MIDPEN RESIDENT SERVICES CORPORATI… - 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

2000

Legal Domicile

Principal Officer

MATTHEW O FRANKLIN

Phone

6503562900

Tax Period

2024-01-01 to 2024-12-31

MIDPEN RESIDENT SERVICES CORPORATION, founded in 2000, is a mid-sized nonprofit in the Housing & Shelter sector that reported $14.0M in total revenue in fiscal year 2024. Revenue grew 14% year-over-year, indicating healthy expansion.

Mission

IN CONJUNCTION WITH RELATED ORGANIZATIONS, MIDPEN RESIDENT SERVICES CORPORATION'S MISSION IS TO PROVIDE SAFE, AFFORDABLE HOUSING OF HIGH QUALITY TO THOSE IN NEED; TO ESTABLISH STABILITY AND OPPORTUNITY IN THE LIVES OF RESIDENTS; AND TO FOSTER DIVERSE COMMUNITIES THAT ALLOW PEOPLE FROM ALL ETHNIC, SOCIAL AND ECONOMIC BACKGROUNDS TO LIVE IN DIGNITY, HARMONY AND MUTUAL RESPECT.

Program Service Accomplishments

Program 1

Expenses: $12,360,067 Revenue: $13,373,390

MIDPEN RESIDENT SERVICES CORPORATION PROVIDES DISCRETE SOCIAL PROGRAMS AND PROMOTES INCREASED ACADEMIC PERFORMANCE FOR SCHOOL-AGE YOUTH, VOCATIONAL DEVELOPMENT AND EMPLOYMENT SUPPORT FOR WORKING-AGE ADULTS, AGE-IN-PLACE HEALTH CARE SUPPORT FOR SENIORS AND ADDITIONAL SUPPORT FOR RESIDENTS WHO HAVE MENTAL HEALTH, SUBSTANCE ABUSE, OR PHYSICAL HEALTH CHALLENGES.

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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 $407,980

Program Service Revenue $13,373,390

Investment Income $187,391

Other Revenue $0

TOTAL REVENUE $13,968,761

Expense Breakdown

Grants Paid $900,000

Salaries & Benefits $9,914,998

Fundraising Expenses $0

Program Expenses $12,360,067

Other Expenses $4,103,465

TOTAL EXPENSES $14,918,463

Year-over-Year Comparison

	2024	2023	Change
Revenue	$13,968,761	$12,242,957	+0.1%
Expenses	$14,918,463	$13,029,273	+0.1%
Net Income	$-949,702	$-786,316	+0.2%

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

$3,571,873

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ERIC HARRISON	CHAIRPERSON	0.30	Officer Director	$0	$0	$0
JESSICA GARCIA-KOHL	VICE CHAIRPERSON	0.30	Officer Director	$0	$0	$0
ENRIQUE TORRES	TREASURER	0.30	Officer Director	$0	$0	$0
JENNIFER MARTINEZ	SECRETARY	0.30	Officer Director	$0	$0	$0
TERRY FREEMAN	DIRECTOR	0.30	Director	$0	$0	$0
RENEE MCDONNELL	DIRECTOR	0.30	Director	$0	$0	$0
MELANIE MOCK	DIRECTOR	0.30	Director	$0	$0	$0
ELISA DE LAET JAGERSON	DIRECTOR	0.30	Director	$0	$0	$0
JENNIFER HICKS	DIRECTOR	0.30	Director	$0	$0	$0
FAY SIEN GOON	DIRECTOR	0.30	Director	$0	$0	$0
CHAN U LEE	DIRECTOR	0.30	Director	$0	$0	$0
STEPHANIE SONNENSHINE	DIRECTOR	0.30	Director	$0	$0	$0
YUSEF FREEMAN	DIRECTOR	0.30	Director	$0	$0	$0
JONATHAN FEARN	DIRECTOR	0.30	Director	$0	$0	$0
MATTHEW O FRANKLIN	CEO/PRESIDENT/ASST. SECRET	7.50	Officer	$0	$72,431	$716,168
MICHAEL J VERGURA	CFO / ASSISTANT SECRETARY	7.50	Officer	$0	$77,467	$550,709
JANINE LIND	COO / ASSISTANT SECRETARY	7.50	Officer	$0	$9,883	$308,244
ANN GOGGINS GREGORY	COO / ASSISTANT SECRETARY	7.50	Officer	$0	$37,560	$381,003
LANCE SMITH	VP/CORPORATE COUNSEL & BROKER/ ASST. SECRETARY	5.00	Officer	$0	$64,680	$375,051
ABIGAIL GOLDWARE POTLURI	ASSISTANT SECRETARY	0.10	Officer	$0	$56,916	$386,944
KASEY ARCHEY	ASSISTANT SECRETARY	0.10	Officer	$0	$25,464	$457,923
JOANNA L CARMAN	ASSISTANT SECRETARY	0.00	Officer	$0	$46,342	$395,831

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	$13,968,761	$14,918,463	$11,563,698	$-949,702
2023	$12,242,957	$13,029,273	$12,899,653	$-786,316
2022	$20,548,249	$10,941,083	$13,540,749	$9,607,166
2021	$11,407,168	$9,677,951	$3,702,334	$1,729,217
2020	$9,317,578	$8,782,682	$3,098,347	$534,896
2019	$8,116,370	$8,087,550	$1,109,998	$28,820
2018	$7,295,075	$7,346,252	$1,096,208	$-51,177

MIDPEN RESIDENT SERVICES CORPORATION