UPPER STATE APARTMENT ASSOCIATION (EIN 570770091) - 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

1985

Legal Domicile

Principal Officer

JOYE DAVIS

Phone

8642420200

Tax Period

2023-01-01 to 2023-12-31

UPPER STATE APARTMENT ASSOCIATION, founded in 1985, is a small nonprofit that reported $594K in total revenue in fiscal year 2023. The organization ran a surplus of $111K, a strong 19% operating margin.

Mission

THE PRIMARY PURPOSE OF THE ORGANIZATION IS THE BETTERMENT OF TENANT LIFE IN THE UPSTATE OF SOUTH CAROLINA.

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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 $452,856

Investment Income $9,872

Other Revenue $131,189

TOTAL REVENUE $593,917

Expense Breakdown

Grants Paid $0

Salaries & Benefits $211,028

Fundraising Expenses $8,669

Program Expenses $459,703

Other Expenses $271,956

TOTAL EXPENSES $482,984

Year-over-Year Comparison

	2023	2022	Change
Revenue	$593,917	$561,302	+0.1%
Expenses	$482,984	$424,819	+0.1%
Net Income	$110,933	$136,483	-0.2%

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

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

$96,413

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JASON BUSHNELL	DIRECTOR	1.00	Director	$0	$0	$0
ALYSSA CLAIR	DIRECTOR	1.00	Director	$0	$0	$0
RACHEL COBB	TREASURER	1.00	Officer Director	$0	$0	$0
KATY DUNCAN	PRESIDENT	1.00	Officer Director	$0	$0	$0
ELISABETH GARRETT	DIRECTOR	1.00	Director	$0	$0	$0
MERRITT KING	DIRECTOR	1.00	Director	$0	$0	$0
HANNAH LOCKARD	DIRECTOR	1.00	Director	$0	$0	$0
ALEXIS MCPHERSON	DIRECTOR	1.00	Director	$0	$0	$0
MARK SHARP	PRESIDENT - ELECT	1.00	Director	$0	$0	$0
KATIE STONE	DIRECTOR	1.00	Director	$0	$0	$0
STERLING TYNER	SECRETARY	1.00	Officer Director	$0	$0	$0
JOYE DAVIS	EXECUTIVE DIRECTOR	40.00	Officer	$94,700	$1,713	$96,413

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	No data	No data	No data	No data
2023	$593,917	$482,984	$766,755	$110,933
2022	$561,302	$424,819	$653,758	$136,483
2021	$453,198	$291,908	$515,270	$161,290
2020	$361,513	$336,392	$353,791	$25,121
2019	$433,112	$318,072	$328,266	$115,040
2018	$434,376	$353,021	$211,177	$81,355

UPPER STATE APARTMENT ASSOCIATION