$472,690
Total Assets
$306,810
Net Assets
$169,798
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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
1969
Legal Domicile
SC
Principal Officer
MICHAEL CHESTNUT
Phone
8038083966
Tax Period
2024-01-01 to 2024-12-31

CARVER APARTMENTS INC, founded in 1969, is a small nonprofit in the Housing & Shelter sector that reported $436K in total revenue in fiscal year 2024.

Mission

LOW INCOME HOUSING

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $313,338
Program Service Revenue $122,194
Investment Income $0
Other Revenue $0
TOTAL REVENUE $435,532

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $435,373
Other Expenses $472,690
TOTAL EXPENSES $472,690

Year-over-Year Comparison

2024 2023 Change
Revenue $435,532 $410,948 +0.1%
Expenses $472,690 $508,145 -0.1%
Net Income $-37,158 $-97,197 -0.6%
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

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Governance

Voting Members
6
Independent Members
6
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
0
$0
Total Directors
6
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DORIS ABRAHAM TRUSTEE 0.50
Director
$0 $0 $0
MICHAEL CHESTNUT CHAIRMAN 0.50
Director
$0 $0 $0
LINDA DAVIS TRUSTEE 0.50
Director
$0 $0 $0
JOYCE GLOVER SECRETARY 0.50
Director
$0 $0 $0
CAROLYN JACKSON TRUSTEE 0.50
Director
$0 $0 $0
DEACON WALKER LEWIS TRUSTEE 0.50
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 $435,532 $472,690 $306,810 $-37,158
2023 $410,948 $508,145 $371,486 $-97,197
2022 $401,826 $453,320 $491,101 $-51,494
2021 $395,923 $382,325 $572,428 $13,598
2020 $399,027 $330,831 $574,511 $68,196
2019 $367,918 $294,228 $515,266 $73,690
2018 $359,340 $349,942 $464,308 $9,398
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