BROADWAY TOWERS INC (EIN 581354973) - 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

1979

Legal Domicile

Principal Officer

GERALD EICKHOFF

Phone

6783302000

Tax Period

2024-01-01 to 2024-12-31

BROADWAY TOWERS INC, founded in 1979, is a community nonprofit in the Housing & Shelter sector that reported $2.6M in total revenue in fiscal year 2024. Revenue fell 79% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $821K, a strong 31% operating margin.

Mission

MANAGEMENT OF 3 APARTMENT COMPLEXES FOR THE BENEFIT OF ELDERLY AND HANDICAPPED RESIDENTS AND OTHER PUBLIC BENEFIT AND CHARITABLE PURPOSES.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $1,693,608

Investment Income $939,276

Other Revenue $8,828

TOTAL REVENUE $2,641,712

Expense Breakdown

Grants Paid $272,000

Salaries & Benefits $324,045

Fundraising Expenses $0

Program Expenses $1,708,345

Other Expenses $1,224,982

TOTAL EXPENSES $1,821,027

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,641,712	$12,784,458	-0.8%
Expenses	$1,821,027	$2,761,174	-0.3%
Net Income	$820,685	$10,023,284	-0.9%

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
GERALD EICKHOFF	PRESIDENT	0.50	Officer Director	$0	$0	$0
JOSEPH F GLENN	VICE PRESIDENT	0.50	Officer Director	$0	$0	$0
ELIZABETH C GLENN	SECRETARY/TREASURER	0.50	Officer Director	$0	$0	$0
EARLEEN ABERNATHY	ASSISTANT SECRETARY/VICE PRESIDENT	0.50	Officer Director	$0	$0	$0
ROBERT L REINHART	DIRECTOR	0.50	Director	$0	$0	$0
KIM DELACEY	DIRECTOR	0.50	Director	$0	$0	$0
LARRY GAY REAGIN	DIRECTOR	0.50	Director	$0	$0	$0
REBECCA BUMM	DIRECTOR	0.50	Director	$0	$0	$0
BARRY BUMM	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	$2,641,712	$1,821,027	$26,963,007	$820,685
2023	$12,784,458	$2,761,174	$26,270,124	$10,023,284
2022	$3,394,281	$2,625,272	$17,793,072	$769,009
2021	$3,119,210	$4,332,719	$17,531,706	$-1,213,509
2020	$12,449,336	$16,509,234	$19,198,034	$-4,059,898
2019	$4,694,753	$6,014,364	$24,442,676	$-1,319,611
2018	$18,647,376	$4,277,470	$25,517,124	$14,369,906

BROADWAY TOWERS INC