FOUNDATION PROPERTY MANAGEMENT INC (EIN 953651050) - 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

1981

Legal Domicile

Principal Officer

STUART HARTMAN

Phone

5622575100

Tax Period

2023-10-01 to 2024-09-30

FOUNDATION PROPERTY MANAGEMENT INC, founded in 1981, is a mid-sized nonprofit in the Human Services sector that reported $14.5M in total revenue in fiscal year 2023. Expenses of $22.3M exceeded revenue, resulting in a 54% operating deficit.

Mission

TO PROVIDE CENTRALIZED MANAGEMENT AND ADMINISTRATIVE SERVICES TO LOW AND VERY LOW INCOME AND MARKET RATE RETIREMENT HOUSING COMMUNITIES, ASSISTED LIVING, AND SKILLED NURSING FACILITIES.

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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 $0

Program Service Revenue $14,488,985

Investment Income $48,349

Other Revenue $0

TOTAL REVENUE $14,537,334

Expense Breakdown

Grants Paid $0

Salaries & Benefits $4,473,326

Fundraising Expenses $0

Program Expenses $22,147,154

Other Expenses $17,851,972

TOTAL EXPENSES $22,325,298

Year-over-Year Comparison

	2023	2022	Change
Revenue	$14,537,334	$14,530,644	+0.0%
Expenses	$22,325,298	$22,058,389	+0.0%
Net Income	$-7,787,964	$-7,527,745	+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

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

$1,262,075

Total Directors

Key Employees

$3,575,308

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DESAEGHER NORMA N	DIRECTOR	0.20	Officer Director	$0	$0	$0
EAST RAYMOND E	DIRECTOR	0.20	Director	$0	$0	$0
MOYER DAVID S	DIRECTOR	0.20	Officer Director	$0	$0	$0
POLLOCK JEFFREY R	DIRECTOR	0.20	Director	$0	$0	$0
POTTER CHRISTINA E	DIRECTOR	0.20	Director	$0	$0	$0
HARTMAN STUART J	PRESIDENT/CEO	0.20	Officer	$0	$68,128	$685,724
FOX BUCHAN LAURA L	CORP SEC & DIR OF CORP RECORDS	0.20	Officer	$0	$18,784	$172,534
ROSSELLO FRANK JR	CFO AND VP OF FINANCE	0.20	Officer	$0	$25,235	$403,817
AMBERG ROBERT R	EXECUTIVE VP GEN COUNSEL	0.20	Key Emp	$0	$49,216	$489,502
NAPIERSKIE DAVID W	VP HEALTH CARE OPERATIONS	0.20	Key Emp	$0	$41,335	$286,493
MAGNONE VINCENT B	VP TREASURY & INVSTMT OFF	0.20	Key Emp	$0	$37,102	$283,260
BATTAGLIA NADA	VP HUMAN RESOURCES	0.20	Key Emp	$0	$46,746	$288,839
TITUS STEPHANIE L	VP PHILANTHROPY/CSO	0.20	Key Emp	$0	$49,191	$288,833
GILCHRIST KEVIN DARRELL	VP DEVELOPMENT FINANCE	0.20	Key Emp	$0	$48,817	$277,179
FARD BOB J	VP ACQUIS AND PROJ DEV	0.20	Key Emp	$0	$21,908	$281,127
PURCELL CHRISTOPHER	CONTROLLER	0.20	Key Emp	$0	$19,731	$216,931
CLOW JOHN C	VP RISK MANAGEMENT	0.20	Key Emp	$0	$18,816	$227,978
STECKBECK KENT	BUDGET & ANALYTICS DIR	0.20	Key Emp	$0	$5,331	$183,013
ROBINSON TINA M	VP HOUSING ACCOUNTING	0.20	Key Emp	$0	$16,482	$193,805
PHELPS LORI ANN	INFO SYSTEMS DIRECTOR	0.20	Key Emp	$0	$5,192	$178,269
MICKELSON LAVONNE R	DIR OF AFFORD HOUSING OPS	0.20	Key Emp	$0	$4,763	$189,381
SILVA JOANNE L	VP OCCUPANCY & TAX CREDIT	0.20	Key Emp	$0	$23,842	$190,698

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	$14,537,334	$22,325,298	$1,593,605	$-7,787,964
2023	$14,530,644	$22,058,389	$1,157,599	$-7,527,745
2022	$16,360,712	$20,815,741	$929,784	$-4,455,029
2021	$18,940,331	$20,912,862	$1,227,152	$-1,972,531
2020	$17,829,483	$21,060,168	$1,338,213	$-3,230,685
2019	$17,308,016	$21,418,342	$1,766,492	$-4,110,326
2018	$15,488,651	$21,455,218	$1,411,942	$-5,966,567

FOUNDATION PROPERTY MANAGEMENT INC