ALDERSGATE II 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

1984

Legal Domicile

Principal Officer

LARRY PROCTOR

Phone

3365442300

Tax Period

2023-01-01 to 2023-12-31

ALDERSGATE II INC, founded in 1984, is a small nonprofit in the Housing & Shelter sector that reported $381K in total revenue in fiscal year 2023.

Mission

TO PROVIDE AFFORDABLE HOUSING TO SENIOR CITIZENS IN THE GREENSBORO, NC AREA.

Program Service Accomplishments

Program 1

Expenses: $374,431 Revenue: $142,103

TO OPERATE A 40-UNIT APARTMENT COMPLEX FOR THE ELDERLY IN GREENSBORO, NC, UNDER SECTION 202 OF THE NATIONAL HOUSING ACT. THE PROJECT IS REGULATED BY THE UNITED STATES DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT ("HUD") AS TO RENTAL RATES AND OPERATING METHODS. ADDITIONALLY, UNITS IN THE PROJECT ARE COVERED UNDER A HOUSING ASSISTANCE PAYMENTS CONTRACT WITH HUD AND A SIGNIFICANT PORTION OF THE PROJECT'S RENTAL INCOME IS RECEIVED FROM 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%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $236,316

Program Service Revenue $131,820

Investment Income $2,556

Other Revenue $10,283

TOTAL REVENUE $380,975

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $374,431

Other Expenses $381,790

TOTAL EXPENSES $381,790

Year-over-Year Comparison

	2023	2022	Change
Revenue	$380,975	$367,497	+0.0%
Expenses	$381,790	$428,863	-0.1%
Net Income	$-815	$-61,366	-1.0%

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
LARRY PROCTOR	CHAIRMAN	1.00	Officer Director	$0	$0	$0
VANCE WHICKER	VICE CHAIR	1.00	Officer Director	$0	$0	$0
HAROLD PROCTOR	TREASURER	1.00	Officer Director	$0	$0	$0
LEW MOORE	SECRETARY	1.00	Officer Director	$0	$0	$0
DON VENABLE	DIRECTOR	1.00	Director	$0	$0	$0
BEN BROTHERS	DIRECTOR	1.00	Director	$0	$0	$0
REV SUSAN HOYLE	DIRECTOR	1.00	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	No data	No data	No data	No data
2023	$380,975	$381,790	$2,394,803	$-815
2022	$367,497	$428,863	$2,435,314	$-61,366
2021	$376,191	$381,513	$2,541,956	$-5,322
2020	$362,585	$375,969	$2,593,119	$-13,384
2019	$358,572	$377,598	$2,647,603	$-19,026
2018	$385,439	$372,901	$2,689,840	$12,538