MIDPEN PROPERTY MANAGEMENT CORP (EIN 941738105) - 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

1970

Legal Domicile

Principal Officer

MATTHEW O FRANKLIN

Phone

6503562900

Tax Period

2024-01-01 to 2024-12-31

MIDPEN PROPERTY MANAGEMENT CORP, founded in 1970, is a mid-sized nonprofit that reported $13.1M in total revenue in fiscal year 2024. Revenue grew 10% year-over-year, indicating healthy expansion. Expenses of $12.1M left a modest 7% surplus.

Mission

THE CORPORATION PROVIDES PROPERTY MANAGEMENT AND SUPPORT SERVICES IN CONNECTION WITH THE DEVELOPMENT, OPERATION AND PRESERVATION OF HOUSING FOR LOW INCOME, ELDERLY AND DISABLED PERSONS.

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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 $604

Program Service Revenue $12,918,791

Investment Income $161,940

Other Revenue $0

TOTAL REVENUE $13,081,335

Expense Breakdown

Grants Paid $0

Salaries & Benefits $9,375,614

Fundraising Expenses $0

Program Expenses $7,606,417

Other Expenses $2,765,981

TOTAL EXPENSES $12,141,595

Year-over-Year Comparison

	2024	2023	Change
Revenue	$13,081,335	$11,867,517	+0.1%
Expenses	$12,141,595	$10,916,469	+0.1%
Net Income	$939,740	$951,048	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

708

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

$3,571,873

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MATTHEW O FRANKLIN	CEO/PRESIDENT/ASST. SECRETARY	12.00	Officer	$643,737	$72,431	$716,168
JANINE LIND	COO / ASSISTANT SECRETARY	12.00	Officer	$298,361	$9,883	$308,244
MICHAEL J VERGURA	CFO / ASSISTANT SECRETARY	12.00	Officer	$473,242	$77,467	$550,709
ANN GOGGINS GREGORY	COO / ASSISTANT SECRETARY	12.00	Officer	$343,443	$37,560	$381,003
ABIGAIL GOLDWARE POTLURI	ASSISTANT SECRETARY	0.10	Officer	$330,028	$56,916	$386,944
KASEY ARCHEY	ASSISTANT SECRETARY	44.80	Officer	$432,459	$25,464	$457,923
LANCE SMITH	VP/CORPORATE COUNSEL & BROKER/ASST. SECRETARY	5.00	Officer	$310,371	$64,680	$375,051
JOANNA L CARMAN	ASSISTANT SECRETARY	0.00	Officer	$0	$46,342	$395,831
KYLE ATTENHOFER	SVP OF ASSET MANAGEMENT	27.00	Highest	$292,037	$53,615	$345,652
CRAIG B YAPPERT	VP OF INFORMATION TECHNOLOGY	15.00	Highest	$253,338	$62,651	$315,989
FELIX AUYEUNG	VP OF BUSINESS DEVELOPMENT	0.00	Highest	$255,085	$65,963	$321,048
JENNIFER INGRAM	SVP OF COMMUNITY VALUES IMPACT & INNOVATION	15.00	Highest	$313,973	$64,115	$378,088
MARI LYN HIKIDA	VP OF CORPORATE COMMUNICATIONS AND PUBLIC RELATION	5.00	Highest	$259,307	$67,975	$327,282
ERIC HARRISON	CHAIRPERSON	0.30	Officer Director	$0	$0	$0
JESSICA GARCIA-KOHL	VICE CHAIRPERSON	0.30	Officer Director	$0	$0	$0
JENNIFER MARTINEZ	SECRETARY	0.30	Officer Director	$0	$0	$0
ENRIQUE TORRES	TREASURER	0.30	Officer Director	$0	$0	$0
YUSEF FREEMAN	DIRECTOR	0.30	Director	$0	$0	$0
STEPHANIE SONNENSHINE	DIRECTOR	0.30	Director	$0	$0	$0
FAY SIEN GOON	DIRECTOR	0.30	Director	$0	$0	$0
JONATHAN FEARN	DIRECTOR	0.30	Director	$0	$0	$0
JENNIFER HICKS	DIRECTOR	0.30	Director	$0	$0	$0
ELISA DE LAET JAGERSON	DIRECTOR	0.30	Director	$0	$0	$0
CHAN U LEE	DIRECTOR	0.30	Director	$0	$0	$0
RENEE MCDONNELL	DIRECTOR	0.30	Director	$0	$0	$0
TERRY FREEMAN	DIRECTOR	0.30	Director	$0	$0	$0
MELANIE MOCK	DIRECTOR	0.30	Director	$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
2024	$13,081,335	$12,141,595	$8,318,973	$939,740
2023	$11,867,517	$10,916,469	$7,240,418	$951,048
2022	$9,394,965	$8,590,029	$4,968,754	$804,936
2021	$16,638,795	$16,796,300	$4,229,808	$-157,505
2020	$7,961,405	$8,421,130	$12,208,033	$-459,725
2019	$7,638,167	$8,059,667	$5,329,237	$-421,500
2018	$6,933,349	$6,862,549	$4,551,527	$70,800

MIDPEN PROPERTY MANAGEMENT CORP