FIRST COAST APARTMENT ASSOCIATION (EIN 592546718) - 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

1991

Legal Domicile

Principal Officer

JIM FORLENZA

Phone

9042921345

Tax Period

2025-01-01 to 2025-12-31

FIRST COAST APARTMENT ASSOCIATION, founded in 1991, is a small nonprofit in the Housing & Shelter sector that reported $823K in total revenue in fiscal year 2025.

Mission

TO PROMOTE, INFORM AND SERVE THE APARTMENT INDUSTRY THROUGH EDUCATION, LEGISLATION AND PROFESSIONAL NETWORKING.

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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 (2025)

Revenue Breakdown

Contributions & Grants $448,660

Program Service Revenue $119,925

Investment Income $25,572

Other Revenue $229,072

TOTAL REVENUE $823,229

Expense Breakdown

Grants Paid $0

Salaries & Benefits $337,899

Fundraising Expenses $0

Program Expenses $800,984

Other Expenses $463,085

TOTAL EXPENSES $800,984

Year-over-Year Comparison

	2025	2024	Change
Revenue	$823,229	$775,712	+0.1%
Expenses	$800,984	$762,491	+0.1%
Net Income	$22,245	$13,221	+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

Governance

Voting Members

Independent Members

Employees

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

$126,000

Total Directors

$126,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JODY MAYOR	DIRECTOR	1.00	Director	$0	$0	$0
SHANNON GREGORY	DIRECTOR	1.00	Director	$0	$0	$0
BRENDA SHERRILL	SECRETARY, TREASURER	1.00	Officer Director	$0	$0	$0
KATIE WRENN	DIRECTOR	1.00	Director	$0	$0	$0
MELISSA BENES	DIRECTOR	1.00	Director	$0	$0	$0
BRITTANY GELINAS	DIRECTOR	1.00	Director	$0	$0	$0
DANIELLE STACY	DIRECTOR	1.00	Director	$0	$0	$0
MICHELLE MURPHY	PRESIDENT-ELECT	1.00	Officer Director	$0	$0	$0
JIM FORLENZA	CHIEF EXECUTIVE OFFICER	45.00	Officer Director	$126,000	$0	$126,000
APRIL HUDSON	DIRECTOR	1.00	Director	$0	$0	$0
MELISSA RILEY	DIRECTOR	1.00	Director	$0	$0	$0
MELISSA FELICIANO	DIRECTOR	1.00	Director	$0	$0	$0
JULIA FURBER	PRESIDENT	1.00	Officer Director	$0	$0	$0
KATE SCHERMERHORN	DIRECTOR	1.00	Director	$0	$0	$0
KEN FURTAW	DIRECTOR	1.00	Director	$0	$0	$0
BRIANNE KOCHER	DIRECTOR	1.00	Director	$0	$0	$0
JUSTIN KURALT	DIRECTOR	1.00	Director	$0	$0	$0
BEN ZEIGLER	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
2025	$823,229	$800,984	$783,260	$22,245
2024	$775,712	$762,491	$747,199	$13,221
2023	$727,603	$681,149	$669,591	$46,454
2022	$654,170	$625,380	$648,421	$28,790
2021	$589,851	$544,371	$674,170	$45,480
2020	$445,277	$475,449	$671,128	$-30,172
2019	$731,370	$698,117	$616,360	$33,253
2018	$695,157	$627,386	$596,254	$67,771

FIRST COAST APARTMENT ASSOCIATION