MAIN STREET APARTMENTS INC

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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

1997

Legal Domicile

Principal Officer

KARIM SULTAN

Phone

4152581800

Tax Period

2024-04-01 to 2025-03-31

MAIN STREET APARTMENTS INC, founded in 1997, is a small nonprofit in the Housing & Shelter sector that reported $369K in total revenue in fiscal year 2024. Expenses of $475K exceeded revenue, resulting in a 29% operating deficit.

Mission

TO PROVIDE LOW-INCOME HOUSING

Program Service Accomplishments

Program 1

Expenses: $430,587 Revenue: $125,286

THE CORPORATION OPERATES A 24 UNIT APARTMENT BUILDING IN OAKLEY, CALIFORNIA UNDER SECTION 811 OF THE NATIONAL HOUSING ACT. THIS PROJECT IS REGULATED BY HUD AS TO RENT CHARGES AND OPERATING METHODS.

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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 $243,486

Program Service Revenue $125,286

Investment Income $230

Other Revenue $0

TOTAL REVENUE $369,002

Expense Breakdown

Grants Paid $0

Salaries & Benefits $133,461

Fundraising Expenses $0

Program Expenses $430,587

Other Expenses $341,408

TOTAL EXPENSES $474,869

Year-over-Year Comparison

	2024	2023	Change
Revenue	$369,002	$357,319	+0.0%
Expenses	$474,869	$522,938	-0.1%
Net Income	$-105,867	$-165,619	-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

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

$1,277,827

Total Directors

$1,499,556

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KARIM SULTAN	PRESIDENT	0.10	Officer Director	$0	$21,168	$249,782
VINCE HAGHIRI	DIRECTOR	0.10	Director	$0	$25,848	$221,729
KATHERINE FLEMING	VICE PRESIDENT	0.10	Officer Director	$0	$46,063	$354,633
LAURA HALL	SECRETARY/TREASURER	0.10	Officer Director	$0	$47,351	$673,412
VERNA CAUSBY-SMITH	FORMER PRESDNT	0.10		$0	$14,176	$135,192

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
2025	$369,002	$474,869	$1,548,026	$-105,867
2024	$357,319	$522,938	$1,607,019	$-165,619
2023	$355,762	$425,512	$1,735,965	$-69,750
2022	$296,812	$459,800	$1,803,872	$-162,988
2021	$416,976	$397,180	$1,928,596	$19,796
2020	$255,483	$391,312	$1,969,678	$-135,829
2019	$256,814	$363,887	$1,996,218	$-107,073