Lake Worth Towers Inc (EIN 591149040) - 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

1965

Legal Domicile

Principal Officer

Robert Spear

Phone

5615857591

Tax Period

2022-01-01 to 2022-12-31

Lake Worth Towers Inc, founded in 1965, is a small nonprofit in the Housing & Shelter sector that reported $561K in total revenue in fiscal year 2022. Revenue grew 11% year-over-year, indicating healthy expansion. Expenses of $510K left a modest 9% surplus.

Mission

The Organization operates an apartment building that provides low income housing for the elderly

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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 (2022)

Revenue Breakdown

Contributions & Grants $100,000

Program Service Revenue $0

Investment Income $105

Other Revenue $461,218

TOTAL REVENUE $561,323

Expense Breakdown

Grants Paid $0

Salaries & Benefits $315,501

Fundraising Expenses $0

Program Expenses $509,720

Other Expenses $194,219

TOTAL EXPENSES $509,720

Year-over-Year Comparison

	2022	2021	Change
Revenue	$561,323	$505,309	+0.1%
Expenses	$509,720	$510,792	0.0%
Net Income	$51,603	$-5,483	-10.4%

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

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
Robert Spear	Administrator	50.00		$110,773	$0	$110,773
Dennis Moore	President	1.00	Officer Director	$0	$0	$0
Robert C Sorgini	Secretary	1.00	Officer Director	$0	$0	$0
Brian Wilson	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
2023	No data	No data	No data	No data
2022	$561,323	$509,720	$1,304,981	$51,603
2021	$505,309	$510,792	$1,057,291	$-5,483
2020	$536,788	$458,669	$619,099	$78,119
2019	$534,615	$463,470	$657,533	$71,145
2018	$483,251	$409,568	$557,264	$73,683

Lake Worth Towers Inc