WILMINGTON APARTMENT ASSOCIATION (EIN 824404554) - 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

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

THE WAA IS SOUTHEASTERN NORTH CAROLINA'S BEST RESOURCE FOR THE MULTI-FAMILY INDUSTRY. WE PROVIDE TRAINING, NETWORKING OPPORTUNITIES, AND OTHER RESOURCES TO THE APARTMENT COMMUNITIES AND VENDORS. WE STRIVE TO OFFER THE BEST SUPPORT WE POSSIBLY CAN TO ALLOW THE INDUSTRY IN THE AREA TO GROW AND FLOURISH. THE WAA SERVES WILMINGTON, JACKSONVILLE, AND SOUTHEASTERN NORTH CAROLINA.

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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

WILMINGTON APARTMENT ASSOCIATION