PASSMAN PLAZA INC (EIN 721291568) - 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

LORETTA HUDSON

Phone

3183881500

Tax Period

2024-07-01 to 2025-06-30

PASSMAN PLAZA INC, founded in 1994, is a small nonprofit in the Housing & Shelter sector that reported $238K in total revenue in fiscal year 2024. Expenses of $299K exceeded revenue, resulting in a 26% operating deficit.

Mission

THE ORGANIZATION OPERATES 40 UNITS OF GOVERNMENT ASSISTED HOUSING FOR THE ELDERLY AND HANDICAPPED IN CARRYING OUT ITS EXEMPT PURPOSE.

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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 $0

Program Service Revenue $234,790

Investment Income $3,583

Other Revenue $0

TOTAL REVENUE $238,373

Expense Breakdown

Grants Paid $0

Salaries & Benefits $81,126

Fundraising Expenses $0

Program Expenses $272,818

Other Expenses $218,320

TOTAL EXPENSES $299,446

Year-over-Year Comparison

	2024	2023	Change
Revenue	$238,373	$222,010	+0.1%
Expenses	$299,446	$275,263	+0.1%
Net Income	$-61,073	$-53,253	+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

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
ASHLEY DOUGHTY ABLE	BOARD MEMBER	N/A	Director	$0	$0	$0
PASTOR MONTRELL BRADLEY	BOARD MEMBER	N/A	Director	$0	$0	$0
JOE FARR	BOARD MEMBER	N/A	Director	$0	$0	$0
MYRA GATLING	BOARD MEMBER	N/A	Director	$0	$0	$0
PATRICIA GIX	BOARD MEMBER	N/A	Director	$0	$0	$0
HAL HINCHLIFFE	BOARD MEMBER	N/A	Director	$0	$0	$0
GLADYS SMITH-COWARD	BOARD MEMBER	N/A	Director	$0	$0	$0
BRANDON WELCH	BOARD MEMBER	N/A	Director	$0	$0	$0
JANET S DURDEN	VICE PRESIDE	N/A	Officer	$0	$0	$0
CHERYL FARMER	SECRETARY-TR	N/A	Officer	$0	$0	$0
LORETTA HUDSON	PRESIDENT	N/A	Officer	$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	$238,373	$299,446	$1,234,405	$-61,073
2024	$222,010	$275,263	$1,308,470	$-53,253
2023	$196,977	$238,081	$1,536,337	$-41,104
2022	$166,879	$219,780	$1,503,862	$-52,901
2021	$137,568	$191,986	$1,536,489	$-54,418
2020	$145,023	$203,047	$1,520,538	$-58,024
2019	$149,196	$208,186	$1,558,867	$-58,990

PASSMAN PLAZA INC