BAY COVE WOODWARD PARK RESIDENCE I… - Form 990 Financial Data

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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

1999

Legal Domicile

Principal Officer

KEVIN MARTONE

Phone

6173713000

Tax Period

2023-07-01 to 2024-06-30

BAY COVE WOODWARD PARK RESIDENCE INC C/O BAY COVE HUMAN SERVICES, founded in 1999, is a small nonprofit in the Housing & Shelter sector that reported $197K in total revenue in fiscal year 2023. Revenue surged 60% from the prior year, signaling strong growth momentum. The organization ran a surplus of $61K, a strong 31% operating margin.

Mission

PROVIDE ELDERLY AND HANDICAPPED PERSONS WITH HOUSING FACILITIES AND SERVICES DESIGNED TO MEET THEIR PHYSICAL, SOCIAL AND PSYCHOLOGICAL NEEDS.

Program Service Accomplishments

Program 1

Expenses: $126,680 Revenue: $52,764

THE ORGANIZATION PROVIDES LOW INCOME HOUSING FOR DISABLED TENANTS.

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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 $144,096

Program Service Revenue $52,764

Investment Income $616

Other Revenue $0

TOTAL REVENUE $197,476

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $126,680

Other Expenses $136,805

TOTAL EXPENSES $136,805

Year-over-Year Comparison

	2023	2022	Change
Revenue	$197,476	$123,528	+0.6%
Expenses	$136,805	$189,458	-0.3%
Net Income	$60,671	$-65,930	-1.9%

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

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

$1,150,421

Total Directors

$540,070

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
AJAY CHADHA	VICE CHAIRPERSON	0.10	Officer Director	$0	$0	$0
ANNE LEVINE	DIRECTOR	0.10	Director	$0	$0	$0
ANNE RUSH	DIRECTOR	0.10	Director	$0	$0	$0
BRUCE G GOODMAN ESQ	DIRECTOR	0.10	Director	$0	$0	$0
CHRISTOPHER LENTO	DIRECTOR	0.10	Director	$0	$0	$0
EDDY DESIR	DIRECTOR	0.10	Director	$0	$0	$0
GREGORY BUSCONE	TREASURER	0.10	Officer Director	$0	$0	$0
JEAN MCGUIRE	DIRECTOR	0.10	Director	$0	$0	$0
LISA BLAKE	DIRECTOR	0.10	Director	$0	$0	$0
LOUIS JOSEPHSON	PRESIDENT/CEO (THRU 06/2024)	0.10	Officer Director	$0	$47,261	$455,719
PETER A PEASE	DIRECTOR	0.10	Director	$0	$0	$0
ROBERT J THOMAS	DIRECTOR	0.10	Director	$0	$0	$0
RUTH FISHBEIN	CHAIRPERSON	0.10	Officer Director	$0	$0	$0
SALLY THOMPSON	DIRECTOR	0.10	Director	$0	$0	$0
SETH DALY STENNIS	DIRECTOR	0.10	Director	$0	$0	$0
THOMAS J AITES	DIRECTOR	0.10	Director	$0	$0	$0
WILLIAM H SPRAGUE	PRESIDENT/CEO (AS OF 6/2024)	0.10	Officer Director	$0	$0	$84,351
WILLIAM M MAFFIE III	DIRECTOR	0.10	Director	$0	$0	$0
WILLIAM OAKLEY	DIRECTOR (THRU 06/2024)	0.10	Director	$0	$0	$0
ALISON SANCHEZ	CLERK (THRU 03/2024)	0.10	Officer	$0	$7,991	$87,201
HEMA MAHASE	ASSISTANT CLERK	0.10	Officer	$0	$14,681	$89,782
KERRY J OLLEN	ASST TREASURER/SVP/CFO (THRU 07/2023)	0.10	Officer	$0	$13,133	$271,786
MARCEL VERNON	CFO & ASST. TREASURER (AS OF 07/2023)	0.10	Officer	$0	$13,634	$161,582
JAMES LAPRADE	FORMER SVP OPERATIONS	0.10		$0	$928	$196,342

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	No data	No data	No data	No data
2024	$197,476	$136,805	$594,298	$60,671
2023	$123,528	$189,458	$524,754	$-65,930
2022	$111,937	$130,555	$584,281	$-18,618
2021	$106,565	$165,632	$565,729	$-59,067
2020	$106,010	$114,933	$594,113	$-8,923
2019	$175,410	$160,140	$599,594	$15,270

BAY COVE WOODWARD PARK RESIDENCE INC C/O BAY COVE HUMAN SERVICES