AHEPA 489 APARTMENTS INC (EIN 593760329) - 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

2001

Legal Domicile

Principal Officer

DEMETRIOS MAKRIS

Phone

7278430636

Tax Period

2024-07-01 to 2025-06-30

AHEPA 489 APARTMENTS INC, founded in 2001, is a small nonprofit in the Housing & Shelter sector that reported $623K in total revenue in fiscal year 2024. Revenue grew 17% year-over-year, indicating healthy expansion. Net assets of $2.0M represent 38 months of operating reserves.

Mission

THE CORPORATION WAS ORGANIZED TO CONSTRUCT, OWN, AND OPERATE AN AFFORDABLE HOUSING APARTMENT COMMUNITY.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $611,413

Investment Income $10,802

Other Revenue $1,225

TOTAL REVENUE $623,440

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $565,539

Other Expenses $608,559

TOTAL EXPENSES $608,559

Year-over-Year Comparison

	2024	2023	Change
Revenue	$623,440	$534,596	+0.2%
Expenses	$608,559	$594,399	+0.0%
Net Income	$14,881	$-59,803	-1.2%

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

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
DEMETRIOS MAKRIS	PRESIDENT	1.00	Officer Director	$0	$0	$0
BILL MAKRIS	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
ERICK V MEJIA	SECRETARY	1.00	Officer Director	$0	$0	$0
DEAN MAKRIS	TREASURER	1.00	Officer Director	$0	$0	$0
STEVE PHOTIADES	DIRECTOR	1.00	Director	$0	$0	$0
YORGO MULLENAX	DIRECTOR	1.00	Director	$0	$0	$0
JOE O'NEIL	DIRECTOR	1.00	Director	$0	$0	$0
THEOFANIS MAKRIS	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	$623,440	$608,559	$2,155,404	$14,881
2024	$534,596	$594,399	$2,287,153	$-59,803
2023	$489,065	$542,930	$2,219,875	$-53,865
2022	$465,816	$557,951	$2,304,029	$-92,135
2021	$450,328	$507,135	$2,424,026	$-56,807
2020	$437,551	$503,104	$2,537,539	$-65,553
2019	$413,861	$476,695	$2,603,650	$-62,834
2018	$404,033	$475,077	$2,670,957	$-71,044

AHEPA 489 APARTMENTS INC