GORMAN TOWERS 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

1980

Legal Domicile

Principal Officer

BILL HUTCHINSON

Phone

4797827268

Tax Period

2024-09-01 to 2025-08-31

GORMAN TOWERS INC, founded in 1980, is a community nonprofit in the Housing & Shelter sector that reported $2.2M in total revenue in fiscal year 2024. The organization ran a surplus of $420K, a strong 19% operating margin.

Mission

NON PROFIT HOUSING FOR THE ELDERLY AND THE HANDICAPPED

Program Service Accomplishments

Program 1

Expenses: $1,010,569 Revenue: $744,320

GORMAN TOWERS, INC. OPERATES ON A NON-PROFIT BASIS AND PROVIDES HOUSING FOR THE ELDERLY AND HANDICAPPED. GORMAN TOWERS, INC. CONSISTS OF 150 UNITS (APARTMENTS) AND IS REGULATED BY THE US DEPT OF...

GORMAN TOWERS, INC. OPERATES ON A NON-PROFIT BASIS AND PROVIDES HOUSING FOR THE ELDERLY AND HANDICAPPED. GORMAN TOWERS, INC. CONSISTS OF 150 UNITS (APARTMENTS) AND IS REGULATED BY THE US DEPT OF HOUSING AND URBAN DEVELOPMENT

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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 $1,504,972

Program Service Revenue $743,611

Investment Income $709

Other Revenue $0

TOTAL REVENUE $2,249,292

Expense Breakdown

Grants Paid $0

Salaries & Benefits $467,574

Fundraising Expenses $0

Program Expenses $1,010,569

Other Expenses $1,361,970

TOTAL EXPENSES $1,829,544

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,249,292	$2,132,750	+0.1%
Expenses	$1,829,544	$1,817,877	+0.0%
Net Income	$419,748	$314,873	+0.3%

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	Role	Reportable Comp	Other Comp	Total
BILL HUTCHINSON	BOARD PRESIDENT	Officer Director	$0	$0	$0
JEFF FENWICK	BOD MEMBER	Director	$0	$0	$0
AUDRA BAILEY	BOD MEMBER	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	$2,249,292	$1,829,544	$3,812,223	$419,748
2023	$2,077,309	$1,852,832	$3,597,272	$224,477
2022	$2,069,509	$1,729,277	$3,620,907	$340,232
2021	$2,108,818	$1,713,961	$3,551,810	$394,857
2020	$1,960,493	$1,660,084	$3,287,976	$300,409
2019	$1,988,735	$1,745,410	$2,955,998	$243,325