Independent Housing Advocates Inc Regal Village Apartments (EIN 742731735) - 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

Chip Fulghum

Phone

2102201908

Tax Period

2024-02-01 to 2025-01-31

Independent Housing Advocates Inc Regal Village Apartments, founded in 1994, is a small nonprofit in the Human Services sector that reported $258K in total revenue in fiscal year 2024. Expenses of $303K exceeded revenue, resulting in a 18% operating deficit.

Mission

To provide low income housing to those individuals who are physically or mentally disabled who need public housing assistance, as required by U.S. Department of Housing and Urban Development.

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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 $193,505

Program Service Revenue $63,042

Investment Income $161

Other Revenue $1,159

TOTAL REVENUE $257,867

Expense Breakdown

Grants Paid $0

Salaries & Benefits $67,880

Fundraising Expenses $0

Program Expenses $269,415

Other Expenses $235,174

TOTAL EXPENSES $303,054

Year-over-Year Comparison

	2024	2023	Change
Revenue	$257,867	$245,028	+0.1%
Expenses	$303,054	$267,900	+0.1%
Net Income	$-45,187	$-22,872	+1.0%

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
Bill Glen	Director	001.00	Director	$0	$0	$0
Steve Lefever	Treasurer	001.00	Director	$0	$0	$0
Mike Lozito	Director	001.00	Director	$0	$0	$0
Chip Fulghum	President	001.00	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	$257,867	$303,054	$609,681	$-45,187
2024	$245,028	$267,900	$651,722	$-22,872
2023	$297,036	$305,347	$698,016	$-8,311
2022	$223,033	$260,129	$681,509	$-37,096
2021	$199,003	$253,594	$724,738	$-54,591
2020	$199,782	$220,540	$767,728	$-20,758
2019	$186,335	$199,256	$780,351	$-12,921

Independent Housing Advocates Inc Regal Village Apartments