HAVENSIDE CORPORATION

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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

BETH WELCH

Phone

5086932280

Tax Period

2023-01-01 to 2023-12-31

HAVENSIDE CORPORATION, founded in 1990, is a small nonprofit in the Housing & Shelter sector that reported $430K in total revenue in fiscal year 2023. Net assets of $2.9M represent 80 months of operating reserves.

Mission

TWENTY-NINE RENTAL UNITS IN FOUR BUILDINGS THAT ARE AVAILABLE TO QUALIFIED SENIORS AT BELOW MARKET RATE RENT.

Program Service Accomplishments

Program 1

Expenses: $450,191

HAVENSIDE CORPORATION PROVIDES APARTMENTS AVAILABLE FOR RENT TO ELDERLY RESIDENTS OF MARTHA'S VINEYARD. THESE APARTMENTS HAVE RENT AT OR BELOW COST FOR THE AREA.

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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 $9,350

Program Service Revenue $379,825

Investment Income $41,060

Other Revenue $0

TOTAL REVENUE $430,235

Expense Breakdown

Grants Paid $0

Salaries & Benefits $140,457

Fundraising Expenses $0

Program Expenses $450,191

Other Expenses $329,313

TOTAL EXPENSES $469,770

Year-over-Year Comparison

	2023	2022	Change
Revenue	$430,235	N/A	N/A
Expenses	$469,770	N/A	N/A
Net Income	$-39,535	N/A	N/A

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BETH WELCH	PRESIDENT	10.00	Officer Director	$0	$0	$0
GLEN ALBERICH	VICE PRESIDE	2.00	Officer Director	$0	$0	$0
CARL MALMQUIST	TREASURER	2.00	Officer Director	$0	$0	$0
REVEREND STEPHEN HARDING	CLERK	2.00	Officer Director	$0	$0	$0
KAREN HUFF	DIRECTOR	2.00	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	No data	No data	No data	No data
2023	$430,235	$469,770	$3,112,300	$-39,535
2022	$314,334	$405,428	$2,885,770	$-91,094
2021	$450,293	$358,723	$3,226,210	$91,570
2020	$398,746	$382,594	$2,966,598	$16,152
2019	$405,518	$314,716	$2,824,419	$90,802
2018	$414,270	$374,344	$2,560,431	$39,926