INDEPENDENT APARTMENTS INC

EIN: 581838807 501(c)(3)

GERMANTOWN, TN

Total Revenue
$366,573
Total Expenses
$362,178
Total Assets
$633,753
Net Assets
$-376,501
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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

Principal Officer
ANDREW FORSDICK
Phone
9017591855
Tax Period
2023-07-01 to 2024-06-30

INDEPENDENT APARTMENTS INC is a small nonprofit that reported $367K in total revenue in fiscal year 2023. Revenue grew 9% year-over-year, indicating healthy expansion.

Mission

PROVIDE SUBSIDIZED HOUSING FOR THE MOBILITY IMPAIRED.

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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 $55,962
Program Service Revenue $307,271
Investment Income $3,340
Other Revenue $0
TOTAL REVENUE $366,573

Expense Breakdown

Grants Paid $0
Salaries & Benefits $14,132
Fundraising Expenses $0
Program Expenses $322,084
Other Expenses $348,046
TOTAL EXPENSES $362,178

Year-over-Year Comparison

2023 2022 Change
Revenue $366,573 $335,558 +0.1%
Expenses $362,178 $322,706 +0.1%
Net Income $4,395 $12,852 -0.7%
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

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Governance

Voting Members
4
Independent Members
4
Employees
3
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
2
$0
Total Directors
4
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ANDREW FORSDICK CHAIRMAN N/A
Officer Director
$0 $0 $0
RICHARD POWELL SECRETARY/TR N/A
Officer Director
$0 $0 $0
DAN DIERKES MEMBER N/A
Director
$0 $0 $0
JOHN HOMA MEMBER N/A
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
2025 No data No data No data No data
2024 $366,573 $362,178 $633,753 $4,395
2023 $335,558 $322,706 $583,738 $12,852
2022 $324,094 $356,250 $599,378 $-32,156
2021 $301,735 $491,842 $782,426 $-190,107
2020 $305,303 $320,486 $337,140 $-15,183
2019 $310,031 $298,467 $376,418 $11,564
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