INDEPENDENCE SQUARE 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

1983

Legal Domicile

Principal Officer

CAROL WHITE

Phone

2105310577

Tax Period

2024-07-01 to 2025-06-30

INDEPENDENCE SQUARE INC, founded in 1983, is a small nonprofit in the Human Services sector that reported $253K in total revenue in fiscal year 2024. Revenue grew 10% year-over-year, indicating healthy expansion. The organization ran a surplus of $66K, a strong 26% operating margin.

Mission

FORM 990 PART III, LINE 1 - ORGANIZATION'S MISSION THE CORPORATION IS A SUPERVISED APARTMENT PROGRAM FOR ADULTS WITH INTELLECTUAL AND OTHER DEVELOPMENTAL DISABILITIES WHO NEED MINIMAL SUPPORTS. THE GOAL OF THE PROGRAM IS TO PROVIDE SUPPORTIVE SERVICES TO ASSIST AND OPTIMIZE THE INDEPENDENCE AND PRODUCTIVITY OF THE ADULTS IN AN AFFORDABLE LIVING ARRANGEMENT.

Program Service Accomplishments

Program 1

Expenses: $167,043 Revenue: $251,133

PROVIDES AFFORDABLE HOUSING FOR ADULTS WITH DEVELOPMENTAL (INTELLECTUAL) DISABILITIES AND IS OPERATED UNDER SECTION 202 OF THE NATIONAL HOUSING ACT, REGULATED BY THE U.S. DEPARTMENT OF HOUSING AND...

PROVIDES AFFORDABLE HOUSING FOR ADULTS WITH DEVELOPMENTAL (INTELLECTUAL) DISABILITIES AND IS OPERATED UNDER SECTION 202 OF THE NATIONAL HOUSING ACT, REGULATED BY THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD) AND IS SUBJECT TO SECTION 8 HOUSING ASSISTANCE PAYMENTS AGREEMENTS WITH HUD. APPROXIMATELY 16 INDIVIDUALS WERE PROVIDED SERVICES DURING THE YEAR ENDED.

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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 $251,133

Investment Income $1,625

Other Revenue $0

TOTAL REVENUE $252,758

Expense Breakdown

Grants Paid $0

Salaries & Benefits $55,342

Fundraising Expenses $0

Program Expenses $167,043

Other Expenses $131,273

TOTAL EXPENSES $186,615

Year-over-Year Comparison

	2024	2023	Change
Revenue	$252,758	$229,775	+0.1%
Expenses	$186,615	$184,073	+0.0%
Net Income	$66,143	$45,702	+0.4%

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

$116,841

Total Directors

$264,687

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KNOX PITTS	PRESIDENT	0.50	Officer Director	$0	$0	$0
CAROL WHITE	SECRETARY	1.00	Officer Director	$0	$0	$116,841
LORA BUTLER	MEMBER	1.00	Director	$0	$0	$147,846
JAN HAMMER	MEMBER	0.50	Director	$0	$0	$0
BEVERLY BARSHOP	MEMBER	0.50	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	$252,758	$186,615	$323,479	$66,143
2024	$229,775	$184,073	$293,776	$45,702
2023	$234,412	$201,672	$286,880	$32,740
2022	$231,181	$215,979	$290,804	$15,202
2021	$202,327	$197,252	$298,325	$5,075
2020	$227,836	$176,150	$321,525	$51,686
2019	$213,910	$191,021	$295,288	$22,889
2018	$254,717	$177,258	$307,985	$77,459