WILMINGTON APARTMENT ASSOCIATION

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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

2019

Legal Domicile

Principal Officer

CHRISTINA REXROAD

Phone

9106208393

Tax Period

2023-01-01 to 2023-12-31

WILMINGTON APARTMENT ASSOCIATION, founded in 2019, is a small nonprofit in the Community Improvement sector that reported $301K in total revenue in fiscal year 2023. Revenue grew 19% year-over-year, indicating healthy expansion. Expenses of $261K left a modest 13% surplus.

Mission

TO PROMOTE THE GENERAL WELFARE OF THE RENTAL HOUSING INDUSTRY BY MAINTAINING PROFESSIONAL STANDARDS AND SOUND BUSINESS PRACTICES AMONG ITS MEMBERS FOR THE BEST INTEREST OF THE INDUSTRY & THOSE SERVED.

Program Service Accomplishments

Program 1

Expenses: $92,708 Revenue: $107,937

TO PROVIDE EVENTS WHERE INDUSTRY PROFESSIONALS CAN MEET EACH OTHER, EXCHANGE IDEAS, LEARN ABOUT NEW LEGISLATION, AND NEW PRODUCTS AND SERVICES AVAILABLE.

Program 2

Expenses: $50,527 Revenue: $19,854

TO PROVIDE EDUCATIONAL OPPORTUNITIES FOR PROPERTY MANAGEMENT PROFESSIONALS AND THEIR STAFF.

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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 $163,236

Program Service Revenue $101,678

Investment Income $1,554

Other Revenue $34,191

TOTAL REVENUE $300,659

Expense Breakdown

Grants Paid $0

Salaries & Benefits $63,252

Fundraising Expenses $0

Program Expenses $143,235

Other Expenses $197,560

TOTAL EXPENSES $260,812

Year-over-Year Comparison

	2023	2022	Change
Revenue	$300,659	$252,457	+0.2%
Expenses	$260,812	$272,437	0.0%
Net Income	$39,847	$-19,980	-3.0%

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

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
KAREN SPAID	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
DORIANE MURRAY	TREASURER	1.00	Officer Director	$0	$0	$0
HALEY PHILIP	SECRETARY	1.00	Officer Director	$0	$0	$0
APRIL GIRARD	BOARD MEMBER	1.00	Director	$0	$0	$0
AMY RITCHY	BOARD MEMBER	1.00	Director	$0	$0	$0
CHRIS LOEBSACK	BOARD MEMBER	1.00	Director	$0	$0	$0
SARAH SMITH	BOARD MEMBER	1.00	Director	$0	$0	$0
GRANT THELEN	BOARD MEMBER	1.00	Director	$0	$0	$0
KRYSTI KESER	PRESIDENT	1.00	Officer Director	$0	$0	$0
CAROL GREER	BOARD MEMBER	1.00	Director	$0	$0	$0
TODD SWANK	BOARD MEMBER	1.00	Director	$0	$0	$0
JOHN RIGGS	BOARD MEMBER	1.00	Director	$0	$0	$0
MECHELLE GIBBS	BOARD MEMBER	1.00	Director	$0	$0	$0
MIRANDA RUTHLEDGE	BOARD MEMBER	1.00	Director	$0	$0	$0
TODD WHITLOW	BOARD MEMBER	1.00	Director	$0	$0	$0
ELAINE JOLLY	BOARD MEMBER	1.00	Director	$0	$0	$0
SHARON WILSON	BOARD MEMBER	1.00	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
2024	No data	No data	No data	No data
2023	$300,659	$260,812	$169,669	$39,847
2022	$252,457	$272,437	$127,639	$-19,980
2021	$197,579	$161,166	$144,109	$36,413
2020	$221,946	$114,250	$107,696	$107,696