American Heritage Apartments Inc (EIN 621501638) - 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

1992

Legal Domicile

Principal Officer

William D Weitzel

Phone

9038323000

Tax Period

2022-07-01 to 2023-06-30

American Heritage Apartments Inc, founded in 1992, is a community nonprofit that reported $3.5M in total revenue in fiscal year 2022. Revenue decreased 15% compared to the prior year. Expenses of $5.1M exceeded revenue, resulting in a 48% operating deficit.

Mission

Quality affordable housing. We offer reduced rent to low and very low income individuals and families. We dedicate 35% of our units to this purpose. We receive no funding from outside sources to assist with this endeavor.

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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 $0

Program Service Revenue $1,790,009

Investment Income $1,338,092

Other Revenue $344,604

TOTAL REVENUE $3,472,705

Expense Breakdown

Grants Paid $44,713

Salaries & Benefits $2,071,364

Fundraising Expenses $0

Program Expenses $4,078,586

Other Expenses $3,020,389

TOTAL EXPENSES $5,136,466

Year-over-Year Comparison

	2022	2021	Change
Revenue	$3,472,705	$4,069,211	-0.1%
Expenses	$5,136,466	$5,576,820	-0.1%
Net Income	$-1,663,761	$-1,507,609	+0.1%

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

$793,457

Total Directors

$868,122

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Lonny D Weitzel	Vice President	40.00	Officer Director	$435,091	$0	$435,091
William D Weitzel	President	40.00	Officer Director	$358,366	$0	$358,366
Charlene Carter	Comptroller	40.00		$147,589	$0	$147,589
Brendon Peterson	Board Member	40.00	Director	$74,665	$0	$74,665
James Henry Fincher	Board Member	0.00	Director	$0	$0	$0
Kenneth Straw	Board Member	0.00	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	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$3,472,705	$5,136,466	$44,871,936	$-1,663,761
2022	$4,069,211	$5,577,090	$48,564,137	$-1,507,879
2021	$3,223,514	$4,567,111	$47,846,134	$-1,343,597

American Heritage Apartments Inc