INDEPENDENCE PLACE 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

1992

Legal Domicile

Principal Officer

NELSON WALKER

Phone

8034352330

Tax Period

2023-07-01 to 2024-06-30

INDEPENDENCE PLACE INC, founded in 1992, is a micro nonprofit in the Housing & Shelter sector that reported $78K in total revenue in fiscal year 2023. Expenses of $90K exceeded revenue, resulting in a 15% operating deficit.

Mission

TO PROVIDE AFFORDABLE HOUSING FOR LOW AND MODERATE-INCOME HANDICAPPED INDIVIDUALS.

Program Service Accomplishments

Program 1

Expenses: $73,816 Revenue: $41,467

TO PERMIT INDIVIDUALS WITH DEVELOPMENTAL DISABILITIES TO REMAIN IN THEIR HOMES IF DESIRABLE AND POSSIBLE. IF NOT, TO LIVE IN A COMMUNITY SETTING WITH CHARACTERISTICS AS NEAR TO NORMAL AS POSSIBLE FOR...

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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 $36,581

Program Service Revenue $41,467

Investment Income $25

Other Revenue $0

TOTAL REVENUE $78,073

Expense Breakdown

Grants Paid $0

Salaries & Benefits $11,188

Fundraising Expenses $0

Program Expenses $73,816

Other Expenses $78,878

TOTAL EXPENSES $90,066

Year-over-Year Comparison

	2023	2022	Change
Revenue	$78,073	$78,087	0.0%
Expenses	$90,066	$73,606	+0.2%
Net Income	$-11,993	$4,481	-3.7%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KATHLEEN L GIBSON	DIRECTOR	1.00	Director	$0	$0	$0
DELORIS ISRAEL	DIRECTOR	1.00	Director	$0	$0	$0
JOHNNIE L EVANS	DIRECTOR	1.00	Director	$0	$0	$0
DEBBIE M LEE	DIRECTOR	1.00	Director	$0	$0	$0
GINA G WILSON	DIRECTOR	1.00	Director	$0	$0	$0
CONNIE GAMBLE	DIRECTOR	1.00	Director	$0	$0	$0
HARRIETT RAWLINSON	DIRECTOR	1.00	Director	$0	$0	$0
NELSON WALKER	CHAIRMAN	4.00	Officer	$0	$0	$0
WRIGHT TURBEVILLE	VICE-CHAIRMAN	1.00	Officer	$0	$0	$0
AL GIBBONS	SECRETARY/TREASURER	1.00	Officer	$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	No data	No data	No data	No data
2024	$78,073	$90,066	$117,572	$-11,993
2023	$78,087	$73,606	$129,562	$4,481
2022	$78,591	$112,524	$150,147	$-33,933
2021	$76,556	$99,617	$159,062	$-23,061
2020	$78,078	$93,501	$182,285	$-15,423
2019	$77,843	$79,866	$196,857	$-2,023