FAIRGROUND APARTMENTS 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

2005

Legal Domicile

Principal Officer

MYRA WALKER

Phone

9314324111

Tax Period

2024-07-01 to 2025-06-30

FAIRGROUND APARTMENTS INC, founded in 2005, is a micro nonprofit in the Housing & Shelter sector that reported $93K in total revenue in fiscal year 2024. Expenses of $132K exceeded revenue, resulting in a 42% operating deficit.

Mission

TO PROVIDE SUBSIDIZED HOUSING FOR THE DISABLED.

Program Service Accomplishments

Program 1

Expenses: $119,782 Revenue: $49,637

THE ORGANIZATION OPERATES AN ELEVEN UNIT APARTMENT COMPLEX FOR THE DISABLED WITH RENTAL ASSISTANCE PROVIDED BY HUD BASED ON INCOME LEVEL.

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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 $42,995

Program Service Revenue $45,064

Investment Income $2

Other Revenue $4,573

TOTAL REVENUE $92,634

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $119,782

Other Expenses $131,762

TOTAL EXPENSES $131,762

Year-over-Year Comparison

	2024	2023	Change
Revenue	$92,634	$94,369	0.0%
Expenses	$131,762	$106,588	+0.2%
Net Income	$-39,128	$-12,219	+2.2%

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

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
MARIE FERRAN	SECRETARY/TREASURER	1.00	Officer Director	$0	$0	$0
MARVIN LUSK	DIRECTOR	1.00	Director	$0	$0	$0
HOLLY WILLIAMS	CHAIRPERSON	1.00	Officer 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	$92,634	$131,762	$572,601	$-39,128
2024	$94,369	$106,588	$603,885	$-12,219
2023	$73,171	$114,825	$632,648	$-41,654
2022	$58,675	$92,157	$659,236	$-33,482
2021	$60,827	$95,396	$689,051	$-34,569
2020	$70,307	$103,769	$722,064	$-33,462
2019	$74,624	$83,239	$757,310	$-8,615