PASSMAN PLAZA II INC (EIN 721326307) - 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

1996

Legal Domicile

Principal Officer

JANET S DURDEN

Phone

3183881500

Tax Period

2024-07-01 to 2025-06-30

PASSMAN PLAZA II INC, founded in 1996, is a small nonprofit in the Housing & Shelter sector that reported $213K in total revenue in fiscal year 2024. Revenue surged 20% from the prior year, signaling strong growth momentum. Expenses of $284K exceeded revenue, resulting in a 33% operating deficit.

Mission

THIS ORGANIZATION OPERATES 39 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 $211,249

Investment Income $1,888

Other Revenue $0

TOTAL REVENUE $213,137

Expense Breakdown

Grants Paid $0

Salaries & Benefits $73,460

Fundraising Expenses $0

Program Expenses $247,464

Other Expenses $210,053

TOTAL EXPENSES $283,513

Year-over-Year Comparison

	2024	2023	Change
Revenue	$213,137	$177,276	+0.2%
Expenses	$283,513	$270,196	+0.0%
Net Income	$-70,376	$-92,920	-0.2%

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
ASHLEY DOUGHTY ABLE	BOARD MEMBER	N/A	Director	$0	$0	$0
PASTOR MONTRLL 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 HINCHCLIFFE	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	$213,137	$283,513	$1,292,201	$-70,376
2024	$177,276	$270,196	$1,403,899	$-92,920
2023	$146,237	$228,684	$1,509,521	$-82,447
2022	$147,712	$223,296	$1,548,476	$-75,584
2021	$143,160	$185,215	$1,586,406	$-42,055
2020	$145,908	$184,287	$1,608,674	$-38,379
2019	$147,548	$222,103	$1,634,653	$-74,555

PASSMAN PLAZA II INC