Cape Verdean Association in New Bedford Inc (EIN 043105677) - 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

1990

Legal Domicile

Principal Officer

Darlene Spencer

Phone

7742638876

Tax Period

2024-01-01 to 2024-12-31

Cape Verdean Association in New Bedford Inc, founded in 1990, is a small nonprofit in the Recreation & Sports sector that reported $792K in total revenue in fiscal year 2024. Revenue surged 205% from the prior year, signaling strong growth momentum. The organization ran a surplus of $730K, a strong 92% operating margin.

Mission

Preserving and promoting Cape Verdean culture. The CVANB will foster continued appreciation for our history, deliver culturally competent programs and services that enrich all communities making a difference in the lives of the Cape Verdean people here and abroad.

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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 $797,282

Program Service Revenue $559

Investment Income $66

Other Revenue $-5,779

TOTAL REVENUE $792,128

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $6,795

Program Expenses $25,453

Other Expenses $62,034

TOTAL EXPENSES $62,034

Year-over-Year Comparison

	2024	2023	Change
Revenue	$792,128	$259,492	+2.1%
Expenses	$62,034	$71,275	-0.1%
Net Income	$730,094	$188,217	+2.9%

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

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Gail Fortes	Treasurer	8.00	Officer Director	$0	$0	$0
Darlene Spencer	President	10.00	Officer Director	$0	$0	$0
Jan Baptist	Vice President	15.00	Officer Director	$0	$0	$0
Tanya Alves	Secretary	8.00	Officer Director	$0	$0	$0
Irondina Reis Abreu	Director	2.00	Director	$0	$0	$0
Dr Carlos Almeida	Director	2.00	Director	$0	$0	$0
Starlene Alves	Director	2.00	Director	$0	$0	$0
Raquel Dias	Director	4.00	Director	$0	$0	$0
Soraya Dos Santos	Director	2.00	Director	$0	$0	$0
Keoma Duarte	Director	1.00	Director	$0	$0	$0
Bruno Freire	Director	1.00	Director	$0	$0	$0
Angie Lopes	Director	3.00	Director	$0	$0	$0
Jean Lopez	Director	1.00	Director	$0	$0	$0
Eydie Soares Matteos	Director	6.00	Director	$0	$0	$0
Bernadette Santos	Director	6.00	Director	$0	$0	$0
Geovanny Sequeira	Director	3.00	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	$792,128	$62,034	$1,398,126	$730,094
2023	No data	No data	No data	No data

Cape Verdean Association in New Bedford Inc