WHITFIELD PLACE INC (EIN 582103085) - 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

1994

Legal Domicile

Principal Officer

JULIE A SOEKORO

Phone

7062727000

Tax Period

2023-10-01 to 2024-09-30

WHITFIELD PLACE INC, founded in 1994, is a small nonprofit in the Housing & Shelter sector that reported $288K in total revenue in fiscal year 2023. Expenses of $354K exceeded revenue, resulting in a 23% operating deficit.

Mission

THE GOAL OF WHITFIELD PLACE IS TO PROVIDE LOW INCOME HOUSING FOR THE ELDERLY AS WELL AS TO OFFER THEM OPPORTUNITIES TO PARTICIPATE IN SOCIAL AND CULTURAL ACTIVITIES. SOME ACTIVITIES INCLUDE: OLDER AMERICANS MONTH CELEBRATED EACH MAY AND HOLIDAYS CELEBRATED INCLUDING NEW YEAR'S EVE SERVICE, VALENTINE'S DAY, ST. PATRICK'S DAY, EASTER, MOTHER'S AND FATHER'S DAYS, AND CHRISTMAS.

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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 $278,203

Investment Income $0

Other Revenue $10,038

TOTAL REVENUE $288,241

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $269,028

Other Expenses $353,650

TOTAL EXPENSES $353,650

Year-over-Year Comparison

	2023	2022	Change
Revenue	$288,241	$283,935	+0.0%
Expenses	$353,650	$331,034	+0.1%
Net Income	$-65,409	$-47,099	+0.4%

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

$2,682,036

Total Directors

$2,484,873

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JEFFREY D MYERS	PRESIDENT/CEO AND VICE CHAIR	1.00	Officer Director	$0	$119,279	$1,673,818
JULIE A SOEKORO	VP/CFO/SECRETARY TREASURER	1.00	Officer Director	$0	$109,497	$811,055
J DAVID GREGG	CHAIRMAN	1.00	Officer Director	$0	$0	$0
OLIVER F COBB	TRUSTEE	1.00	Director	$0	$0	$0
REV SUZANNE W HOOIE	TRUSTEE	1.00	Director	$0	$0	$0
ROBERT B HUBBS	TRUSTEE	1.00	Director	$0	$0	$0
HANNAH C JONES	TRUSTEE	1.00	Director	$0	$0	$0
STEVEN P BRIDENSTINE	ASSISTANT TREASURER	1.00	Officer	$0	$1,111	$197,163
DOUG PEEPLES	TRUSTEE	1.00	Director	$0	$0	$0
JULIE L THARPE	TRUSTEE	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	$288,241	$353,650	$1,183,701	$-65,409
2023	$283,935	$331,034	$1,280,324	$-47,099
2022	$234,852	$466,522	$1,304,237	$-231,670
2021	$224,977	$376,499	$1,377,032	$-151,522
2020	$232,307	$258,700	$1,484,105	$-26,393
2019	$239,812	$292,122	$1,550,472	$-52,310
2018	$244,383	$371,855	$1,594,075	$-127,472

WHITFIELD PLACE INC