BANJO LANE APARTMENTS INC

EIN: 611593415 501(c)(3) Housing & Shelter

CENTREVILLE, MD

Total Revenue
$75,160
Total Expenses
$110,808
Total Assets
$1,255,117
Net Assets
$81,612
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2009
Legal Domicile
MD
Principal Officer
TRACEY PATRICK
Phone
4107583050
Tax Period
2024-07-01 to 2025-06-30

BANJO LANE APARTMENTS INC, founded in 2009, is a micro nonprofit in the Housing & Shelter sector that reported $75K in total revenue in fiscal year 2024. Expenses of $111K exceeded revenue, resulting in a 47% operating deficit.

Mission

TO PROVIDE AFFORDABLE HOUSING TO THE CHRONICALLY MENTALLY DISABLED UNDER SECTION 811 OF THE NATIONAL AFFORDABLE HOUSING ACT.

Program Service Accomplishments

Program 1
Expenses: $87,641 Revenue: $40,389

BANJO LANE APARTMENTS, INC. WAS ORGANIZED IN FEBRUARY 2009 UNDER THE PROVISIONS OF THE STATE OF MARYLAND FOR THE PURPOSE OF DEVELOPING AND OPERATING HOUSING AND RELATED FACILITIES FOR PERSONS WHO...

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BANJO LANE APARTMENTS, INC. WAS ORGANIZED IN FEBRUARY 2009 UNDER THE PROVISIONS OF THE STATE OF MARYLAND FOR THE PURPOSE OF DEVELOPING AND OPERATING HOUSING AND RELATED FACILITIES FOR PERSONS WHO SUFFER FROM CHRONIC MENTAL ILLNESS. THE ENTITY WAS FINANCED THROUGH THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT ("HUD") UNDER SECTION 811 AND CONSISTS OF 10 UNITS ELIGIBLE FOR HUD PROJECT RENTAL ASSISTANCE. SUCH ENTITIES ARE REGULATED BY HUD AS TO RENT CHARGES AND OPERATING METHODS.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $34,709
Program Service Revenue $40,389
Investment Income $60
Other Revenue $2
TOTAL REVENUE $75,160

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $87,641
Other Expenses $110,808
TOTAL EXPENSES $110,808

Year-over-Year Comparison

2024 2023 Change
Revenue $75,160 $71,923 +0.0%
Expenses $110,808 $106,572 +0.0%
Net Income $-35,648 $-34,649 +0.0%
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

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Liquidity & Cash Position

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Governance

Voting Members
6
Independent Members
4
Employees
N/A
Volunteers
7

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
3
$180,230
Total Directors
7
$180,230
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
TRACEY PATRICK SECRETARY 0.30
Officer Director
$0 $10,627 $53,280
MAURICE SALAMONE PRESIDENT THRU DEC 2024 0.30
Officer Director
$0 $13,467 $56,055
BRIAN LAMBERT PRESIDENT 0.30
Officer Director
$0 $10,560 $70,895
CINDI BOONE DIRECTOR 0.30
Director
$0 $0 $0
LEA BROOKS DIRECTOR 0.30
Director
$0 $0 $0
JA'KEIRA HOLLIDAY DIRECTOR 0.30
Director
$0 $0 $0
DIANE LANE DIRECTOR 0.30
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 $75,160 $110,808 $1,255,117 $-35,648
2024 $71,923 $106,572 $1,282,182 $-34,649
2023 $71,307 $104,471 $1,314,096 $-33,164
2022 $68,062 $111,744 $1,351,961 $-43,682
2021 $66,865 $97,687 $1,390,804 $-30,822
2020 $65,961 $99,693 $1,416,119 $-33,732
2019 $59,276 $87,321 $1,444,327 $-28,045
2018 $56,739 $87,767 $1,475,002 $-31,028
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