PROGRESS APARTMENTS

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

1988

Legal Domicile

Principal Officer

STEVE FIELDS

Phone

4158610828

Tax Period

2024-07-01 to 2025-06-30

PROGRESS APARTMENTS, founded in 1988, is a small nonprofit that reported $223K in total revenue in fiscal year 2024. The organization ran a surplus of $38K, a strong 17% operating margin.

Mission

TO PROVIDE LOW COST HOUSING FOR LOW INCOME INDIVIDUALS WITH MENTAL DISABILITIES.

Program Service Accomplishments

Program 1

Expenses: $175,348

TO PROVIDE LOW COST SUBSIDIZED HOUSING FOR LOW INCOME INDIVIDUALS WITH MENTAL DISABILITIES.

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $132,882

Program Service Revenue $89,739

Investment Income $797

Other Revenue $0

TOTAL REVENUE $223,418

Expense Breakdown

Grants Paid $0

Salaries & Benefits $33,777

Fundraising Expenses $0

Program Expenses $175,348

Other Expenses $151,471

TOTAL EXPENSES $185,248

Year-over-Year Comparison

	2024	2023	Change
Revenue	$223,418	$215,494	+0.0%
Expenses	$185,248	$206,222	-0.1%
Net Income	$38,170	$9,272	+3.1%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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

$556,775

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
STEVE FIELDS	PRESIDENT	002.00	Officer	$0	$0	$253,260
SWATI KAPADIA	TREASURER	002.00	Officer	$0	$0	$173,700
NATALIE ST CLAIR	SECRETARY	002.00	Officer	$0	$0	$129,815
SCOT RUSSELL	BD MEMBER	000.30	Director	$0	$0	$0
SETH KATZMAN	BD MEMBER	000.30	Director	$0	$0	$0
LEE AURICH	BD MEMBER	000.30	Director	$0	$0	$0
KAREN WENGER	BD MEMBER	000.30	Director	$0	$0	$0
ALANA HARRINGTON	BD MEMBER	000.30	Director	$0	$0	$0
MARTY WINTER	BD MEMBER	000.30	Director	$0	$0	$0
LESLIE BILBRO	VICE CHAIR	000.30	Officer	$0	$0	$0
MARGARET CIMINO	CHAIR	000.30	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	$223,418	$185,248	$326,481	$38,170
2024	$215,494	$206,222	$326,613	$9,272
2024	$215,494	$206,222	$326,613	$9,272
2023	$210,256	$173,750	$356,154	$36,506
2022	$200,228	$181,673	$337,404	$18,555
2021	$200,177	$160,895	$364,401	$39,282
2020	$196,574	$187,658	$369,036	$8,916
2019	$173,188	$187,174	$370,565	$-13,986
2018	$173,377	$182,169	$394,054	$-8,792