WILLOW STREET APARTMENTS

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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

1996

Legal Domicile

Principal Officer

SHELLY MARQUEZ

Phone

3038303300

Tax Period

2023-01-01 to 2023-12-31

WILLOW STREET APARTMENTS, founded in 1996, is a small nonprofit in the Housing & Shelter sector that reported $144K in total revenue in fiscal year 2023. Expenses of $166K exceeded revenue, resulting in a 15% operating deficit.

Mission

OWN AND OPERATE 12-UNIT APARTMENT PROJECT KNOWN AS THE WILLOWS, LOCATED IN DENVER, COLORADO, PROVIDING HOUSING TO LOW-INCOME PERSONS

Program Service Accomplishments

Program 1

Expenses: $154,741 Revenue: $49,146

WILLOW STREET APARTMENTS WAS ORGANIZED ON FEBRUARY 26, 1996 AS A COLORADO NONSTOCK, NONPROFIT CORPORATION FOR THE PURPOSE OF CONSTRUCTING AND OPERATING A RENTAL HOUSING PROJECT UNDER SECTION 811 OF THE NATIONAL HOUISING ACT. SUCH PROJECTS ARE REGULATED BY HUD AS TO RENT CHARGES AND OPERATING METHODS. THE PROJECT CONSISTS OF 13 UNITS LOCATED IN DENVER, COLORADO AND IS CURRENTLY OPERATING UNDER THE NAME OF WILLOW STREET APARTMENTS.

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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 $94,385

Program Service Revenue $49,005

Investment Income $127

Other Revenue $141

TOTAL REVENUE $143,658

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $154,741

Other Expenses $165,792

TOTAL EXPENSES $165,792

Year-over-Year Comparison

	2023	2022	Change
Revenue	$143,658	$137,344	+0.0%
Expenses	$165,792	$185,272	-0.1%
Net Income	$-22,134	$-47,928	-0.5%

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

N/A

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

$1,703,407

Total Directors

$741,341

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KASSIDI BOENING	VICE PRESIDENT/DIRECTOR	1.00	Officer Director	$0	$28,632	$172,676
MELISSA CLAYTON	VICE PRESIDENT/DIRECTOR	1.00	Officer Director	$0	$33,798	$299,519
SHELLY MARQUEZ	PRESIDENT/DIRECTOR	1.00	Officer Director	$0	$25,413	$269,146
CHAD PAYNE	TREASURER	1.00	Officer	$0	$8,496	$200,685
JOE ROSENBLUM	SECRETARY	1.00	Officer	$0	$10,201	$232,549
ELLEN ABRAMS	VICE PRESIDENT	1.00	Officer	$0	$22,735	$118,750
JOANNA CROSBY	VICE PRESIDENT	1.00	Officer	$0	$9,802	$124,515
KUHL BROWN	VICE PRESIDENT	1.00	Officer	$0	$34,402	$187,264
BRUCE SAAB	VICE PRESIDENT (UNTIL 10/23)	1.00	Officer	$0	$13,324	$98,303

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	$143,658	$165,792	$384,172	$-22,134
2022	$137,344	$185,272	$404,621	$-47,928
2021	$128,403	$155,072	$448,880	$-26,669
2020	$124,242	$152,819	$467,860	$-28,577
2019	$132,373	$160,605	$506,180	$-28,232
2018	$135,194	$152,279	$528,899	$-17,085