URBAN PROGRESS CORPORATION

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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

1964

Legal Domicile

Principal Officer

Monique Chavoya

Phone

2108214300

Tax Period

2021-01-01 to 2021-12-31

URBAN PROGRESS CORPORATION, founded in 1964, is a micro nonprofit in the Housing & Shelter sector that reported $236 in total revenue in fiscal year 2021. Revenue fell 98% from the prior year — a significant decline worth monitoring. Expenses of $153K exceeded revenue, resulting in a 64689% operating deficit.

Mission

AS A NONPROFIT CORPORATION, PROVIDE AFFORDABLE HOUSING FOR VERY LOW-INCOME, LOW-INCOME, AND MODERATE-INCOME FAMILIES, CREATE A SENSE OF COMMUNITY AMONG THE RESIDENTS, AND MAKE ITS HOUSING AN EXAMPLE OF EXCELLENCE FOR THE LARGER COMMUNITY. THE ORGANIZATION ALSO STRIVES TO ENHANCE THE CREATION OF NEW HOUSING AND THE REHABILITATION OF EXISTING HOUSING IN NEIGHBORHOODS, WITH A SPECIAL EMPHASIS PLACED ON CREATING RENTAL HOUSING FOR LOW-INCOME AND MODERATE-INCOME NEIGHBORHOODS.

Program Service Accomplishments

Program 1

Expenses: $119,179

THE ORGANIZATION CONTINUED AS THE SOLE MEMBER OF TX LAS PALMAS GARDENS DEVELOPMENT, LLC, WHICH IS THE 99% GENERAL PARTNER IN TX LAS PALMAS GARDENS HOUSING, LP OPERATING AS LAS PALMAS GARDENS...

THE ORGANIZATION CONTINUED AS THE SOLE MEMBER OF TX LAS PALMAS GARDENS DEVELOPMENT, LLC, WHICH IS THE 99% GENERAL PARTNER IN TX LAS PALMAS GARDENS HOUSING, LP OPERATING AS LAS PALMAS GARDENS APARTMENTS (THE PROJECT) IN SAN ANTONIO, TEXAS. THE PROJECT PROVIDED 100 AFFORDABLE HOUSING UNITS TO VERY LOW-INCOME, LOW-INCOME, AND MODERATE-INCOME FAMILIES. THROUGH ITS OVERSIGHT OF THE PROJECT, THE ORGANIZATION CONTINUED TO PRESERVE THE PROJECT AS LOW-INCOME HOUSING BY MAINTAINING PROPERTY OPERATIONS IN COMPLIANCE WITH THE REGULATIONS OF THE U. S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD). THE ORGANIZATION MAINTAINED THE HUD PROPERTY BASED SECTION 8 HOUSING ASSISTANCE PAYMENT (HAP) RENTAL ASSISTANCE CONTRACT ON 41 UNITS. THROUGH THE PROJECT, THE ORGANIZATION HAD PREVIOUSLY RECEIVED FUNDING FOR PROPERTY ACQUISITION AND REHABILITATION FROM THE TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS (TDHCA) AS PART OF A TAX CREDIT EXCHANGE PROGRAM. THE ORGANIZATION MAINTAINED PROPERTY OPERATIONS IN COMPLIANCE WITH THE REGULATIONS OF THE TDHCA. TO ENSURE THE DEDUCTIBILITY OF TAX CREDITS TO INVESTORS AS GOVERNED BY THE INTERNAL REVENUE SERVICE, MAINTAINED COMPLIANCE WITH INTERNAL REVENUE CODE SECTION 42. THE FOLLOWING TAX EXEMPTIONS CONTINUED TO BE RECEIVED BY THE ORGANIZATION: INTERNAL REVENUE SERVICE 501(C)(3) INCOME TAX EXEMPTION. BEXAR COUNTY, TEXAS, APPRAISAL DISTRICT 100% PROPERTY TAX EXEMPTION. STATE OF TEXAS FRANCHISE TAX EXEMPTION. STATE OF TEXAS SALES TAX EXEMPTION. BEXAR COUNTY, TEXAS, APPRAISAL DISTRICT 50% PROPERTY TAX EXEMPTION FOR THE PROJECT. THROUGH ITS OVERSIGHT OF THE PROJECT, THE ORGANIZATION CONTINUED TO PROVIDE PROGRAMS, ACTIVITIES, AND SERVICES FOR THE YOUTH AND ADULT RESIDENTS.

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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 (2021)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $0

Investment Income $236

Other Revenue $0

TOTAL REVENUE $236

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $119,179

Other Expenses $152,902

TOTAL EXPENSES $152,902

Year-over-Year Comparison

	2021	2020	Change
Revenue	$236	$9,621	-1.0%
Expenses	$152,902	$119,406	+0.3%
Net Income	$-152,666	$-109,785	+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

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
MICHAEL A GARCIA	Director	0.5	Director	$0	$0	$0
VALDEMAR PEREZ	vice president	1.0	Officer Director	$0	$0	$0
ROSARIO MARTY	DIRECTOR	0.5	Director	$0	$0	$0
SONIA POYO	secretary	1.0	Officer Director	$0	$0	$0
MONIQUE CHAVOYA	president	2.0	Officer Director	$0	$0	$0
Marisa Y Garza	Director	0.5	Director	$0	$0	$0
Richard Lopez	Director	0.5	Director	$0	$0	$0
Guadalupe Cardenas	Alternate Director	0.5	Director	$0	$0	$0
GILBERT M PIETTE	MGT AGENT CEO-SEE SCH O	0.1	Officer	$0	$0	$0
James Butcher	Mgt Agent SVPFA - See Sch O	0.1	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
2021	$236	$152,902	$5,888,090	$-152,666
2020	$9,621	$119,406	$6,040,756	$-109,785
2019	$4,626	$243,603	$6,142,806	$-238,977
2018	$5,724	$50,042	$6,381,739	$-44,318