SILVER LAKE SENIOR HOUSING ASSOCIATION (EIN 943041311) - 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

1987

Legal Domicile

Principal Officer

CAROL WHEELER

Phone

4252589222

Tax Period

2024-01-01 to 2024-12-31

SILVER LAKE SENIOR HOUSING ASSOCIATION, founded in 1987, is a small nonprofit that reported $429K in total revenue in fiscal year 2024. Expenses of $484K exceeded revenue, resulting in a 13% operating deficit.

Mission

HOUSING FOR LOW-INCOME ELDERLY

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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 $276,557

Program Service Revenue $152,131

Investment Income $416

Other Revenue $0

TOTAL REVENUE $429,104

Expense Breakdown

Grants Paid $0

Salaries & Benefits $136,794

Fundraising Expenses $0

Program Expenses $438,167

Other Expenses $347,308

TOTAL EXPENSES $484,102

Year-over-Year Comparison

	2024	2023	Change
Revenue	$429,104	$429,460	0.0%
Expenses	$484,102	$437,289	+0.1%
Net Income	$-54,998	$-7,829	+6.0%

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

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

$437,315

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MAJOR GALLOWAY III	EXEC. DIRECTOR (THROUGH APRIL 2024)	1.00	Officer	$0	$7,408	$332,829
MARY SWENSON	EXEC. DIRECTOR (AS OF APRIL 2024)	1.00	Officer	$0	$8,614	$104,486
CAROL WHEELER	PRESIDENT/CHAIR	1.00	Officer Director	$0	$0	$0
KOREN SMITH	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
CYNTHIA ANDREWS	SECRETARY/TREASURER	1.00	Officer Director	$0	$0	$0
CHIP BURGESS	BOARD MEMBER (THROUGH SEPTEMBER 2024)	1.00	Director	$0	$0	$0
GEORGE PEREZ JR	BOARD MEMBER	1.00	Director	$0	$0	$0
JOHN TRAYNOR	BOARD MEMBER	1.00	Director	$0	$0	$0
MASOUD RASSAIAN	BOARD MEMBER	1.00	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	$429,104	$484,102	$1,187,304	$-54,998
2023	$429,460	$437,289	$1,379,844	$-7,829
2022	$410,297	$399,329	$1,300,326	$10,968
2021	$384,984	$364,641	$1,320,027	$20,343
2020	$399,475	$361,039	$1,334,077	$38,436
2019	$372,589	$376,446	$1,323,954	$-3,857
2018	$353,873	$339,375	$1,387,834	$14,498

SILVER LAKE SENIOR HOUSING ASSOCIATION