MOUNT OLIVE GARDENS NO 1 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

1969

Legal Domicile

Principal Officer

JONATHAN ALLEN

Phone

9544635126

Tax Period

2023-09-01 to 2024-08-31

MOUNT OLIVE GARDENS NO 1 INC, founded in 1969, is a small nonprofit that reported $795K in total revenue in fiscal year 2023. Revenue decreased 6% compared to the prior year. Expenses of $1.0M exceeded revenue, resulting in a 30% operating deficit.

Mission

TO PROMOTE AND ADVANCE THE WELFARE OF THE COMMUNITY. THE ORGANIZATION WAS FORMED FOR THE PURPOSE OF CONSTRUCTING, MAINTAINING AND OPERATING A MULTIFAMILY GOVERNMENT ASSISTED HOUSING PROJECT OF 60 UNITS, UNDER SECTION 221(D)(3) OF THE NATIONAL HOUSING ACT, FOR LOW-TO-MODERATE INCOME RESIDENTS.

Program Service Accomplishments

Program 1

Expenses: $974,663 Revenue: $766,436

MOUNT OLIVE GARDENS NO. 1, INC. (HUD PROJECT NO. 066-35032) HAS A SECTION 8 HOUSING ASSISTANCE PAYMENT CONTRACT (THE HAP CONTRACT) FOR 59 UNITS. THE HAP CONTRACT IS FOR A TEN-YEAR PERIOD BEGINNING...

MOUNT OLIVE GARDENS NO. 1, INC. (HUD PROJECT NO. 066-35032) HAS A SECTION 8 HOUSING ASSISTANCE PAYMENT CONTRACT (THE HAP CONTRACT) FOR 59 UNITS. THE HAP CONTRACT IS FOR A TEN-YEAR PERIOD BEGINNING JUNE 1, 2017, AND PROVIDES FOR FUNDS BASED ON AVAILABILITY OF SUFFICIENT APPROPRIATIONS IN THE AMOUNT DETERMINED BY HUD TO BE SUFFICIENT FOR COVERING THE PROJECT EXPENSES. THE MAJOR HUD ASSISTED PROGRAM FOR MOG IS THE BELOW-MARKET RATE INTEREST LOAN ASSISTANCE UNDER SECTION 221. THE SECTION 221 PROGRAM IMPOSES RENT RESTRICTIONS AND OTHER REQUIREMENTS.

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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 $766,436

Investment Income $28,984

Other Revenue $0

TOTAL REVENUE $795,420

Expense Breakdown

Grants Paid $0

Salaries & Benefits $158,698

Fundraising Expenses $0

Program Expenses $974,663

Other Expenses $877,114

TOTAL EXPENSES $1,035,812

Year-over-Year Comparison

	2023	2022	Change
Revenue	$795,420	$846,878	-0.1%
Expenses	$1,035,812	$918,775	+0.1%
Net Income	$-240,392	$-71,897	+2.3%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
VERONICA PINO	DIRECTOR	1.00	Director	$0	$0	$0
JONATHAN ALLEN	PRESIDENT	1.00	Officer Director	$0	$0	$0
TAMELA LUMPKINS STARKS	VICE PRESIDENT & SECRETARY	1.00	Officer Director	$0	$0	$0
RONALD HOLT	TREASURER	1.00	Officer Director	$0	$0	$0
KEVIN ANDERSON	DIRECTOR	1.00	Director	$0	$0	$0
BEVERLY JACKSON	DIRECTOR	1.00	Director	$0	$0	$0
AVOLENE CHANGE	PRESIDENT	10.00	Officer	$0	$0	$0
DOROTHEA PAYTON	SECRETARY	1.00	Officer	$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	$795,420	$1,035,812	$973,595	$-240,392
2023	$846,878	$918,775	$1,530,592	$-71,897
2022	$748,855	$675,786	$1,312,238	$73,069
2021	$678,267	$628,965	$1,211,755	$49,302
2020	$706,500	$527,160	$1,136,842	$179,340
2019	$688,256	$548,097	$945,044	$140,159
2018	$683,114	$424,048	$808,783	$259,066