THE PARTNERSHIP INC (EIN 650522900) - 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

1994

Legal Domicile

Principal Officer

JOHN CORBETT

Phone

5616556775

Tax Period

2024-01-01 to 2024-12-31

THE PARTNERSHIP INC, founded in 1994, is a mid-sized nonprofit in the Housing & Shelter sector that reported $12.5M in total revenue in fiscal year 2024. Revenue decreased 7% compared to the prior year. Expenses of $36.9M exceeded revenue, resulting in a 195% operating deficit.

Mission

MANAGEMENT & DEVELOPMENT OF LOW-INCOME HOUSING -- OFFICE SPACE FOR NON-PROFIT ORGANIZATIONS -- SOCIAL SERVICES IN MANAGED HOUSING.

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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 $251,041

Program Service Revenue $9,005,024

Investment Income $3,261,073

Other Revenue $0

TOTAL REVENUE $12,517,138

Expense Breakdown

Grants Paid $27,741,712

Salaries & Benefits $8,298,837

Fundraising Expenses $0

Program Expenses $35,605,240

Other Expenses $846,673

TOTAL EXPENSES $36,887,222

Year-over-Year Comparison

	2024	2023	Change
Revenue	$12,517,138	$13,504,017	-0.1%
Expenses	$36,887,222	$10,050,767	+2.7%
Net Income	$-24,370,084	$3,453,250	-8.1%

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

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

$1,528,542

Total Directors

$717,364

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RICHARD GEACH	BOARD MEMBER	0.50	Director	$0	$0	$0
MICHAEL F LAPORTA	BOARD MEMBER	0.50	Director	$0	$0	$0
JOHN CORBETT	EXECUTIVE DIRECTOR/CEO	40.00	Officer Director	$717,364	$0	$717,364
HUGH JACOBS	EVP/COO	40.00	Officer	$347,113	$37,501	$384,614
JAMIE WILLIAMSON	VICE PRESIDENT	40.00	Officer	$137,064	$8,744	$145,808
EROL UGLJANIN	VICE PRESIDENT	40.00	Officer	$248,474	$32,282	$280,756
DARLESA JONES-BROWN	REGIONAL PROPERTY DIRECTOR	40.00	Highest	$114,823	$11,344	$126,167

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
2024	$12,517,138	$36,887,222	$24,613,395	$-24,370,084
2023	$13,504,017	$10,050,767	$48,203,272	$3,453,250
2022	$9,639,704	$8,989,964	$41,969,996	$649,740
2021	$32,029,188	$5,407,212	$43,921,488	$26,621,976
2021	$35,205,186	$8,583,210	$43,921,488	$26,621,976
2020	$9,613,815	$6,853,390	$28,486,738	$2,760,425
2020	$9,613,815	$6,853,390	$28,486,738	$2,760,425
2019	$8,910,912	$7,708,823	$25,499,987	$1,202,089
2018	$6,556,920	$6,580,156	$23,491,366	$-23,236

THE PARTNERSHIP INC