THE NAVIGATOR CORPORATION

EIN: 570551240 501(c)(3) Housing & Shelter

MATTHEWS, NC

Total Revenue
$3,043,024
Total Expenses
$2,828,603
Total Assets
$11,005,854
Net Assets
$-2,506,427
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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
MARK SCHIMMOELLER
Phone
7048825415
Tax Period
2023-07-01 to 2024-06-30

THE NAVIGATOR CORPORATION, founded in 1969, is a community nonprofit in the Housing & Shelter sector that reported $3.0M in total revenue in fiscal year 2023. Revenue grew 13% year-over-year, indicating healthy expansion. Expenses of $2.8M left a modest 7% surplus.

Mission

THE NAVIGATOR CORPORATION WAS ORGANIZED FOR THE PURPOSE OF DEVELOPING AND OPERATING CHRISTOPHER TOWERS, A 225 UNIT APARTMENT COMMUNITY IN COLUMBIA, SOUTH CAROLINA, IN ORDER TO PROVIDE SAFE AND AFFORDABLE HOUSING FOR THE ELDERLY. THE CORPORATION OPERATES THE PROJECT UNDER THE PROVISIONS OF SECTION 221(D)(3) OF THE NATIONAL HOUSING ACT OF 1959, WITH MORTGAGE INSURANCE PROVIDED BY THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD).

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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 (2023)

Revenue Breakdown

Contributions & Grants $1,829,069
Program Service Revenue $1,205,672
Investment Income $237
Other Revenue $8,046
TOTAL REVENUE $3,043,024

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $2,748,601
Other Expenses $2,828,603
TOTAL EXPENSES $2,828,603

Year-over-Year Comparison

2023 2022 Change
Revenue $3,043,024 $2,701,632 +0.1%
Expenses $2,828,603 $3,085,995 -0.1%
Net Income $214,421 $-384,363 -1.6%
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
10
Independent Members
10
Employees
N/A
Volunteers
10

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
5
$0
Total Directors
10
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MARK SCHIMMOELLER PRESIDENT 8.00
Officer Director
$0 $0 $0
JOHN SISARIO 2ND VICE PRESIDENT 4.00
Officer Director
$0 $0 $0
BILL MASON SECRETARY 4.00
Officer Director
$0 $0 $0
RALPH GIANGRANDI AUDITOR 8.00
Officer Director
$0 $0 $0
JAMES SANSONETTI DIRECTOR 0.50
Director
$0 $0 $0
DONALD VANBORSCH DIRECTOR 0.50
Director
$0 $0 $0
ROBERT WIGGS JR DIRECTOR 0.50
Director
$0 $0 $0
DANIEL LEONARDI DIRECTOR 0.50
Director
$0 $0 $0
MICHAEL MANCARI 1ST VICE PRESIDENT 4.00
Officer Director
$0 $0 $0
MICHAEL MIKA DIRECTOR 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 $3,043,024 $2,828,603 $11,005,854 $214,421
2023 $2,701,632 $3,085,995 $10,991,108 $-384,363
2022 $2,413,001 $2,915,223 $11,423,752 $-502,222
2021 $2,418,837 $3,150,746 $12,003,315 $-731,909
2020 $3,230,501 $2,958,375 $12,199,431 $272,126
2019 $2,451,164 $2,558,612 $10,188,621 $-107,448
2018 $2,303,153 $2,588,855 $10,444,261 $-285,702
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