HEREFORD APARTMENTS

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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

1989

Legal Domicile

Principal Officer

DR MICHAEL PASSMORE

Phone

2103419133

Tax Period

2024-05-01 to 2025-04-30

HEREFORD APARTMENTS, founded in 1989, is a small nonprofit that reported $458K in total revenue in fiscal year 2024. Expenses of $390K left a modest 15% surplus.

Mission

PROVIDE AFFORDABLE HOUSING FOR ELDERLY AND HANDICAPPED PERSONS UNDER THE HUD SECTION 202 PROGRAM.

Program Service Accomplishments

Program 1

Expenses: $352,291 Revenue: $448,845

PROVIDE AFFORDABLE HOUSING FOR ELDERLY AND HANDICAPPED PERSONS UNDER THE HUD SECTION 202 PROGRAM.

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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 $448,845

Investment Income $9,626

Other Revenue $0

TOTAL REVENUE $458,471

Expense Breakdown

Grants Paid $0

Salaries & Benefits $102,091

Fundraising Expenses $0

Program Expenses $352,291

Other Expenses $288,268

TOTAL EXPENSES $390,359

Year-over-Year Comparison

	2024	2023	Change
Revenue	$458,471	$451,160	+0.0%
Expenses	$390,359	$373,958	+0.0%
Net Income	$68,112	$77,202	-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
DR MICHAEL PASSMORE	PRESIDENT	N/A	Officer	$0	$0	$0
JESSE SANDOZ	VICE PRESIDE	N/A	Officer	$0	$0	$0
LILLIE RENDON-SEQOVIA	SECRETARY	N/A	Officer	$0	$0	$0
GABRIEL SANCHEZ	TREASURER	N/A	Officer	$0	$0	$0
CECIL LARA	DIRECTOR	N/A	Director	$0	$0	$0
RUTH ESTRADA	DIRECTOR	N/A	Director	$0	$0	$0
PAT GARLAND	DIRECTOR	N/A	Director	$0	$0	$0
DR LYNDA CAVAZOS	DIRECTOR	N/A	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	$458,471	$390,359	$869,809	$68,112
2024	$451,160	$373,958	$858,064	$77,202
2023	$423,940	$355,138	$850,064	$68,802
2022	$417,732	$361,068	$839,231	$56,664
2021	$395,045	$349,510	$842,782	$45,535