FAIR HAVEN WEST INC C/O DARWIN T LYNNER CO INC (EIN 770630779) - 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

2006

Legal Domicile

Principal Officer

JERRY ELLIS

Phone

5152438300

Tax Period

2023-01-01 to 2023-12-31

FAIR HAVEN WEST INC C/O DARWIN T LYNNER CO INC, founded in 2006, is a small nonprofit in the Housing & Shelter sector that reported $163K in total revenue in fiscal year 2023. Revenue grew 16% year-over-year, indicating healthy expansion. Expenses of $204K exceeded revenue, resulting in a 26% operating deficit.

Mission

FAIR HAVEN WEST APARTMENTS, INC. IS AN IOWA NOT-FOR-PROFIT CORPORATION THAT WAS ORGANIZED TO CONSTRUCT, OWN AND OPERATE A 29 UNIT APARTMENT COMMUNITY KNOWN AS FAIR HAVEN WEST APARTMENTS LOCATED IN DES MOINES, IOWA. THE COMMUNITY IS BEING FINANCED WITH CAPITAL ADVANCES INSURED BY THE DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT UNDER SECTION 202 OF THE NATIONAL HOUSING ACT, AS AMENDED.

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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 (2023)

Revenue Breakdown

Contributions & Grants $22,991

Program Service Revenue $108,931

Investment Income $2,559

Other Revenue $28,193

TOTAL REVENUE $162,674

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $169,110

Other Expenses $204,221

TOTAL EXPENSES $204,221

Year-over-Year Comparison

	2023	2022	Change
Revenue	$162,674	$140,429	+0.2%
Expenses	$204,221	$212,513	0.0%
Net Income	$-41,547	$-72,084	-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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JERRY ELLIS	PRESIDENT	0.50	Officer Director	$0	$0	$0
DALE DE WILD	VICE PRESIDENT	0.50	Officer Director	$0	$0	$0
MARY GLENDENING	SECRETARY	0.50	Officer Director	$0	$0	$0
ROBERT VAN DYKE	TREASURER	5.00	Officer Director	$0	$0	$0
ELINOR BOGAARD	DIRECTOR	0.50	Director	$0	$0	$0
KAY DE COOK	DIRECTOR	0.50	Director	$0	$0	$0
IVAN MULDER	DIRECTOR	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
2024	No data	No data	No data	No data
2023	$162,674	$204,221	$1,772,093	$-41,547
2022	$140,429	$212,513	$1,865,334	$-72,084
2021	$152,459	$197,367	$1,897,762	$-44,908
2020	$158,782	$195,049	$1,933,895	$-36,267
2019	$153,482	$198,308	$1,969,104	$-44,826
2018	$139,996	$213,126	$2,017,872	$-73,130

FAIR HAVEN WEST INC C/O DARWIN T LYNNER CO INC