THE PALMS RETIREMENT CENTER (EIN 742247344) - 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

1982

Legal Domicile

Principal Officer

MELVIN D JUSTICE

Phone

9564214331

Tax Period

2024-07-01 to 2025-06-30

THE PALMS RETIREMENT CENTER, founded in 1982, is a small nonprofit that reported $660K in total revenue in fiscal year 2024. Expenses of $623K left a modest 6% surplus.

Mission

THE PROJECT IS OPERATED AS AN APARTMENT COMPLEX OF 18 EFFICIENCY AND 45 ONE BEDROOM UNITS FOR ELDERLY OR DISABLED PERSONS WITH LOW INCOME.

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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 $377,952

Program Service Revenue $267,017

Investment Income $197

Other Revenue $14,967

TOTAL REVENUE $660,133

Expense Breakdown

Grants Paid $0

Salaries & Benefits $160,412

Fundraising Expenses $0

Program Expenses $529,928

Other Expenses $463,035

TOTAL EXPENSES $623,447

Year-over-Year Comparison

	2024	2023	Change
Revenue	$660,133	$647,580	+0.0%
Expenses	$623,447	$597,029	+0.0%
Net Income	$36,686	$50,551	-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

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

$53,895

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MELVIN D JUSTICE	PRESIDENT	0.00	Officer Director	$0	$0	$0
MIKE SULLIVAN	VICE PRESIDENT	0.00	Officer Director	$0	$0	$0
EDWARD H WHITTINGTON	SECRETARY	0.00	Officer Director	$0	$0	$0
DAN M HATFIELD	DIRECTOR	0.00	Director	$0	$0	$0
RACHEL HENDRIX	DIRECTOR	0.00	Director	$0	$0	$0
SYLVIA HEMBREE	DIRECTOR	0.00	Director	$0	$0	$0
TYLER JONES	DIRECTOR	0.00	Director	$0	$0	$0
EVARISTO MELGOZA	SITE MGR	40.00	Officer	$53,895	$0	$53,895

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	$660,133	$623,447	$1,027,714	$36,686
2024	$647,580	$597,029	$1,047,771	$50,551
2023	$619,200	$576,369	$1,051,397	$42,831
2022	$399,317	$579,013	$1,059,280	$-179,696
2021	$587,429	$589,711	$1,287,448	$-2,282
2020	$585,271	$575,681	$1,335,310	$9,590
2019	$577,947	$573,416	$1,369,689	$4,531
2018	$562,822	$562,964	$1,405,936	$-142

THE PALMS RETIREMENT CENTER