TROY APARTMENTS INC (EIN 830340920) - 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

2002

Legal Domicile

Principal Officer

RICHARD CONNIFF

Phone

4082918650

Tax Period

2024-01-01 to 2024-12-31

TROY APARTMENTS INC, founded in 2002, is a small nonprofit in the Housing & Shelter sector that reported $608K in total revenue in fiscal year 2024. Expenses of $772K exceeded revenue, resulting in a 27% operating deficit.

Mission

TO OWN, OPERATE, AND PROVIDE QUALITY, AFFORDABLE HOUSING FOR LOW AND MODERATE-INCOME HOUSEHOLDS.

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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 $0

Program Service Revenue $606,624

Investment Income $292

Other Revenue $1,278

TOTAL REVENUE $608,194

Expense Breakdown

Grants Paid $0

Salaries & Benefits $93,429

Fundraising Expenses $0

Program Expenses $716,193

Other Expenses $679,062

TOTAL EXPENSES $772,491

Year-over-Year Comparison

	2024	2023	Change
Revenue	$608,194	$572,381	+0.1%
Expenses	$772,491	$735,286	+0.1%
Net Income	$-164,297	$-162,905	+0.0%

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

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

$49,295

Total Directors

Key Employees

$633,864

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RICHARD L CONNIFF	CHAIRMAN/CEO	0.50	Officer Director	$0	$0	$0
RU WEERAKOON	VP/DIRECTOR	0.50	Officer Director	$0	$0	$0
DUNIA NOEL	SECRETARY/DIRECTOR	0.50	Officer Director	$0	$0	$0
ROBERT SHERRARD	TREASURER/DIRECTOR	0.50	Officer Director	$0	$0	$0
BILL ANDERSON	DIRECTOR	0.50	Director	$0	$0	$0
KERMIT CONLEY	DIRECTOR	0.50	Director	$0	$0	$0
JOSH CROSS	DIRECTOR	0.50	Director	$0	$0	$0
GERRY DEYOUNG	DIRECTOR	0.50	Director	$0	$0	$0
JEFFREY GEE	DIRECTOR	0.50	Director	$0	$0	$0
MATTHEW JAMES	DIRECTOR	0.50	Director	$0	$0	$0
SUSAN MUYSENBERG	DIRECTOR	0.50	Director	$0	$0	$0
PRESTON PRINCE	DIRECTOR	0.50	Director	$0	$0	$0
JOYCE RODGER	DIRECTOR	0.50	Director	$0	$0	$0
KATHIE LEE	INTERIM DIR. OF FINANCE (AS OF 02/24)	0.50	Officer	$0	$0	$0
DAVID MUNSON	DIRECTOR OF FINANCE (THRU 02/24)	0.50	Officer	$0	$7,173	$49,295
MICHAEL P SANTERO	NON-VOTING VP/COO	1.00	Key Emp	$0	$53,033	$367,739
BIANEY MARTINEZ	DIR. OF ASSET MANAGER (THRU 10/24)	1.00	Key Emp	$0	$44,726	$266,125
EDITH FIGUROA	COMMUNITY IMPACT PROGRAMS MNGR (THRU 12/24)	1.00	Highest	$0	$29,856	$140,690
CLAUDIA PINON	ASSET MANAGER	3.00	Highest	$0	$31,844	$150,811

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	$608,194	$772,491	$3,911,079	$-164,297
2023	$572,381	$735,286	$4,068,737	$-162,905
2022	$536,595	$702,269	$4,138,570	$-165,674
2021	$512,477	$682,238	$4,224,820	$-169,761
2020	$507,623	$641,090	$4,580,692	$-133,467
2019	$488,354	$603,336	$4,681,948	$-114,982
2018	$459,036	$503,773	$4,543,756	$-44,737

TROY APARTMENTS INC