TRI-CITIES TERRACE I C/O GOODALE &… - Form 990 Financial Data

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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

2001

Legal Domicile

Principal Officer

W RICHARD BARCHET

Phone

5094596100

Tax Period

2023-07-01 to 2024-06-30

TRI-CITIES TERRACE I C/O GOODALE & BARBIERI COMPANY, founded in 2001, is a small nonprofit in the Housing & Shelter sector that reported $380K in total revenue in fiscal year 2023. Revenue fell 60% from the prior year — a significant decline worth monitoring. Expenses of $500K exceeded revenue, resulting in a 32% operating deficit.

Mission

PROVIDE AFFORDABLE HOUSING TO LOW INCOME ELDERLY RESIDENTS.

Program Service Accomplishments

Program 1

Expenses: $499,706 Revenue: $329,200

OPERATION OF A 60 UNIT HOUSING DEVELOPMENT FOR LOW INCOME ELDERLY THAT HAS BEEN DESIGNED TO MEET THEIR PHYSICAL, SOCIAL AND PSYCHOLOGICAL NEEDS TO HELP PROMOTE HEALTH, SECURITY AND HAPPINESS ENABLING...

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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 $45,845

Program Service Revenue $329,200

Investment Income $4,888

Other Revenue $0

TOTAL REVENUE $379,933

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $499,706

Other Expenses $499,706

TOTAL EXPENSES $499,706

Year-over-Year Comparison

	2023	2022	Change
Revenue	$379,933	$940,705	-0.6%
Expenses	$499,706	$491,249	+0.0%
Net Income	$-119,773	$449,456	-1.3%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MIKE O'NEILL	DIRECTOR	1.00	Director	$0	$0	$0
MAUREEN RITTER	DIRECTOR	1.00	Director	$0	$0	$0
MARK UNDERWOOD	DIRECTOR	1.00	Director	$0	$0	$0
RICH BARCHET	PRESIDENT	2.00	Officer	$0	$0	$0
AL HAFFNER	TREASUER	1.00	Officer	$0	$0	$0
GERRY RITTER	SECRETARY	1.00	Officer	$0	$0	$0
ROB BARR	VICE PRESIDENT	1.00	Officer	$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
2025	No data	No data	No data	No data
2024	$379,933	$499,706	$2,967,575	$-119,773
2023	$940,705	$491,249	$3,148,489	$449,456
2022	$281,179	$414,572	$2,621,219	$-133,393
2021	$273,287	$401,207	$2,751,414	$-127,920
2020	$275,485	$379,666	$2,881,741	$-104,181
2019	$263,249	$371,210	$2,985,472	$-107,961

TRI-CITIES TERRACE I C/O GOODALE & BARBIERI COMPANY